Morgan Stanley Has $2.07 Million Stake in Neff Corporation (NEFF)
Morgan Stanley raised its stake in Neff Corporation (NYSE:NEFF) by 1.8% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 106,192 shares of the industrial products company’s stock after buying an additional 1,895 shares during the period. Morgan Stanley owned approximately 1.20% of Neff Corporation worth $2,065,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in NEFF. Dimensional Fund Advisors LP boosted its position in Neff Corporation by 42.0% in the first quarter. Dimensional Fund Advisors LP now owns 121,826 shares of the industrial products company’s stock valued at $2,370,000 after buying an additional 36,030 shares in the last quarter. Globeflex Capital L P increased its stake in Neff Corporation by 46.3% in the first quarter. Globeflex Capital L P now owns 110,100 shares of the industrial products company’s stock valued at $2,141,000 after buying an additional 34,868 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in Neff Corporation during the first quarter valued at $377,000. Vanguard Group Inc. increased its stake in Neff Corporation by 7.7% in the first quarter. Vanguard Group Inc. now owns 387,886 shares of the industrial products company’s stock valued at $7,545,000 after buying an additional 27,630 shares during the last quarter. Finally, Mackenzie Financial Corp purchased a new stake in Neff Corporation during the first quarter valued at $486,000. 91.02% of the stock is owned by institutional investors and hedge funds.
Neff Corporation (NEFF) remained flat at $24.85 during mid-day trading on Monday. 17,823 shares of the stock traded hands. The stock has a market capitalization of $220.97 million, a price-to-earnings ratio of 17.81 and a beta of 3.41. The company’s 50-day moving average price is $21.94 and its 200-day moving average price is $18.64. Neff Corporation has a 52-week low of $8.50 and a 52-week high of $26.45.
Neff Corporation (NYSE:NEFF) last released its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by $0.16. Neff Corporation had a net margin of 3.26% and a negative return on equity of 9.21%. The company had revenue of $104.10 million for the quarter, compared to the consensus estimate of $104.35 million. During the same period last year, the company earned $0.31 earnings per share. Neff Corporation’s revenue for the quarter was up 4.4% compared to the same quarter last year. Equities research analysts forecast that Neff Corporation will post $1.71 earnings per share for the current year.
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Several analysts have recently weighed in on the company. ValuEngine downgraded Neff Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, August 4th. Jefferies Group LLC reissued a “neutral” rating on shares of Neff Corporation in a report on Thursday, August 3rd. Zacks Investment Research downgraded Neff Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Finally, Wells Fargo & Company reissued a “market perform” rating and issued a $18.00 target price (up from $8.50) on shares of Neff Corporation in a report on Tuesday, June 6th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $20.17.
Neff Corporation Company Profile
Neff Corporation is an equipment rental company. The Company offers an array of equipment rental solutions for its customer base, including infrastructure, non-residential construction, oil and gas, and residential construction customers. Its fleet of equipment includes earthmoving, material handling, aerial and other rental equipment.
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