Canada Pension Plan Investment Board Raises Position in Charter Communications, Inc. (NASDAQ:CHTR)

Canada Pension Plan Investment Board increased its position in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 158.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 53,147 shares of the company's stock after acquiring an additional 32,600 shares during the period. Canada Pension Plan Investment Board's holdings in Charter Communications were worth $18,217,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Franklin Resources Inc. raised its stake in Charter Communications by 4.9% during the 3rd quarter. Franklin Resources Inc. now owns 3,179,454 shares of the company's stock valued at $1,052,868,000 after buying an additional 148,003 shares during the last quarter. Norges Bank purchased a new stake in Charter Communications during the fourth quarter valued at $1,032,236,000. Geode Capital Management LLC increased its position in Charter Communications by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 2,477,276 shares of the company's stock valued at $847,087,000 after acquiring an additional 45,045 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Charter Communications by 130.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,078,175 shares of the company's stock valued at $369,566,000 after acquiring an additional 609,554 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Charter Communications by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 847,921 shares of the company's stock valued at $290,642,000 after purchasing an additional 23,225 shares during the period. 81.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Benchmark reissued a "buy" rating and issued a $450.00 price objective on shares of Charter Communications in a report on Friday, January 31st. Citigroup initiated coverage on shares of Charter Communications in a research report on Friday, March 14th. They set a "buy" rating and a $425.00 price objective for the company. BNP Paribas reaffirmed an "underperform" rating and issued a $290.00 target price on shares of Charter Communications in a report on Thursday, April 10th. Wells Fargo & Company cut their price target on Charter Communications from $400.00 to $380.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. Finally, Royal Bank of Canada raised their price objective on Charter Communications from $380.00 to $385.00 and gave the stock a "sector perform" rating in a research note on Monday, February 3rd. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $387.88.

Charter Communications Price Performance

Shares of CHTR traded up $38.32 during midday trading on Friday, hitting $373.65. 2,701,636 shares of the company traded hands, compared to its average volume of 1,254,569. Charter Communications, Inc. has a 52 week low of $236.08 and a 52 week high of $415.27. The company has a debt-to-equity ratio of 4.73, a quick ratio of 0.31 and a current ratio of 0.31. The firm has a 50 day moving average of $355.36 and a 200-day moving average of $358.47. The stock has a market cap of $53.04 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 0.44 and a beta of 1.13.

Charter Communications (NASDAQ:CHTR - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The company reported $8.42 earnings per share for the quarter, missing the consensus estimate of $8.70 by ($0.28). Charter Communications had a net margin of 9.23% and a return on equity of 29.01%. The firm had revenue of $13.74 billion for the quarter, compared to analysts' expectations of $13.67 billion. During the same quarter in the prior year, the business earned $7.55 EPS. On average, analysts forecast that Charter Communications, Inc. will post 38.16 EPS for the current fiscal year.

Charter Communications Company Profile

Charter Communications, Inc operates as a broadband connectivity and cable operator company serving residential and commercial customers in the United States. The company offers subscription-based internet, video, and mobile and voice services; a suite of broadband connectivity services, including fixed internet, WiFi, and mobile; Advanced WiFi services; Spectrum Security Shield; in-home WiFi, which provides customers with high performance wireless routers and managed WiFi services to enhance their fixed wireless internet experience; out-of-home WiFi; and Spectrum WiFi services.