Federated Hermes Inc. Trims Holdings in OUTFRONT Media Inc. (NYSE:OUT)

Key Points

• Federated Hermes Inc. reduced its holdings in OUTFRONT Media Inc. by 15.6%, selling 100,421 shares and leaving it with a 0.33% ownership valued at $8,797,000.
• Several large investors made significant changes to their positions during the first quarter, with Assetmark Inc. boosting its holdings by an astonishing 46,052.7%.
• A quarterly dividend of $0.30 per share was recently paid, reflecting an annualized basis of $1.20 and a dividend yield of 7.0%.

Federated Hermes Inc. trimmed its position in shares of OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 15.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 545,035 shares of the financial services provider's stock after selling 100,421 shares during the quarter. Federated Hermes Inc. owned approximately 0.33% of OUTFRONT Media worth $8,797,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Sterling Capital Management LLC raised its position in shares of OUTFRONT Media by 672.5% in the 4th quarter. Sterling Capital Management LLC now owns 2,897 shares of the financial services provider's stock worth $51,000 after purchasing an additional 2,522 shares during the last quarter. Rossby Financial LCC purchased a new stake in OUTFRONT Media during the 1st quarter valued at $74,000. Lazard Asset Management LLC purchased a new stake in OUTFRONT Media during the 4th quarter valued at $113,000. IFP Advisors Inc raised its stake in OUTFRONT Media by 97.6% during the 1st quarter. IFP Advisors Inc now owns 6,708 shares of the financial services provider's stock valued at $113,000 after buying an additional 3,313 shares during the last quarter. Finally, Signaturefd LLC grew its position in shares of OUTFRONT Media by 8.5% during the 1st quarter. Signaturefd LLC now owns 9,203 shares of the financial services provider's stock valued at $149,000 after acquiring an additional 722 shares during the period.

OUTFRONT Media Price Performance

OUT stock traded up $0.70 during mid-day trading on Monday, hitting $17.92. The company had a trading volume of 1,558,040 shares, compared to its average volume of 1,578,139. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of 11.80, a P/E/G ratio of 1.04 and a beta of 1.89. OUTFRONT Media Inc. has a 12-month low of $12.95 and a 12-month high of $19.50. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 4.37. The company has a 50-day moving average price of $16.85 and a 200 day moving average price of $16.75.

OUTFRONT Media (NYSE:OUT - Get Free Report) last announced its earnings results on Thursday, May 8th. The financial services provider reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.01). The business had revenue of $390.70 million for the quarter, compared to analysts' expectations of $396.17 million. OUTFRONT Media had a net margin of 14.60% and a return on equity of 42.24%. On average, research analysts anticipate that OUTFRONT Media Inc. will post 1.59 earnings per share for the current year.

OUTFRONT Media Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, June 6th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.7%. OUTFRONT Media's payout ratio is currently 78.95%.

Insider Activity at OUTFRONT Media

In related news, EVP Richard H. Sauer sold 29,891 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $15.79, for a total value of $471,978.89. Following the sale, the executive vice president directly owned 90,945 shares of the company's stock, valued at $1,436,021.55. This represents a 24.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.47% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on OUT. Wells Fargo & Company reissued an "overweight" rating on shares of OUTFRONT Media in a research report on Sunday, July 20th. Morgan Stanley boosted their price objective on shares of OUTFRONT Media from $17.00 to $19.00 and gave the company an "equal weight" rating in a research report on Monday. JPMorgan Chase & Co. dropped their target price on shares of OUTFRONT Media from $20.00 to $19.00 and set a "neutral" rating for the company in a report on Wednesday, May 21st. Citigroup reaffirmed a "buy" rating and issued a $19.00 target price (up previously from $17.00) on shares of OUTFRONT Media in a report on Thursday, May 29th. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $21.00 target price on shares of OUTFRONT Media in a report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $19.00.

OUTFRONT Media Profile

OUTFRONT Media, Inc leases advertising space on out-of-home advertising structures and sites. Its inventory consists of billboard displays, which are primarily located on the most heavily traveled highways & roadways, and transit advertising displays operated under exclusive multi-year contracts with municipalities in large cities across the U.S.