Allspring Global Investments Holdings LLC Sells 2,200 Shares of Atlas Corp. (NYSE:ATCO)

Allspring Global Investments Holdings LLC reduced its position in shares of Atlas Corp. (NYSE:ATCOGet Rating) by 7.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 25,900 shares of the company’s stock after selling 2,200 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Atlas were worth $360,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ATCO. JPMorgan Chase & Co. boosted its position in shares of Atlas by 690.7% during the 1st quarter. JPMorgan Chase & Co. now owns 5,527 shares of the company’s stock valued at $81,000 after acquiring an additional 4,828 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in Atlas in the first quarter worth $454,000. HighTower Advisors LLC lifted its position in Atlas by 116.0% in the first quarter. HighTower Advisors LLC now owns 31,540 shares of the company’s stock worth $461,000 after buying an additional 16,940 shares during the last quarter. Allianz Asset Management GmbH lifted its position in Atlas by 72.0% in the first quarter. Allianz Asset Management GmbH now owns 43,163 shares of the company’s stock worth $634,000 after buying an additional 18,072 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in Atlas in the first quarter worth $186,000. 68.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. B. Riley downgraded Atlas from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $18.00 to $15.50 in a research report on Tuesday, November 1st. BMO Capital Markets raised their price target on Atlas from $14.45 to $15.50 and gave the stock a “market perform” rating in a research report on Thursday, November 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Atlas currently has a consensus rating of “Hold” and a consensus target price of $14.00.

Atlas Stock Down 0.3 %

NYSE:ATCO opened at $15.11 on Wednesday. Atlas Corp. has a twelve month low of $10.13 and a twelve month high of $16.23. The company has a market cap of $3.74 billion, a price-to-earnings ratio of 7.33, a price-to-earnings-growth ratio of 2.07 and a beta of 1.04. The stock has a fifty day simple moving average of $15.31 and a 200-day simple moving average of $14.34. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 0.90.

Atlas (NYSE:ATCOGet Rating) last announced its quarterly earnings results on Tuesday, November 1st. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.01). The firm had revenue of $439.60 million for the quarter, compared to analysts’ expectations of $436.82 million. Atlas had a net margin of 37.73% and a return on equity of 12.25%. Analysts anticipate that Atlas Corp. will post 1.6 EPS for the current year.

Atlas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 30th. Stockholders of record on Friday, January 20th will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Thursday, January 19th. This represents a $0.50 annualized dividend and a dividend yield of 3.31%. Atlas’s dividend payout ratio is currently 24.27%.

Atlas Profile

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Atlas Corp. operates as an asset manager and operator of containerships. The company, through its subsidiaries, operates as an independent charter owner and manager of containerships. The company charters its containerships under long-term and fixed-rate time charters to various container liner companies.

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Institutional Ownership by Quarter for Atlas (NYSE:ATCO)

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