Public Employees Retirement System of Ohio Has $15.98 Million Position in Ericsson $ERIC

Public Employees Retirement System of Ohio grew its stake in shares of Ericsson (NASDAQ:ERIC) by 26.3% during the 1st quarter, HoldingsChannel reports. The fund owned 1,418,076 shares of the communications equipment provider’s stock after acquiring an additional 295,185 shares during the period. Public Employees Retirement System of Ohio’s holdings in Ericsson were worth $15,982,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ERIC. ABC Arbitrage SA raised its holdings in shares of Ericsson by 36.7% during the fourth quarter. ABC Arbitrage SA now owns 4,389,009 shares of the communications equipment provider’s stock worth $42,354,000 after acquiring an additional 1,179,194 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Ericsson by 42.9% in the second quarter. BNP Paribas Financial Markets now owns 3,350,029 shares of the communications equipment provider’s stock valued at $28,408,000 after purchasing an additional 1,005,398 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Ericsson by 19.1% in the fourth quarter. Russell Investments Group Ltd. now owns 1,903,298 shares of the communications equipment provider’s stock valued at $18,603,000 after purchasing an additional 304,974 shares in the last quarter. Defiance ETFs LLC acquired a new position in Ericsson in the 4th quarter worth about $13,766,000. Finally, Van ECK Associates Corp raised its stake in shares of Ericsson by 229.3% during the 4th quarter. Van ECK Associates Corp now owns 1,252,437 shares of the communications equipment provider’s stock worth $12,086,000 after purchasing an additional 872,065 shares in the last quarter. 7.99% of the stock is owned by institutional investors and hedge funds.

Ericsson Price Performance

NASDAQ ERIC opened at $9.33 on Friday. The company has a current ratio of 1.12, a quick ratio of 0.93 and a debt-to-equity ratio of 0.21. The company has a fifty day simple moving average of $11.63 and a 200 day simple moving average of $11.32. The company has a market cap of $31.45 billion, a P/E ratio of 11.96, a P/E/G ratio of 1.72 and a beta of 0.93. Ericsson has a 1 year low of $7.16 and a 1 year high of $13.77.

Ericsson (NASDAQ:ERIC) last posted its earnings results on Tuesday, June 30th. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter. The business had revenue of $5.43 billion for the quarter. Ericsson had a net margin of 10.72% and a return on equity of 20.67%. On average, sell-side analysts predict that Ericsson will post 0.61 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ERIC shares. Danske upgraded Ericsson from a “hold” rating to a “buy” rating in a report on Wednesday, July 15th. Citigroup restated a “neutral” rating on shares of Ericsson in a report on Wednesday, July 15th. Wall Street Zen lowered shares of Ericsson from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Ericsson in a research note on Tuesday, June 2nd. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Ericsson has an average rating of “Hold” and a consensus price target of $11.00.

About Ericsson

Ericsson AB is a Swedish multinational telecommunications equipment and services company headquartered in Stockholm. Founded in 1876 by Lars Magnus Ericsson, the company designs, develops and sells infrastructure, software and services that enable mobile and fixed-line networks worldwide. Ericsson serves a global customer base that includes mobile network operators, enterprise customers and public-sector organizations across Europe, the Americas, Asia-Pacific, the Middle East and Africa.

The company’s core activities center on building and modernizing network infrastructure, with a particular focus on radio access networks (RAN), core network software, cloud-native solutions and network management systems.