Nuveen LLC Buys New Stake 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 position in Xerox Holdings Co. (NYSE:XRX - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in XRX. Raymond James Financial Inc. purchased a new position in shares of Xerox in the 4th quarter worth $208,000. First Trust Advisors LP grew its stake in shares of Xerox by 47.5% in the 4th quarter. First Trust Advisors LP now owns 990,120 shares of the information technology services provider's stock worth $8,347,000 after buying an additional 318,750 shares in the last quarter. MetLife Investment Management LLC grew its stake in shares of Xerox by 6.1% in the 4th quarter. MetLife Investment Management LLC now owns 69,876 shares of the information technology services provider's stock worth $589,000 after buying an additional 4,019 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Xerox by 8,378.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 55,196 shares of the information technology services provider's stock worth $465,000 after buying an additional 54,545 shares in the last quarter. Finally, TD Waterhouse Canada Inc. purchased a new position in shares of Xerox in the 4th quarter worth $51,000. 85.36% of the stock is owned by hedge funds and other institutional investors.

Xerox Trading Up 2.1%

XRX traded up $0.08 on Friday, reaching $3.98. 2,573,335 shares of the company traded hands, compared to its average volume of 4,074,475. Xerox Holdings Co. has a one year low of $3.44 and a one year high of $11.42. The firm has a fifty day simple moving average of $4.81 and a two-hundred day simple moving average of $5.20. The company has a market cap of $500.80 million, a P/E ratio of -0.37 and a beta of 1.79. The company has a quick ratio of 0.84, a current ratio of 1.11 and a debt-to-equity ratio of 2.61.

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 positive return on equity of 7.57% and a negative net margin of 21.24%.During the same quarter in the previous year, the firm posted $0.29 earnings per share. The company's quarterly revenue was down .1% on a year-over-year basis. Xerox has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Xerox Holdings Co. will post 1.07 earnings per share for the current year.

Xerox Dividend Announcement

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 dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 2.5%. The ex-dividend date is Tuesday, September 30th. Xerox's payout ratio is presently -0.87%.

Insider Buying and Selling

In other news, Director A. Scott Letier bought 29,600 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was purchased at an average cost of $3.95 per share, for a total transaction of $116,920.00. Following the purchase, the director directly owned 58,984 shares in the company, valued at approximately $232,986.80. This trade represents a 100.74% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.30% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Citigroup assumed coverage on shares of Xerox in a research note on Monday, August 18th. They issued a "neutral" rating and a $4.50 price objective for the company. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Xerox presently has an average rating of "Sell" and an average target price of $6.83.

About Xerox

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.