Nuveen LLC Makes New Investment in Xerox Holdings Co. $XRX

Key Points

• Nuveen LLC has acquired 986,473 shares of Xerox Holdings Co., totaling approximately $4.76 million and representing about 0.78% of the company's stock.
• Xerox recently reported a quarterly loss of ($0.64) earnings per share, significantly below analysts' expectations, with a negative net margin of 21.24%.
• The company will pay a $0.025 quarterly dividend on October 31st, indicating an annualized yield of 2.6% amidst ongoing financial challenges.

Nuveen LLC acquired a new stake in Xerox Holdings Co. (NYSE:XRX - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 986,473 shares of the information technology services provider's stock, valued at approximately $4,765,000. Nuveen LLC owned approximately 0.78% of Xerox as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in XRX. Federated Hermes Inc. lifted its stake in shares of 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 buying an additional 3,509,574 shares during the last quarter. Point72 Asset Management L.P. grew its stake in Xerox by 2,846.8% in the 4th quarter. Point72 Asset Management L.P. now owns 1,128,973 shares of the information technology services provider's stock valued at $9,517,000 after buying an additional 1,090,661 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Xerox by 348.8% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 953,827 shares of the information technology services provider's stock worth $4,607,000 after acquiring an additional 741,297 shares during the period. BNP Paribas Financial Markets acquired a new position in Xerox during the 4th quarter worth $4,101,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Xerox during the 4th quarter worth $3,067,000. Institutional investors and hedge funds own 85.36% of the company's stock.

Wall Street Analyst Weigh In

Separately, Citigroup initiated coverage on Xerox in a research report on Monday, August 18th. They issued a "neutral" rating and a $4.50 price target on the stock. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Sell" and a consensus target price of $6.83.

Xerox Price Performance

XRX stock traded up $0.08 during trading on Monday, hitting $3.98. 2,573,335 shares of the stock traded hands, compared to its average volume of 4,074,475. The stock has a market cap of $500.80 million, a price-to-earnings ratio of -0.37 and a beta of 1.79. Xerox Holdings Co. has a one year low of $3.44 and a one year high of $11.42. The company has a current ratio of 1.11, a quick ratio of 0.84 and a debt-to-equity ratio of 2.61. The company has a 50 day simple moving average of $4.78 and a 200 day simple moving average of $5.13.

Xerox (NYSE:XRX - Get Free Report) last posted its quarterly earnings data 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 positive return on equity of 7.57% and a negative net margin of 21.24%.The firm's revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the business posted $0.29 EPS. Xerox has set its FY 2025 guidance at EPS. Equities analysts expect that Xerox Holdings Co. will post 1.07 EPS for the current fiscal year.

Xerox Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid a $0.025 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.10 dividend on an annualized basis and a yield of 2.5%. Xerox's payout ratio is currently -0.87%.

Insider Activity at Xerox

In other Xerox news, Director A. Scott Letier bought 29,600 shares of the stock in a transaction dated Friday, August 1st. The stock was bought at an average cost of $3.95 per share, for a total transaction of $116,920.00. Following the completion of the purchase, the director 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.50% of the company's stock.

Xerox 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.