Ontario Teachers Pension Plan Board Raises Holdings in Xerox Holdings Co. (NYSE:XRX)

Ontario Teachers Pension Plan Board raised its position in shares of Xerox Holdings Co. (NYSE:XRX) by 32.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,551 shares of the information technology services provider’s stock after buying an additional 13,384 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Xerox were worth $1,000,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Xerox by 10.2% during the third quarter. Vanguard Group Inc. now owns 15,791,263 shares of the information technology services provider’s stock worth $247,765,000 after buying an additional 1,464,851 shares during the period. American Century Companies Inc. boosted its holdings in Xerox by 520.9% in the third quarter. American Century Companies Inc. now owns 378,129 shares of the information technology services provider’s stock valued at $5,933,000 after purchasing an additional 317,233 shares during the period. Public Sector Pension Investment Board purchased a new position in Xerox in the third quarter valued at $2,194,000. Truist Financial Corp boosted its holdings in Xerox by 70.1% in the fourth quarter. Truist Financial Corp now owns 61,191 shares of the information technology services provider’s stock valued at $1,122,000 after purchasing an additional 25,214 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in Xerox by 43.6% in the third quarter. Principal Financial Group Inc. now owns 659,221 shares of the information technology services provider’s stock valued at $10,343,000 after purchasing an additional 200,124 shares during the period. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Xerox Stock Up 0.4 %

Xerox stock opened at $13.86 on Friday. Xerox Holdings Co. has a 1-year low of $12.06 and a 1-year high of $19.78. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.37 and a quick ratio of 1.07. The stock has a market cap of $1.72 billion, a PE ratio of 9.97 and a beta of 1.61. The stock’s fifty day moving average is $15.52 and its two-hundred day moving average is $16.31.

Xerox (NYSE:XRX) last posted its quarterly earnings results on Tuesday, April 23rd. The information technology services provider reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.29). Xerox had a negative net margin of 2.74% and a positive return on equity of 7.77%. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the prior year, the business earned $0.49 earnings per share. The firm’s quarterly revenue was down 12.8% on a year-over-year basis. On average, sell-side analysts expect that Xerox Holdings Co. will post 2.09 EPS for the current fiscal year.

Xerox Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th 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 7.22%. The ex-dividend date of this dividend is Friday, June 28th. Xerox’s dividend payout ratio (DPR) is currently -63.69%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on XRX. JPMorgan Chase & Co. decreased their target price on Xerox from $18.00 to $17.00 and set an “underweight” rating for the company in a report on Wednesday, April 24th. StockNews.com lowered Xerox from a “buy” rating to a “hold” rating in a report on Wednesday, April 24th.

About Xerox

Xerox Holdings Corporation, together with its subsidiaries, operates as a workplace technology company that integrates hardware, services, and software for enterprises in the Americas, Europe, the Middle East, Africa, India, and internationally. The company operates through two segments, Print and Other; and FITTLE.