BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Xerox Corp (NYSE:XRX) by 167.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 189,039 shares of the information technology services provider’s stock after buying an additional 118,310 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Xerox were worth $3,735,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Water Island Capital LLC lifted its stake in Xerox by 27.8% in the fourth quarter. Water Island Capital LLC now owns 347,913 shares of the information technology services provider’s stock valued at $6,875,000 after buying an additional 75,751 shares during the period. Eubel Brady & Suttman Asset Management Inc. lifted its stake in Xerox by 3.9% in the third quarter. Eubel Brady & Suttman Asset Management Inc. now owns 272,493 shares of the information technology services provider’s stock valued at $7,352,000 after buying an additional 10,221 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Xerox by 3.3% in the third quarter. The Manufacturers Life Insurance Company now owns 230,077 shares of the information technology services provider’s stock valued at $6,207,000 after buying an additional 7,379 shares during the period. Goldentree Asset Management LP acquired a new position in Xerox in the third quarter valued at about $14,434,000. Finally, QUANTRES ASSET MANAGEMENT Ltd acquired a new stake in shares of Xerox during the fourth quarter worth about $763,000. 81.31% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently commented on XRX. TheStreet raised Xerox from a “c+” rating to a “b-” rating in a research report on Friday, February 22nd. Standpoint Research lowered Xerox from a “buy” rating to a “hold” rating in a research report on Friday, February 22nd. ValuEngine raised Xerox from a “sell” rating to a “hold” rating in a research report on Thursday, February 7th. Finally, Zacks Investment Research raised Xerox from a “sell” rating to a “hold” rating in a research report on Saturday, February 9th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Xerox presently has a consensus rating of “Hold” and a consensus price target of $35.25.
Xerox (NYSE:XRX) last released its quarterly earnings results on Tuesday, January 29th. The information technology services provider reported $1.14 EPS for the quarter, missing the Zacks’ consensus estimate of $1.16 by ($0.02). The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.60 billion. Xerox had a return on equity of 16.81% and a net margin of 3.67%. The company’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.04 EPS. Research analysts anticipate that Xerox Corp will post 3.76 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend is Thursday, March 28th. Xerox’s dividend payout ratio is currently 28.90%.
Xerox Corporation designs, develops, and sells document management systems and solutions worldwide. It offers intelligent workplace services, including managed print services; digitization services; and digital solutions, such as workflow automation, personalization and communication software, and content management.
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