New England Asset Management Inc. Trims Holdings in Outfront Media Inc (NYSE:OUT)

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New England Asset Management Inc. trimmed its position in Outfront Media Inc (NYSE:OUT) by 1.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 138,350 shares of the financial services provider’s stock after selling 1,600 shares during the quarter. New England Asset Management Inc. owned about 0.10% of Outfront Media worth $3,568,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Huntington National Bank grew its holdings in Outfront Media by 1,098.2% during the 2nd quarter. Huntington National Bank now owns 1,342 shares of the financial services provider’s stock valued at $35,000 after buying an additional 1,230 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new stake in Outfront Media during the 2nd quarter valued at approximately $41,000. Marshall Wace North America L.P. purchased a new stake in Outfront Media during the 1st quarter valued at approximately $44,000. Redhawk Wealth Advisors Inc. purchased a new stake in Outfront Media during the 2nd quarter valued at approximately $45,000. Finally, Stevens First Principles Investment Advisors purchased a new stake in Outfront Media during the 2nd quarter valued at approximately $68,000. 94.89% of the stock is owned by institutional investors.

Shares of NYSE OUT traded up $0.25 during midday trading on Friday, reaching $28.03. 1,925,733 shares of the stock traded hands, compared to its average volume of 1,082,653. The company has a debt-to-equity ratio of 3.06, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $3.83 billion, a PE ratio of 11.88, a P/E/G ratio of 1.37 and a beta of 1.10. Outfront Media Inc has a one year low of $16.81 and a one year high of $28.41. The company’s 50 day moving average is $27.31 and its 200 day moving average is $25.37.

Outfront Media (NYSE:OUT) last posted its earnings results on Monday, August 5th. The financial services provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.25). The firm had revenue of $459.90 million for the quarter, compared to the consensus estimate of $451.73 million. Outfront Media had a net margin of 9.45% and a return on equity of 14.27%. The firm’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.04) earnings per share. As a group, equities analysts forecast that Outfront Media Inc will post 2.19 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.14%. Outfront Media’s dividend payout ratio is currently 66.98%.

A number of equities research analysts have issued reports on the stock. Imperial Capital increased their price objective on shares of Outfront Media from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Zacks Investment Research raised shares of Outfront Media from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a report on Saturday, August 10th. Finally, Barrington Research reaffirmed a “buy” rating and set a $29.00 price objective on shares of Outfront Media in a report on Wednesday, May 29th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $27.85.

Outfront Media Company Profile

OUTFRONT leverages the power of technology, location and creativity to connect brands with consumers outside of their homes through one of the largest and most diverse sets of billboard, transit, and mobile assets in North America. Through its ON Smart Media platform, OUTFRONT is implementing digital technology that will fundamentally change the ways advertisers engage audiences on-the-go.

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Institutional Ownership by Quarter for Outfront Media (NYSE:OUT)

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