Seagate Technology PLC (STX) Stake Increased by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Seagate Technology PLC (NASDAQ:STX) by 25.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,717 shares of the data storage provider’s stock after acquiring an additional 13,842 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Seagate Technology were worth $2,652,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. TIAA CREF Investment Management LLC increased its position in Seagate Technology by 4.6% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 6,800 shares of the data storage provider’s stock worth $322,000 after purchasing an additional 298 shares in the last quarter. Ontario Teachers Pension Plan Board increased its position in Seagate Technology by 0.6% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 52,100 shares of the data storage provider’s stock worth $2,011,000 after purchasing an additional 300 shares in the last quarter. Certified Advisory Corp increased its position in Seagate Technology by 17.5% during the 4th quarter. Certified Advisory Corp now owns 2,028 shares of the data storage provider’s stock worth $78,000 after purchasing an additional 302 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in Seagate Technology by 1.1% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 36,971 shares of the data storage provider’s stock worth $1,427,000 after purchasing an additional 400 shares in the last quarter. Finally, Cigna Investments Inc. New increased its position in Seagate Technology by 7.9% during the 4th quarter. Cigna Investments Inc. New now owns 5,475 shares of the data storage provider’s stock worth $211,000 after purchasing an additional 400 shares in the last quarter. 94.39% of the stock is owned by institutional investors.

In other news, Director Holdings L.P. Valueact acquired 750,000 shares of the firm’s stock in a transaction dated Wednesday, February 6th. The stock was bought at an average cost of $45.68 per share, for a total transaction of $34,260,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Valueact Capital Master Fund, acquired 2,225,000 shares of the firm’s stock in a transaction dated Friday, February 8th. The shares were purchased at an average price of $44.90 per share, with a total value of $99,902,500.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 3,700,000 shares of company stock valued at $166,497,500 and sold 120,832 shares valued at $5,541,064. Corporate insiders own 1.00% of the company’s stock.

Shares of NASDAQ STX opened at $47.68 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.60 and a debt-to-equity ratio of 2.24. Seagate Technology PLC has a 52-week low of $35.38 and a 52-week high of $62.70. The company has a market capitalization of $13.31 billion, a price-to-earnings ratio of 8.65, a price-to-earnings-growth ratio of 5.16 and a beta of 1.65.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Monday, February 4th. The data storage provider reported $1.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.14. Seagate Technology had a net margin of 14.77% and a return on equity of 105.74%. The firm had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.71 billion. During the same period in the prior year, the company posted $1.48 EPS. The company’s revenue was down 6.6% on a year-over-year basis. As a group, research analysts expect that Seagate Technology PLC will post 4.66 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 20th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 5.29%. The ex-dividend date is Tuesday, March 19th. Seagate Technology’s dividend payout ratio (DPR) is currently 45.74%.

A number of equities analysts recently issued reports on STX shares. ValuEngine upgraded shares of Seagate Technology from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 2nd. BidaskClub upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research report on Thursday, December 27th. Evercore ISI lowered their price objective on shares of Seagate Technology from $40.00 to $33.00 and set an “underperform” rating for the company in a research report on Monday, January 14th. Craig Hallum lowered their price objective on shares of Seagate Technology from $47.00 to $41.00 and set a “hold” rating for the company in a research report on Tuesday, February 5th. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $42.00 price objective on shares of Seagate Technology in a research report on Wednesday, January 2nd. Six equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and four have issued a buy rating to the company. Seagate Technology currently has a consensus rating of “Hold” and a consensus target price of $45.50.

ILLEGAL ACTIVITY NOTICE: “Seagate Technology PLC (STX) Stake Increased by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp” was originally posted by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another website, it was stolen and reposted in violation of United States & international copyright & trademark legislation. The correct version of this story can be read at https://www.americanbankingnews.com/2019/03/17/seagate-technology-plc-stx-stake-increased-by-british-columbia-investment-management-corp.html.

Seagate Technology Profile

Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It manufactures and distributes hard disk drives; solid state drives (SSDs), including serial attached small computer system interface and non-volatile memory express SSDs; solid state hybrid drives; and storage subsystems.

Featured Story: Strike Price

Institutional Ownership by Quarter for Seagate Technology (NASDAQ:STX)

Receive News & Ratings for Seagate Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seagate Technology and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply