Hexavest Inc. lowered its position in shares of KT Corp (NYSE:KT) by 19.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,658 shares of the technology company’s stock after selling 19,371 shares during the quarter. Hexavest Inc.’s holdings in KT were worth $1,227,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in KT. Fox Run Management L.L.C. bought a new stake in KT during the 3rd quarter worth about $333,000. Northern Trust Corp grew its holdings in KT by 19.7% during the 2nd quarter. Northern Trust Corp now owns 512,779 shares of the technology company’s stock worth $6,809,000 after acquiring an additional 84,472 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in KT by 30.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 68,568 shares of the technology company’s stock worth $910,000 after acquiring an additional 15,852 shares during the last quarter. Lingohr & Partner Asset Management GmbH grew its holdings in KT by 23.7% during the 2nd quarter. Lingohr & Partner Asset Management GmbH now owns 86,000 shares of the technology company’s stock worth $1,142,000 after acquiring an additional 16,500 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in KT by 37.6% during the 2nd quarter. Millennium Management LLC now owns 175,106 shares of the technology company’s stock worth $2,325,000 after acquiring an additional 47,889 shares during the last quarter. Institutional investors and hedge funds own 29.50% of the company’s stock.
A number of brokerages have commented on KT. Zacks Investment Research raised shares of KT from a “strong sell” rating to a “hold” rating in a report on Thursday, October 4th. ValuEngine raised shares of KT from a “sell” rating to a “hold” rating in a report on Tuesday, September 18th. Finally, Morgan Stanley raised shares of KT from an “underweight” rating to an “equal weight” rating in a report on Tuesday, August 7th. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $18.00.
Shares of NYSE KT opened at $13.87 on Friday. The stock has a market capitalization of $7.28 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 1.32 and a beta of 0.49. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.11 and a current ratio of 1.18. KT Corp has a 1 year low of $12.55 and a 1 year high of $16.12.
KT Company Profile
KT Corporation provides telecommunications services in Korea and internationally. The company offers local, domestic long-distance, and international long-distance fixed-line and voice over Internet protocol fixed-line telephone services, as well as interconnection services; broadband Internet access service and other Internet-related services, including IPTV services; and data communication services, such as leased line and broadband Internet connection services to institutional customers.
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