863,921 Shares in ADT Inc (ADT) Acquired by Channing Capital Management LLC
Channing Capital Management LLC purchased a new stake in shares of ADT Inc (NYSE:ADT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 863,921 shares of the security and automation business’s stock, valued at approximately $7,473,000.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Comerica Bank purchased a new stake in ADT during the 1st quarter valued at $100,000. Wells Fargo & Company MN purchased a new stake in ADT during the 1st quarter valued at $126,000. Envestnet Asset Management Inc. purchased a new stake in ADT during the 1st quarter valued at $149,000. State of Wisconsin Investment Board purchased a new stake in ADT during the 1st quarter valued at $168,000. Finally, Cibc Bank USA boosted its position in ADT by 32.0% during the 2nd quarter. Cibc Bank USA now owns 88,450 shares of the security and automation business’s stock valued at $765,000 after buying an additional 21,450 shares during the period. 97.79% of the stock is owned by institutional investors and hedge funds.
In related news, Director Andrew Africk bought 130,000 shares of the company’s stock in a transaction dated Monday, May 14th. The stock was purchased at an average cost of $7.46 per share, with a total value of $969,800.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.23% of the company’s stock.
ADT (NYSE:ADT) last posted its earnings results on Wednesday, May 9th. The security and automation business reported ($0.03) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.27). The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. ADT’s revenue was up 5.4% compared to the same quarter last year. research analysts forecast that ADT Inc will post 0.78 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 10th. Stockholders of record on Monday, June 25th were given a $0.035 dividend. The ex-dividend date was Friday, June 22nd. This represents a $0.14 annualized dividend and a dividend yield of 1.50%. ADT’s dividend payout ratio is -40.00%.
Several equities research analysts have weighed in on ADT shares. Zacks Investment Research raised shares of ADT from a “sell” rating to a “hold” rating in a research report on Tuesday, June 5th. ValuEngine raised shares of ADT from a “sell” rating to a “hold” rating in a research report on Thursday, April 19th. Finally, Barclays dropped their target price on shares of ADT from $17.00 to $13.00 and set an “overweight” rating for the company in a research report on Wednesday, April 25th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. ADT has a consensus rating of “Buy” and a consensus price target of $15.00.
ADT Inc provides security and automation solutions for homes and businesses in the United States and Canada. It provides a range of burglary, video, access control, fire and smoke alarm, and medical alert solutions to residential, commercial, and multi-site customers. The company primarily offers professionally monitored security solutions; and interactive home and business automation solutions that are designed to control access, react to movement, and sense carbon monoxide, flooding, and changes in temperature or other environmental conditions, as well as address personal emergencies, such as injuries, medical emergencies, or incapacitation.
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