Mork Capital Management LLC Takes $724,000 Position in Xerox Holdings Co. $XRX

Key Points

• Mork Capital Management LLC invested approximately $724,000 in Xerox Holdings Co., acquiring 150,000 shares during the first quarter.
• Xerox reported a loss of $0.64 earnings per share for the last quarter, missing the consensus estimate by $0.71.
• The company declared a $0.025 quarterly dividend, with a yield of 2.6%, payable on October 31st.

Mork Capital Management LLC purchased a new position in Xerox Holdings Co. (NYSE:XRX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 150,000 shares of the information technology services provider's stock, valued at approximately $724,000. Mork Capital Management LLC owned approximately 0.12% of Xerox as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Federated Hermes Inc. boosted its holdings in Xerox by 2,035.4% in the first quarter. Federated Hermes Inc. now owns 3,682,002 shares of the information technology services provider's stock worth $17,784,000 after acquiring an additional 3,509,574 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Xerox by 14.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,066,576 shares of the information technology services provider's stock worth $9,982,000 after purchasing an additional 254,474 shares during the period. Invesco Ltd. lifted its holdings in shares of Xerox by 7.7% during the first quarter. Invesco Ltd. now owns 1,836,657 shares of the information technology services provider's stock worth $8,871,000 after purchasing an additional 130,571 shares during the period. Northern Trust Corp lifted its holdings in shares of Xerox by 7.7% during the fourth quarter. Northern Trust Corp now owns 1,405,471 shares of the information technology services provider's stock worth $11,848,000 after purchasing an additional 100,900 shares during the period. Finally, Paradigm Capital Management Inc. NY lifted its holdings in shares of Xerox by 2,392.4% during the first quarter. Paradigm Capital Management Inc. NY now owns 1,246,200 shares of the information technology services provider's stock worth $6,019,000 after purchasing an additional 1,196,200 shares during the period. Institutional investors and hedge funds own 85.36% of the company's stock.

Xerox Stock Performance

XRX stock traded down $0.09 during trading on Monday, hitting $3.83. 5,018,863 shares of the company traded hands, compared to its average volume of 4,066,250. The stock's 50-day simple moving average is $4.63 and its 200 day simple moving average is $4.99. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.11 and a quick ratio of 0.84. The company has a market cap of $481.93 million, a PE ratio of -0.36 and a beta of 1.77. Xerox Holdings Co. has a 1 year low of $3.44 and a 1 year high of $11.29.

Xerox (NYSE:XRX - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The information technology services provider reported ($0.64) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.71). Xerox had a negative net margin of 21.24% and a positive return on equity of 7.57%. The firm's revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.29 EPS. Xerox has set its FY 2025 guidance at EPS. On average, equities analysts expect that Xerox Holdings Co. will post 1.07 earnings per share for the current fiscal year.

Xerox Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Tuesday, September 30th. Xerox's dividend payout ratio is presently -0.87%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Citigroup assumed coverage on Xerox in a report on Monday, August 18th. They set a "neutral" rating and a $4.50 target price for the company. Zacks Research raised Xerox from a "strong sell" rating to a "hold" rating in a report on Wednesday, September 3rd. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Reduce" and an average target price of $6.83.

Insider Buying and Selling at Xerox

In other Xerox news, Director A. Scott Letier bought 29,600 shares of Xerox stock in a transaction dated Friday, August 1st. The stock was acquired at an average cost of $3.95 per share, with a total value of $116,920.00. Following the purchase, the director directly owned 58,984 shares in the company, valued at $232,986.80. This represents a 100.74% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 1.50% of the stock is currently owned by insiders.

Xerox Company Profile

Xerox Holdings Corporation, together with its subsidiaries, operates as a workplace technology company that integrates hardware, services, and software for enterprises in the Americas, Europe, the Middle East, Africa, India, and internationally. The company operates through two segments, Print and Other; and FITTLE.