Johnston Asset Management LLC decreased its position in shares of EMC Corp. (NYSE:EMC) by 51.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 396,452 shares of the information technology service provider’s stock after selling 417,291 shares during the period. Johnston Asset Management LLC’s holdings in EMC Corp. were worth $10,772,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Renaissance Technologies LLC acquired a new stake in shares of EMC Corp. during the first quarter worth $186,561,000. NN Investment Partners Holdings N.V. purchased a new position in EMC Corp. during the first quarter valued at approximately $128,074,000. Samlyn Capital LLC purchased a new position in EMC Corp. during the first quarter valued at approximately $79,006,000. York Capital Management Global Advisors LLC boosted its position in EMC Corp. by 30.4% in the first quarter. York Capital Management Global Advisors LLC now owns 11,013,526 shares of the information technology service provider’s stock valued at $293,510,000 after buying an additional 2,567,922 shares during the period. Finally, Nordea Investment Management AB boosted its position in EMC Corp. by 9.8% in the second quarter. Nordea Investment Management AB now owns 24,662,903 shares of the information technology service provider’s stock valued at $670,091,000 after buying an additional 2,206,074 shares during the period. 79.86% of the stock is owned by institutional investors and hedge funds.
EMC Corp. (NYSE:EMC) remained flat at $29.05 on Tuesday. EMC Corp. has a 52-week low of $22.99 and a 52-week high of $29.00. The stock’s 50-day moving average price is $28.53 and its 200 day moving average price is $27.32.
EMC Corp. (NYSE:EMC) last released its quarterly earnings data on Monday, July 18th. The information technology service provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.03. EMC Corp. had a net margin of 8.55% and a return on equity of 11.98%. The business had revenue of $6 billion for the quarter, compared to analyst estimates of $6 billion. During the same quarter last year, the firm earned $0.43 EPS. EMC Corp.’s quarterly revenue was up .3% compared to the same quarter last year. Equities research analysts anticipate that EMC Corp. will post $1.84 earnings per share for the current fiscal year.
EMC has been the subject of several recent analyst reports. Oppenheimer Holdings Inc. restated a “buy” rating on shares of EMC Corp. in a research report on Thursday, September 8th. Citigroup Inc. cut shares of EMC Corp. to a “market perform” rating in a research report on Monday, July 18th. Macquarie cut shares of EMC Corp. from an “outperform” rating to a “neutral” rating and set a $30.00 target price for the company. in a research report on Wednesday, July 13th. Argus restated a “hold” rating on shares of EMC Corp. in a research report on Friday, July 22nd. Finally, Robert W. Baird restated a “hold” rating on shares of EMC Corp. in a research report on Sunday, September 11th. One analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and ten have issued a buy rating to the company’s stock. EMC Corp. presently has an average rating of “Hold” and a consensus price target of $30.27.
EMC Corp. Company Profile
EMC Corporation (EMC) develops, delivers and supports the information technology (IT) industry’s range of information infrastructure and virtual infrastructure technologies, solutions and services. EMC manages the Company as part of a federation of businesses: EMC Information Infrastructure, VMware Virtual Infrastructure, Pivotal and Virtustream.
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