Pinebridge Investments L.P. Increases Stock Position in Leidos Holdings Inc (NYSE:LDOS)
Pinebridge Investments L.P. boosted its stake in Leidos Holdings Inc (NYSE:LDOS) by 0.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,348 shares of the aerospace company’s stock after purchasing an additional 320 shares during the quarter. Pinebridge Investments L.P.’s holdings in Leidos were worth $2,822,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in LDOS. CWM LLC lifted its stake in Leidos by 66.0% in the 2nd quarter. CWM LLC now owns 332 shares of the aerospace company’s stock worth $27,000 after purchasing an additional 132 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of Leidos during the 2nd quarter valued at about $27,000. Icon Wealth Partners LLC purchased a new stake in shares of Leidos during the 1st quarter valued at about $37,000. TRUE Private Wealth Advisors purchased a new stake in shares of Leidos during the 2nd quarter valued at about $68,000. Finally, Zions Bancorporation N.A. purchased a new stake in shares of Leidos during the 1st quarter valued at about $87,000. Institutional investors and hedge funds own 74.71% of the company’s stock.
NYSE:LDOS traded down $0.19 during mid-day trading on Friday, hitting $85.82. 1,000,165 shares of the stock traded hands, compared to its average volume of 1,238,115. The stock has a market capitalization of $12.42 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 2.44 and a beta of 1.55. Leidos Holdings Inc has a 52 week low of $50.33 and a 52 week high of $89.00. The firm’s 50 day moving average is $84.25 and its two-hundred day moving average is $75.14. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.96.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.58%. This is an increase from Leidos’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, September 13th. Leidos’s dividend payout ratio is presently 29.22%.
Several analysts have recently issued reports on the stock. Citigroup cut shares of Leidos from a “buy” rating to a “neutral” rating and upped their target price for the company from $75.00 to $83.00 in a research report on Tuesday, July 9th. Zacks Investment Research cut shares of Leidos from a “buy” rating to a “hold” rating and set a $85.00 target price on the stock. in a research report on Tuesday, July 2nd. Morgan Stanley upped their target price on shares of Leidos from $75.00 to $81.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 21st. SunTrust Banks upped their price target on shares of Leidos to $95.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, ValuEngine downgraded shares of Leidos from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Leidos has a consensus rating of “Buy” and an average price target of $82.60.
In related news, Director Gary Stephen May sold 500 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $84.57, for a total transaction of $42,285.00. Following the transaction, the director now directly owns 9,166 shares in the company, valued at approximately $775,168.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.17% of the company’s stock.
Leidos Holdings, Inc provides services and solutions in the defense, intelligence, civil, and health markets in the United States and internationally. It operates through three segments: Defense Solutions, Civil, and Health. The Defense Solutions segment offers national security solutions and systems for air, land, sea, space, and cyberspace for the U.S.
See Also: What is a back-end load?
Receive News & Ratings for Leidos Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Leidos and related companies with MarketBeat.com's FREE daily email newsletter.