KLP Kapitalforvaltning AS Takes $440,000 Position in Xerox Holdings Co. (NYSE:XRX)

KLP Kapitalforvaltning AS acquired a new stake in Xerox Holdings Co. (NYSE:XRX) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 50,900 shares of the information technology services provider’s stock, valued at approximately $440,000.

Other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Xerox by 6.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,719,607 shares of the information technology services provider’s stock worth $17,850,000 after buying an additional 107,580 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Xerox by 3.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 513,131 shares of the information technology services provider’s stock valued at $5,326,000 after acquiring an additional 17,913 shares during the last quarter. Verition Fund Management LLC acquired a new position in Xerox during the third quarter worth about $625,000. Point72 Asset Management L.P. lifted its holdings in shares of Xerox by 39.2% in the third quarter. Point72 Asset Management L.P. now owns 38,312 shares of the information technology services provider’s stock worth $398,000 after acquiring an additional 10,794 shares during the last quarter. Finally, Stifel Financial Corp boosted its stake in shares of Xerox by 44.2% in the 3rd quarter. Stifel Financial Corp now owns 152,380 shares of the information technology services provider’s stock valued at $1,582,000 after purchasing an additional 46,708 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Xerox from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $9.50.

Xerox Stock Performance

NYSE:XRX opened at $4.00 on Friday. The stock has a market cap of $501.12 million, a P/E ratio of -0.37 and a beta of 1.66. The company has a current ratio of 1.11, a quick ratio of 0.84 and a debt-to-equity ratio of 2.61. The stock’s 50-day moving average is $6.82 and its 200-day moving average is $8.44. Xerox Holdings Co. has a 1-year low of $3.75 and a 1-year high of $17.75.

Xerox Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 12.50%. The ex-dividend date of this dividend is Monday, March 31st. Xerox’s payout ratio is -4.66%.

Xerox Profile

Xerox Holdings Corporation, together with its subsidiaries, operates as a workplace technology company that integrates hardware, services, and software for enterprises in the Americas, Europe, the Middle East, Africa, India, and internationally. The company operates through two segments, Print and Other; and FITTLE.