Spark Investment Management LLC Has $1,244,000 Stake in Neff Corporation (NEFF)
Spark Investment Management LLC held its position in Neff Corporation (NYSE:NEFF) during the second quarter, Holdings Channel reports. The institutional investor owned 65,522 shares of the industrial products company’s stock at the end of the second quarter. Spark Investment Management LLC’s holdings in Neff Corporation were worth $1,244,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Neff Corporation by 7.7% in the first quarter. Vanguard Group Inc. now owns 387,886 shares of the industrial products company’s stock worth $7,545,000 after buying an additional 27,630 shares during the period. Renaissance Technologies LLC raised its position in Neff Corporation by 116.8% in the first quarter. Renaissance Technologies LLC now owns 218,300 shares of the industrial products company’s stock worth $4,246,000 after buying an additional 117,600 shares during the period. State Street Corp raised its position in Neff Corporation by 9.8% in the fourth quarter. State Street Corp now owns 141,751 shares of the industrial products company’s stock worth $1,999,000 after buying an additional 12,671 shares during the period. Dimensional Fund Advisors LP raised its position in Neff Corporation by 42.0% in the first quarter. Dimensional Fund Advisors LP now owns 121,826 shares of the industrial products company’s stock worth $2,370,000 after buying an additional 36,030 shares during the period. Finally, Algert Global LLC bought a new position in Neff Corporation during the first quarter worth $2,166,000. 86.50% of the stock is currently owned by institutional investors.
Shares of Neff Corporation (NYSE NEFF) opened at 21.10 on Thursday. The firm has a 50-day moving average price of $19.83 and a 200-day moving average price of $17.87. Neff Corporation has a 52-week low of $8.05 and a 52-week high of $21.30. The stock has a market cap of $187.77 million, a P/E ratio of 15.14 and a beta of 3.41.
Neff Corporation (NYSE:NEFF) last posted its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by $0.16. Neff Corporation had a negative return on equity of 9.21% and a net margin of 3.26%. The business had revenue of $104.10 million for the quarter, compared to analyst estimates of $104.35 million. During the same quarter last year, the business earned $0.31 EPS. Neff Corporation’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, analysts anticipate that Neff Corporation will post $1.71 EPS for the current fiscal year.
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NEFF has been the topic of a number of recent research reports. Zacks Investment Research lowered Neff Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. ValuEngine raised Neff Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. Jefferies Group LLC boosted their price objective on Neff Corporation from $14.00 to $20.00 and gave the stock a “hold” rating in a research note on Monday, May 1st. Morgan Stanley boosted their price objective on Neff Corporation from $16.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Friday, April 28th. Finally, Piper Jaffray Companies reissued an “overweight” rating and set a $23.00 price objective (up previously from $21.00) on shares of Neff Corporation in a research note on Wednesday, April 19th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $20.17.
About Neff Corporation
Neff Corporation is an equipment rental company. The Company offers an array of equipment rental solutions for its customer base, including infrastructure, non-residential construction, oil and gas, and residential construction customers. Its fleet of equipment includes earthmoving, material handling, aerial and other rental equipment.
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