1,046,068 Shares in Xerox Holdings Co. $XRX Bought by Private Management Group Inc.

Key Points

• Private Management Group Inc. bought a new stake of 1,046,068 shares of Xerox in Q2 (≈$5.51 million), representing about 0.83% of the company.
• Wall Street has a consensus rating of "Hold" with a consensus price target of $3.50 (Citigroup recently cut its target to $3.50); the stock has a market cap of about $335 million and was up ~12% recently, trading near $2.62.
• Xerox reported an EPS beat (Q: $0.20 vs. est. -$0.18) with revenue up 28.3% YoY and declared a quarterly dividend of $0.025 (annualized $0.10, ~3.8% yield), though the company shows a negative net margin and elevated debt-to-equity (~2.61).

Private Management Group Inc. purchased a new stake in Xerox Holdings Co. (NYSE:XRX - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,046,068 shares of the information technology services provider's stock, valued at approximately $5,513,000. Private Management Group Inc. owned about 0.83% of Xerox at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of XRX. PNC Financial Services Group Inc. lifted its stake in Xerox by 110.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,539 shares of the information technology services provider's stock valued at $27,000 after purchasing an additional 2,911 shares during the last quarter. Spire Wealth Management bought a new stake in Xerox in the second quarter valued at approximately $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Xerox in the second quarter valued at approximately $34,000. Plato Investment Management Ltd bought a new position in shares of Xerox during the 2nd quarter worth approximately $44,000. Finally, FORA Capital LLC acquired a new position in shares of Xerox during the 1st quarter worth approximately $49,000. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Citigroup cut their price target on Xerox from $4.50 to $3.50 and set a "neutral" rating for the company in a report on Monday, November 10th. Zacks Research raised shares of Xerox from a "strong sell" rating to a "hold" rating in a research report on Wednesday, September 3rd. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $3.50.

Xerox Stock Up 12.0%

XRX stock opened at $2.62 on Friday. The business's fifty day moving average price is $3.34 and its two-hundred day moving average price is $4.33. The stock has a market capitalization of $335.46 million, a price-to-earnings ratio of -0.24 and a beta of 1.80. Xerox Holdings Co. has a fifty-two week low of $2.32 and a fifty-two week high of $9.91. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.11 and a quick ratio of 0.84.

Xerox (NYSE:XRX - Get Free Report) last released its quarterly earnings results on Thursday, October 30th. The information technology services provider reported $0.20 EPS for the quarter, beating the consensus estimate of ($0.18) by $0.38. Xerox had a negative net margin of 21.24% and a positive return on equity of 7.57%. During the same period in the prior year, the firm earned $0.25 EPS. Xerox's quarterly revenue was up 28.3% on a year-over-year basis. Xerox has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Xerox Holdings Co. will post 1.07 earnings per share for the current year.

Xerox Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Wednesday, December 31st. Xerox's payout ratio is presently -1.28%.

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.

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