Public Employees Retirement System of Ohio Purchases Shares of 182,511 OUTFRONT Media Inc. $OUT

Public Employees Retirement System of Ohio purchased a new stake in shares of OUTFRONT Media Inc. (NYSE:OUT) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 182,511 shares of the financial services provider’s stock, valued at approximately $5,979,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cohen & Steers Inc. grew its holdings in OUTFRONT Media by 2.2% in the 4th quarter. Cohen & Steers Inc. now owns 22,314,228 shares of the financial services provider’s stock worth $537,779,000 after buying an additional 486,192 shares in the last quarter. State Street Corp boosted its position in OUTFRONT Media by 2.1% during the 4th quarter. State Street Corp now owns 5,483,013 shares of the financial services provider’s stock worth $132,141,000 after acquiring an additional 111,084 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of OUTFRONT Media by 9.9% in the first quarter. Goldman Sachs Group Inc. now owns 4,980,994 shares of the financial services provider’s stock worth $80,393,000 after purchasing an additional 448,993 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of OUTFRONT Media by 8.4% in the fourth quarter. Wellington Management Group LLP now owns 4,309,133 shares of the financial services provider’s stock worth $103,850,000 after purchasing an additional 335,265 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of OUTFRONT Media by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 3,738,362 shares of the financial services provider’s stock valued at $90,106,000 after purchasing an additional 127,117 shares during the period.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Morgan Stanley set a $37.00 price target on shares of OUTFRONT Media in a research report on Friday, May 8th. Wall Street Zen downgraded OUTFRONT Media from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 26th. Barrington Research set a $38.00 price objective on shares of OUTFRONT Media in a research note on Tuesday, May 12th. Wells Fargo & Company raised their target price on shares of OUTFRONT Media from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and issued a $38.00 target price on shares of OUTFRONT Media in a research report on Wednesday, July 22nd. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $34.00.

Insider Buying and Selling

In related news, EVP James Michael Norton bought 4,130 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was bought at an average price of $30.81 per share, for a total transaction of $127,245.30. Following the transaction, the executive vice president directly owned 4,130 shares in the company, valued at $127,245.30. This represents a ? increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Richard H. Sauer sold 5,000 shares of OUTFRONT Media stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $32.08, for a total transaction of $160,400.00. Following the sale, the executive vice president directly owned 56,947 shares of the company’s stock, valued at $1,826,859.76. This trade represents a 8.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 20,000 shares of company stock worth $629,600 over the last ninety days. 0.45% of the stock is currently owned by insiders.

OUTFRONT Media Stock Performance

Shares of OUT stock opened at $29.55 on Thursday. The company has a market capitalization of $5.20 billion, a price-to-earnings ratio of 21.26 and a beta of 1.48. OUTFRONT Media Inc. has a 1-year low of $16.97 and a 1-year high of $34.96. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 3.50. The stock’s fifty day simple moving average is $31.60 and its 200-day simple moving average is $30.23.

OUTFRONT Media (NYSE:OUT) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.30. OUTFRONT Media had a return on equity of 37.44% and a net margin of 12.66%.The firm had revenue of $522.50 million during the quarter, compared to the consensus estimate of $509.61 million. During the same period in the prior year, the business earned $0.51 EPS. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. On average, sell-side analysts predict that OUTFRONT Media Inc. will post 2.18 earnings per share for the current fiscal year.

OUTFRONT Media Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.5%. This is a positive change from OUTFRONT Media’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Friday, September 4th. OUTFRONT Media’s payout ratio is currently 86.33%.

About OUTFRONT Media

OUTFRONT Media Inc is a leading out-of-home (OOH) advertising company offering a broad range of billboard, transit and digital display solutions across major urban markets in the United States and Canada. Its portfolio encompasses traditional static billboards, high-resolution digital signage, transit media on buses, trains and taxis, as well as street furniture placements such as bus shelters, kiosks and urban panels. The company partners with brand marketers to deliver high-impact campaigns that engage consumers outside the home environment.

Through an extensive network of assets in key metropolitan areas, OUTFRONT provides advertisers with premium visibility along highways, city streets and transit corridors.