Mackenzie Financial Corp Has $190.07 Million Holdings in Maximus, Inc. (NYSE:MMS)

Key Points

• Mackenzie Financial Corp increased its stake in Maximus, Inc. by 0.2% during the first quarter, bringing its total ownership to approximately 2.79 million shares, valued at $190 million.
• Maximus recently had its rating downgraded from "buy" to "hold" by Wall Street analysts, indicating a change in outlook on the stock's performance.
• The company announced a quarterly dividend of $0.30 per share, with a yield of 1.63%, to be paid on August 31st.

Mackenzie Financial Corp raised its stake in Maximus, Inc. (NYSE:MMS - Free Report) by 0.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,787,398 shares of the health services provider's stock after acquiring an additional 5,248 shares during the period. Mackenzie Financial Corp owned 4.92% of Maximus worth $190,073,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in MMS. UMB Bank n.a. raised its holdings in shares of Maximus by 70.2% in the first quarter. UMB Bank n.a. now owns 606 shares of the health services provider's stock valued at $41,000 after buying an additional 250 shares during the last quarter. GAMMA Investing LLC increased its position in Maximus by 67.1% during the 1st quarter. GAMMA Investing LLC now owns 732 shares of the health services provider's stock worth $50,000 after purchasing an additional 294 shares in the last quarter. NBC Securities Inc. grew its position in shares of Maximus by 114,900.0% in the first quarter. NBC Securities Inc. now owns 1,150 shares of the health services provider's stock valued at $78,000 after purchasing an additional 1,149 shares during the period. Blue Trust Inc. raised its holdings in shares of Maximus by 32.8% in the 1st quarter. Blue Trust Inc. now owns 1,228 shares of the health services provider's stock worth $84,000 after purchasing an additional 303 shares during the period. Finally, LRI Investments LLC grew its stake in shares of Maximus by 44.1% in the fourth quarter. LRI Investments LLC now owns 1,638 shares of the health services provider's stock valued at $122,000 after buying an additional 501 shares in the last quarter. Hedge funds and other institutional investors own 97.21% of the company's stock.

Insider Activity

In related news, Director Gayathri Rajan sold 7,913 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $72.38, for a total transaction of $572,742.94. Following the completion of the sale, the director directly owned 14,205 shares in the company, valued at approximately $1,028,157.90. This trade represents a 35.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of Maximus from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th.

Maximus Stock Performance

Shares of NYSE MMS traded up $2.76 during midday trading on Thursday, hitting $73.99. 497,448 shares of the company's stock were exchanged, compared to its average volume of 553,624. The firm has a market cap of $4.17 billion, a P/E ratio of 14.72 and a beta of 0.61. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.84 and a quick ratio of 1.84. Maximus, Inc. has a twelve month low of $63.77 and a twelve month high of $93.97. The stock's 50 day moving average price is $71.30 and its 200-day moving average price is $70.61.

Maximus (NYSE:MMS - Get Free Report) last released its earnings results on Thursday, May 8th. The health services provider reported $2.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.37 by $0.64. Maximus had a return on equity of 23.37% and a net margin of 5.56%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period in the previous year, the company earned $1.57 earnings per share. Maximus's revenue was up 1.0% compared to the same quarter last year. Equities research analysts anticipate that Maximus, Inc. will post 6.15 EPS for the current year.

Maximus Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, August 31st. Stockholders of record on Friday, August 15th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.62%. Maximus's payout ratio is currently 23.86%.

Maximus Company Profile

Maximus, Inc operates as a provider of government services in the United States and internationally. It operates through three segments: U.S. Federal Services, U.S. Services, and Outside the U.S. The U.S. Services segment offers program eligibility support and enrollment; centralized multilingual customer contact centers, multichannel, and digital self-service options for enrollment; application assistance and independent health plan choice counseling; beneficiary outreach, education, eligibility, enrollment, and redeterminations; and person-centered independent disability, long-term sick, and other health assessments.