Connor Clark & Lunn Investment Management Ltd. Grows Stock Holdings in Relx Plc $RELX

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Relx Plc (NYSE:RELX) by 72.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 679,541 shares of the technology company’s stock after purchasing an additional 286,005 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Relx were worth $32,455,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of RELX. Dimensional Fund Advisors LP increased its holdings in Relx by 7.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,446,125 shares of the technology company’s stock valued at $164,575,000 after purchasing an additional 252,390 shares during the period. Ameriprise Financial Inc. raised its position in Relx by 10.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,344,134 shares of the technology company’s stock valued at $181,569,000 after purchasing an additional 303,002 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Relx by 0.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,784,488 shares of the technology company’s stock worth $85,227,000 after buying an additional 14,404 shares during the period. Captrust Financial Advisors lifted its holdings in Relx by 5.5% in the 2nd quarter. Captrust Financial Advisors now owns 1,596,711 shares of the technology company’s stock worth $86,765,000 after buying an additional 83,196 shares during the period. Finally, Orion Porfolio Solutions LLC grew its position in shares of Relx by 622.0% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 1,350,189 shares of the technology company’s stock worth $73,369,000 after buying an additional 1,163,189 shares during the last quarter. 15.02% of the stock is owned by institutional investors.

Relx Trading Down 1.7%

RELX opened at $34.19 on Friday. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.44 and a current ratio of 0.49. Relx Plc has a 52 week low of $27.57 and a 52 week high of $56.33. The business has a 50 day moving average of $35.69 and a 200-day moving average of $40.99.

Relx (NYSE:RELX) last issued its quarterly earnings results on Thursday, February 12th. The technology company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.42). The company had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $6.70 billion. As a group, research analysts predict that Relx Plc will post 1.68 earnings per share for the current fiscal year.

Relx Announces Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, June 24th. Stockholders of record on Friday, May 8th will be issued a dividend of $0.6559 per share. This represents a dividend yield of 422.0%. The ex-dividend date is Friday, May 8th.

Analysts Set New Price Targets

A number of brokerages recently commented on RELX. Citigroup started coverage on Relx in a report on Monday, January 12th. They set a “neutral” rating for the company. Zacks Research downgraded shares of Relx from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 4th. Wall Street Zen lowered shares of Relx from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Relx in a research report on Monday, December 29th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Relx in a research note on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Relx Company Profile

RELX plc is a global provider of information, analytics and decision tools for professional and business customers. The company supplies content, data and analytical services that support decision-making across scientific, technical and medical research, legal and regulatory practice, and risk and business analytics. RELX’s offerings are largely delivered via digital platforms and subscription services designed for institutions, corporations and professionals who require specialized, high-value information and workflow solutions.

RELX operates through distinct business lines that include Elsevier, which provides scientific, technical and medical journals, books and online platforms such as research and discovery tools; Legal and Professional services, which deliver legal, regulatory and compliance content and workflow solutions; Risk & Business Analytics, which offers data, analytics and decision tools for insurance, banking, corporate and government risk assessment; and Exhibitions, which organizes industry trade shows and events.