Invesco Ltd. Sells 209,055 Shares of ATS Corporation $ATS

Key Points

• Invesco Ltd. has reduced its holdings in ATS Corporation by 13.0%, selling 209,055 shares and retaining approximately 1.43% of the company valued at $34,954,000.
• Other institutional investors, such as Tower Research Capital and Steph & Co., have increased their stakes significantly, highlighting a mixed sentiment towards ATS in the market.
• Despite a revenue increase of 6.1% year-over-year, ATS reported quarterly earnings of $0.30 per share, which beat estimates, but showed a negative net margin of -1.44%.

Invesco Ltd. reduced its holdings in shares of ATS Corporation (NYSE:ATS - Free Report) by 13.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,402,085 shares of the company's stock after selling 209,055 shares during the quarter. Invesco Ltd. owned approximately 1.43% of ATS worth $34,954,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tower Research Capital LLC TRC grew its stake in shares of ATS by 561.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,171 shares of the company's stock valued at $66,000 after buying an additional 1,843 shares in the last quarter. Steph & Co. grew its stake in shares of ATS by 223.6% in the first quarter. Steph & Co. now owns 5,317 shares of the company's stock valued at $133,000 after buying an additional 3,674 shares in the last quarter. Deutsche Bank AG grew its stake in shares of ATS by 41.6% in the fourth quarter. Deutsche Bank AG now owns 7,320 shares of the company's stock valued at $223,000 after buying an additional 2,149 shares in the last quarter. Cidel Asset Management Inc. grew its stake in shares of ATS by 8.5% in the first quarter. Cidel Asset Management Inc. now owns 8,286 shares of the company's stock valued at $207,000 after buying an additional 650 shares in the last quarter. Finally, Mariner LLC grew its stake in shares of ATS by 8.0% in the fourth quarter. Mariner LLC now owns 9,328 shares of the company's stock valued at $284,000 after buying an additional 689 shares in the last quarter. 75.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Scotiabank raised shares of ATS to a "hold" rating in a research note on Tuesday, April 29th. Wall Street Zen raised ATS from a "sell" rating to a "hold" rating in a report on Saturday, July 5th.

ATS Trading Down 1.0%

Shares of ATS stock opened at $27.44 on Tuesday. The business has a fifty day simple moving average of $30.51 and a two-hundred day simple moving average of $28.17. ATS Corporation has a 1 year low of $20.90 and a 1 year high of $33.13. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of -101.61 and a beta of 1.28. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.62 and a quick ratio of 1.32.

ATS (NYSE:ATS - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.03. ATS had a positive return on equity of 7.79% and a negative net margin of 1.44%. The business had revenue of $541.11 million during the quarter, compared to the consensus estimate of $712.16 million. During the same quarter last year, the firm posted $0.50 EPS. The company's quarterly revenue was up 6.1% on a year-over-year basis. Research analysts forecast that ATS Corporation will post 1.02 EPS for the current year.

About ATS

ATS Corporation, together with its subsidiaries, provides automation solutions worldwide. The company is also involved in planning, designing, building, commissioning, and servicing automated manufacturing and assembly systems, including automation products and test solutions. In addition, it offers pre-automation services comprising discovery and analysis, concept development, simulation, and total cost of ownership modelling; post automation services, including training, process optimization, preventative maintenance, emergency and on-call support, spare parts, retooling, retrofits, and equipment relocation; and contract manufacturing services, as well as after sales and services.

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