Mackenzie Financial Corp Sells 242,927 Shares of ADT Inc. (NYSE:ADT)

Key Points

• Mackenzie Financial Corp reduced its stake in ADT Inc. by 15.1% during the first quarter, owning approximately 1,361,167 shares valued at $11,080,000 after the sale.
• Major shareholder, Apollo Management, sold 71,000,000 shares of ADT stock for approximately $590 million, leading to a 38.66% decline in their position.
• ADT recently announced a quarterly dividend of $0.055 per share, with a dividend yield of 2.6%, scheduled for payment on October 2nd.

Mackenzie Financial Corp reduced its stake in ADT Inc. (NYSE:ADT - Free Report) by 15.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,361,167 shares of the security and automation business's stock after selling 242,927 shares during the period. Mackenzie Financial Corp owned 0.16% of ADT worth $11,080,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Versant Capital Management Inc acquired a new stake in ADT in the 1st quarter valued at approximately $35,000. True Wealth Design LLC acquired a new stake in ADT in the fourth quarter worth approximately $36,000. Headlands Technologies LLC bought a new stake in shares of ADT in the 4th quarter worth $62,000. Federated Hermes Inc. grew its holdings in ADT by 15.8% during the fourth quarter. Federated Hermes Inc. now owns 10,600 shares of the security and automation business's stock worth $73,000 after acquiring an additional 1,449 shares during the period. Finally, Quarry LP acquired a new stake in ADT in the 4th quarter valued at about $80,000. 87.22% of the stock is currently owned by institutional investors and hedge funds.

ADT Price Performance

Shares of NYSE:ADT traded down $0.06 during midday trading on Tuesday, reaching $8.40. 4,227,867 shares of the company's stock were exchanged, compared to its average volume of 15,336,427. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.37 and a current ratio of 0.46. The firm has a market capitalization of $6.98 billion, a PE ratio of 12.72 and a beta of 1.20. ADT Inc. has a 12 month low of $6.68 and a 12 month high of $8.80. The company's 50 day simple moving average is $8.38 and its two-hundred day simple moving average is $8.03.

ADT (NYSE:ADT - Get Free Report) last issued its earnings results on Thursday, July 24th. The security and automation business reported $0.23 EPS for the quarter, beating the consensus estimate of $0.19 by $0.04. ADT had a net margin of 12.30% and a return on equity of 18.58%. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the company earned $0.17 EPS. The firm's revenue for the quarter was up 6.8% compared to the same quarter last year. Equities research analysts expect that ADT Inc. will post 0.7 earnings per share for the current fiscal year.

ADT Announces Dividend

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 given a $0.055 dividend. The ex-dividend date is Thursday, September 11th. This represents a $0.22 annualized dividend and a yield of 2.6%. ADT's payout ratio is presently 33.33%.

Analysts Set New Price Targets

Several research firms have recently weighed in on ADT. Wall Street Zen lowered ADT from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Royal Bank Of Canada reissued a "sector perform" rating and issued a $9.00 price target on shares of ADT in a research note on Monday, April 21st. Finally, Morgan Stanley set a $9.50 target price on shares of ADT and gave the stock an "equal weight" rating in a report on Monday, July 28th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $9.18.

Insider Transactions at ADT

In other news, major shareholder Apollo Management Holdings Gp, sold 71,000,000 shares of the firm's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $8.31, for a total value of $590,010,000.00. Following the completion of the sale, the insider directly owned 112,650,366 shares in the company, valued at approximately $936,124,541.46. This trade represents a 38.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In the last ninety days, insiders sold 166,000,000 shares of company stock valued at $1,363,160,000. Insiders own 2.70% of the company's stock.

About ADT

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.