Formidable Asset Management LLC purchased a new stake in Maximus, Inc. (NYSE:MMS) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,883 shares of the health services provider’s stock, valued at approximately $323,000.
Several other hedge funds also recently modified their holdings of MMS. Nuveen Asset Management LLC lifted its stake in Maximus by 14.4% during the second quarter. Nuveen Asset Management LLC now owns 459,924 shares of the health services provider’s stock worth $40,459,000 after purchasing an additional 58,058 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in Maximus by 8.8% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 369,412 shares of the health services provider’s stock valued at $30,735,000 after purchasing an additional 29,862 shares during the period. Federated Hermes Inc. increased its holdings in Maximus by 3.4% in the second quarter. Federated Hermes Inc. now owns 272,306 shares of the health services provider’s stock valued at $23,955,000 after purchasing an additional 8,932 shares during the period. First Trust Advisors LP increased its holdings in Maximus by 8.7% in the second quarter. First Trust Advisors LP now owns 104,260 shares of the health services provider’s stock valued at $9,172,000 after purchasing an additional 8,374 shares during the period. Finally, Mengis Capital Management Inc. acquired a new stake in Maximus in the third quarter valued at $416,000. Institutional investors and hedge funds own 93.68% of the company’s stock.
Separately, Zacks Investment Research downgraded Maximus from a “buy” rating to a “hold” rating and set a $85.00 price objective for the company. in a report on Tuesday, November 23rd.
Maximus (NYSE:MMS) last issued its quarterly earnings results on Thursday, November 18th. The health services provider reported $1.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.21. Maximus had a return on equity of 22.53% and a net margin of 6.84%. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period last year, the business posted $1.02 EPS. The business’s revenue was up 19.7% compared to the same quarter last year. Equities research analysts forecast that Maximus, Inc. will post 4.16 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, February 28th. Shareholders of record on Tuesday, February 15th will be issued a dividend of $0.28 per share. The ex-dividend date is Monday, February 14th. This represents a $1.12 dividend on an annualized basis and a yield of 1.45%. Maximus’s payout ratio is currently 24.03%.
In other news, Vice Chairman Richard A. Montoni sold 12,949 shares of the stock in a transaction dated Tuesday, December 28th. The shares were sold at an average price of $80.05, for a total transaction of $1,036,567.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel David Francis sold 6,188 shares of the stock in a transaction dated Friday, November 19th. The stock was sold at an average price of $81.53, for a total transaction of $504,507.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,767 shares of company stock valued at $3,375,131. Company insiders own 1.90% of the company’s stock.
MAXIMUS, Inc engages in the operation of government and human services programs. It operates through the following segments: U.S. Services; U.S. Federal Services; and Outside the U.S. The U.S. Services segment offers a variety of business process services, and appeals and assessments for state, provincial and national government programs.
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