Allspring Global Investments Holdings LLC Boosts Stock Position in Teekay Corporation Ltd. $TK

Allspring Global Investments Holdings LLC lifted its holdings in shares of Teekay Corporation Ltd. (NYSE:TK) by 25.8% during the fourth quarter, HoldingsChannel reports. The firm owned 1,753,892 shares of the shipping company’s stock after purchasing an additional 359,376 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Teekay were worth $15,469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in TK. Baron Wealth Management LLC bought a new stake in shares of Teekay in the 4th quarter worth approximately $95,000. Exchange Traded Concepts LLC purchased a new stake in Teekay during the fourth quarter valued at about $245,000. Diversified Trust Co. boosted its position in Teekay by 14.2% during the fourth quarter. Diversified Trust Co. now owns 25,822 shares of the shipping company’s stock worth $233,000 after purchasing an additional 3,202 shares during the period. Tudor Investment Corp ET AL increased its stake in shares of Teekay by 191.0% in the third quarter. Tudor Investment Corp ET AL now owns 407,901 shares of the shipping company’s stock worth $3,337,000 after purchasing an additional 267,743 shares in the last quarter. Finally, Coldstream Capital Management Inc. purchased a new position in shares of Teekay in the third quarter worth about $193,000. 46.73% of the stock is owned by hedge funds and other institutional investors.

Teekay Price Performance

Shares of NYSE:TK opened at $12.70 on Friday. The firm has a fifty day moving average price of $11.57 and a two-hundred day moving average price of $10.02. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 11.24 and a beta of 0.18. Teekay Corporation Ltd. has a one year low of $5.65 and a one year high of $13.76.

Teekay (NYSE:TK) last issued its quarterly earnings data on Friday, March 13th. The shipping company reported $0.37 earnings per share (EPS) for the quarter. The company had revenue of $243.09 million for the quarter. Teekay had a return on equity of 4.76% and a net margin of 10.33%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on TK shares. Wall Street Zen downgraded shares of Teekay from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Teekay in a report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Teekay currently has a consensus rating of “Hold”.

About Teekay

Teekay Corporation (NYSE: TK) is a global provider of marine transportation and offshore production solutions for the energy industry. Founded in 1973 and headquartered in Vancouver, Canada, Teekay designs, owns and operates a diversified fleet of tankers and floating production, storage and offloading (FPSO) units. The company specializes in the movement and storage of crude oil, liquefied natural gas (LNG) and liquefied petroleum gas (LPG), offering integrated services that range from tanker transport to offshore production and marine maintenance.

Teekay’s core business is organized into three operating segments.