Trillium Asset Management LLC decreased its position in shares of ITC Holdings Corp. (NYSE:ITC) by 94.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,169 shares of the company’s stock after selling 151,333 shares during the period. Trillium Asset Management LLC’s holdings in ITC Holdings Corp. were worth $429,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in ITC. Creative Planning increased its stake in shares of ITC Holdings Corp. by 0.9% in the second quarter. Creative Planning now owns 5,342 shares of the company’s stock worth $250,000 after buying an additional 48 shares during the period. Prudential Financial Inc. increased its stake in shares of ITC Holdings Corp. by 2.0% in the first quarter. Prudential Financial Inc. now owns 10,189 shares of the company’s stock worth $444,000 after buying an additional 200 shares during the period. Bollard Group LLC increased its stake in shares of ITC Holdings Corp. by 0.3% in the second quarter. Bollard Group LLC now owns 70,504 shares of the company’s stock worth $3,301,000 after buying an additional 244 shares during the period. A.R.T. Advisors LLC increased its stake in shares of ITC Holdings Corp. by 1.3% in the first quarter. A.R.T. Advisors LLC now owns 122,090 shares of the company’s stock worth $5,319,000 after buying an additional 1,600 shares during the period. Finally, AXA increased its stake in shares of ITC Holdings Corp. by 21.1% in the first quarter. AXA now owns 22,041 shares of the company’s stock worth $960,000 after buying an additional 3,841 shares during the period. Institutional investors own 84.22% of the company’s stock.
ITC Holdings Corp. (NYSE:ITC) traded down 1.05% during trading on Friday, hitting $45.19. 1,312,234 shares of the stock were exchanged. The firm has a market capitalization of $6.86 billion and a PE ratio of 29.19. The stock has a 50 day moving average price of $46.00 and a 200-day moving average price of $45.21. ITC Holdings Corp. has a 12-month low of $30.33 and a 12-month high of $47.46.
ITC Holdings Corp. (NYSE:ITC) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. ITC Holdings Corp. had a net margin of 22.12% and a return on equity of 19.82%. The firm had revenue of $298 million for the quarter, compared to analysts’ expectations of $313 million. During the same period last year, the firm earned $0.52 earnings per share. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, equities research analysts anticipate that ITC Holdings Corp. will post $2.13 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were paid a $0.2155 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This is a boost from ITC Holdings Corp.’s previous quarterly dividend of $0.19. This represents a $0.86 dividend on an annualized basis and a yield of 1.91%. ITC Holdings Corp.’s dividend payout ratio (DPR) is presently 55.84%.
Separately, Zacks Investment Research upgraded ITC Holdings Corp. from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research report on Tuesday, July 26th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $41.83.
ITC Holdings Corp. Company Profile
ITC Holdings Corp. (ITC Holdings) is a holding company. The Company is engaged in owning, operating, maintaining and investing in transmission infrastructure. The Company’s business consists primarily of the electric transmission operations of its Regulated Operating Subsidiaries. Its Regulated Operating Subsidiaries include International Transmission Company (ITCTransmission), Michigan Electric Transmission Company, LLC (METC), ITC Midwest LLC (ITC Midwest).
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