Seagate Technology PLC (STX) Stake Decreased by Envestnet Asset Management Inc.
Envestnet Asset Management Inc. cut its position in shares of Seagate Technology PLC (NASDAQ:STX) by 56.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 105,053 shares of the data storage provider’s stock after selling 134,875 shares during the period. Envestnet Asset Management Inc.’s holdings in Seagate Technology were worth $3,486,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. ValueAct Holdings L.P. grew its stake in Seagate Technology by 44.8% in the 2nd quarter. ValueAct Holdings L.P. now owns 13,815,765 shares of the data storage provider’s stock valued at $535,361,000 after buying an additional 4,276,275 shares during the last quarter. Janus Henderson Group PLC grew its stake in Seagate Technology by 7,384.8% in the 2nd quarter. Janus Henderson Group PLC now owns 2,700,947 shares of the data storage provider’s stock valued at $104,662,000 after buying an additional 2,664,861 shares during the last quarter. Vanguard Group Inc. grew its stake in Seagate Technology by 7.4% in the 2nd quarter. Vanguard Group Inc. now owns 33,412,003 shares of the data storage provider’s stock valued at $1,294,716,000 after buying an additional 2,292,075 shares during the last quarter. Schroder Investment Management Group grew its stake in Seagate Technology by 181.1% in the 2nd quarter. Schroder Investment Management Group now owns 1,772,547 shares of the data storage provider’s stock valued at $68,970,000 after buying an additional 1,141,917 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Seagate Technology by 39.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,896,118 shares of the data storage provider’s stock valued at $96,064,000 after buying an additional 817,861 shares during the last quarter. Institutional investors own 91.76% of the company’s stock.
Shares of Seagate Technology PLC (STX) opened at $42.12 on Wednesday. Seagate Technology PLC has a twelve month low of $30.60 and a twelve month high of $50.96. The company has a current ratio of 1.96, a quick ratio of 1.55 and a debt-to-equity ratio of 4.03. The firm has a market cap of $11,708.72, a P/E ratio of 9.89, a PEG ratio of 0.54 and a beta of 1.67.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Wednesday, December 20th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 5.98%. The ex-dividend date is Tuesday, December 19th. Seagate Technology’s dividend payout ratio (DPR) is presently 95.09%.
In related news, insider Jeffrey D. Nygaard acquired 5,000 shares of the stock in a transaction that occurred on Friday, October 27th. The stock was acquired at an average cost of $37.38 per share, for a total transaction of $186,900.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Edward J. Zander sold 15,089 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $38.79, for a total transaction of $585,302.31. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,481 shares of company stock valued at $1,655,011. 0.87% of the stock is owned by corporate insiders.
STX has been the subject of a number of recent research reports. Mizuho reissued a “hold” rating and issued a $36.00 price objective on shares of Seagate Technology in a report on Monday, October 9th. FBN Securities downgraded shares of Seagate Technology from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $40.00 to $32.00 in a report on Monday, September 11th. Zacks Investment Research raised shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Thursday, October 26th. Royal Bank of Canada reissued a “hold” rating and issued a $35.00 price objective on shares of Seagate Technology in a report on Friday, September 1st. Finally, BidaskClub raised shares of Seagate Technology from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 25th. Four equities research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $41.53.
Seagate Technology Company Profile
Seagate Technology public limited company is a provider of electronic data storage technology and solutions. The Company’s principal products are hard disk drives (HDDs). In addition to HDDs, it produces a range of electronic data storage products, including solid state hybrid drives, solid state drives, peripheral component interconnect express (PCIe) cards and serial advanced technology architecture (SATA) controllers.
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