Wedge Capital Management L L P NC Buys 51,204 Shares of ADT Inc. $ADT

Key Points

• Wedge Capital Management L L P NC increased its holdings in ADT Inc. by 13.5% during the second quarter, now owning a total of 430,104 shares worth approximately $3.6 million.
• Multiple hedge funds have boosted their positions in ADT, with Two Sigma Investments LP increasing its stake by 262.1%, highlighting a trend of growing institutional interest in the company.
• ADT's recent earnings report showed an EPS of $0.23, surpassing expectations and contributing to an overall positive market outlook with a consensus price target of $9.34 from analysts.

Wedge Capital Management L L P NC boosted its holdings in shares of ADT Inc. (NYSE:ADT - Free Report) by 13.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 430,104 shares of the security and automation business's stock after acquiring an additional 51,204 shares during the quarter. Wedge Capital Management L L P NC owned 0.05% of ADT worth $3,643,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ADT. Millennium Management LLC raised its holdings in ADT by 668.5% during the 1st quarter. Millennium Management LLC now owns 7,504,051 shares of the security and automation business's stock valued at $61,083,000 after buying an additional 6,527,539 shares during the period. AQR Capital Management LLC raised its stake in ADT by 86.6% during the 1st quarter. AQR Capital Management LLC now owns 13,119,098 shares of the security and automation business's stock valued at $105,543,000 after acquiring an additional 6,089,671 shares during the last quarter. Vanguard Group Inc. grew its holdings in ADT by 11.6% during the 1st quarter. Vanguard Group Inc. now owns 49,715,950 shares of the security and automation business's stock valued at $404,688,000 after buying an additional 5,160,835 shares during the last quarter. Dimensional Fund Advisors LP raised its position in ADT by 21.6% in the first quarter. Dimensional Fund Advisors LP now owns 26,077,931 shares of the security and automation business's stock valued at $212,264,000 after purchasing an additional 4,624,120 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in ADT in the first quarter worth about $31,573,000. Institutional investors own 87.22% of the company's stock.

Insider Activity at ADT

In other news, major shareholder Apollo Management Holdings Gp, sold 71,000,000 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $8.31, for a total value of $590,010,000.00. Following the completion of the transaction, the insider owned 112,650,366 shares of the company's stock, valued at approximately $936,124,541.46. This trade represents a 38.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ADT has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of ADT from a "buy" rating to a "strong-buy" rating in a report on Saturday. Morgan Stanley boosted their price target on shares of ADT from $9.00 to $9.50 and gave the stock an "equal weight" rating in a report on Monday, July 28th. Citigroup upped their price objective on shares of ADT from $9.00 to $10.00 and gave the company a "buy" rating in a research note on Tuesday, August 26th. Finally, Zacks Research raised shares of ADT to a "strong-buy" rating in a report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, ADT presently has an average rating of "Moderate Buy" and an average target price of $9.34.

ADT Price Performance

Shares of NYSE ADT traded up $0.18 during mid-day trading on Monday, reaching $8.75. The company had a trading volume of 11,470,069 shares, compared to its average volume of 9,848,956. ADT Inc. has a 1-year low of $6.68 and a 1-year high of $8.94. The company has a current ratio of 0.46, a quick ratio of 0.37 and a debt-to-equity ratio of 1.84. The stock has a market cap of $7.27 billion, a PE ratio of 13.25 and a beta of 1.13. The company has a 50-day moving average price of $8.59 and a two-hundred day moving average price of $8.30.

ADT (NYSE:ADT - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The security and automation business reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.04. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. ADT had a return on equity of 18.58% and a net margin of 12.30%.The company's revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.17 EPS. ADT has set its FY 2025 guidance at 0.810-0.890 EPS. On average, equities analysts anticipate that ADT Inc. will post 0.7 earnings per share for the current year.

ADT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th will be paid a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a yield of 2.5%. The ex-dividend date is Thursday, September 11th. ADT's payout ratio is presently 33.33%.

ADT Company Profile

ADT Inc provides security, interactive, and smart home solutions to residential and small business customers in the United States. It operates through two segments, Consumer and Small Business, and Solar. The company provides burglar and life safety alarms, smart security cameras, smart home automation systems, and video surveillance systems.