Principal Financial Group Inc. Has $39.99 Million Position in Mirion Technologies, Inc. $MIR

Key Points

• Principal Financial Group boosted its stake in Mirion Technologies by 21.9% in the fourth quarter, bringing its holdings to 1,707,659 shares worth about $39.99 million.
• Mirion saw continued interest from other institutional investors, with several firms increasing positions and 78.51% of the stock now held by institutions and hedge funds.
• The company recently posted better-than-expected quarterly results, beating EPS and revenue estimates, while analysts currently rate the stock a Moderate Buy with an average price target of $27.13.

Principal Financial Group Inc. raised its stake in Mirion Technologies, Inc. (NYSE:MIR - Free Report) by 21.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,707,659 shares of the company's stock after purchasing an additional 306,407 shares during the period. Principal Financial Group Inc. owned 0.67% of Mirion Technologies worth $39,993,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of MIR. Royal Bank of Canada increased its holdings in shares of Mirion Technologies by 258.2% in the first quarter. Royal Bank of Canada now owns 98,828 shares of the company's stock valued at $1,433,000 after purchasing an additional 71,241 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Mirion Technologies by 124.3% in the first quarter. AQR Capital Management LLC now owns 199,211 shares of the company's stock valued at $2,889,000 after purchasing an additional 110,399 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Mirion Technologies by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 122,962 shares of the company's stock valued at $1,783,000 after purchasing an additional 5,366 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Mirion Technologies by 8.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 434,583 shares of the company's stock valued at $6,301,000 after purchasing an additional 34,973 shares during the last quarter. Finally, Cetera Investment Advisers acquired a new position in shares of Mirion Technologies in the second quarter valued at $288,000. 78.51% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Christopher A. Moore sold 8,400 shares of the company's stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $19.64, for a total transaction of $164,976.00. Following the completion of the sale, the chief accounting officer owned 22,157 shares of the company's stock, valued at $435,163.48. This represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 6.30% of the stock is owned by corporate insiders.

Mirion Technologies Trading Down 4.0%

Shares of Mirion Technologies stock opened at $18.97 on Friday. Mirion Technologies, Inc. has a 52-week low of $16.06 and a 52-week high of $30.28. The firm has a 50-day moving average of $19.73 and a 200-day moving average of $23.05. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.63 and a current ratio of 3.19. The stock has a market cap of $4.75 billion, a PE ratio of 189.68 and a beta of 1.07.

Mirion Technologies (NYSE:MIR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. Mirion Technologies had a net margin of 2.56% and a return on equity of 6.44%. The business had revenue of $257.60 million during the quarter, compared to analysts' expectations of $244.78 million. During the same quarter in the prior year, the business posted $0.10 earnings per share. Mirion Technologies's revenue was up 27.5% compared to the same quarter last year. Mirion Technologies has set its FY 2026 guidance at 0.480-0.550 EPS. As a group, sell-side analysts forecast that Mirion Technologies, Inc. will post 0.51 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MIR shares. Melius Research raised shares of Mirion Technologies to a "strong-buy" rating in a research report on Monday, March 23rd. The Goldman Sachs Group reduced their target price on shares of Mirion Technologies from $33.00 to $29.00 and set a "buy" rating for the company in a research report on Thursday, February 12th. Robert W. Baird reduced their target price on shares of Mirion Technologies from $29.00 to $26.00 and set an "outperform" rating for the company in a research report on Monday, March 30th. Morgan Stanley reduced their target price on shares of Mirion Technologies from $29.00 to $27.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 11th. Finally, Citigroup reduced their target price on shares of Mirion Technologies from $29.00 to $28.00 and set a "buy" rating for the company in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $27.13.

Mirion Technologies Company Profile

Mirion Technologies Inc NYSE: MIR is a leading global provider of radiation detection, measurement and monitoring solutions. The company's portfolio includes instrumentation, software and service offerings designed to detect, quantify and manage radiation in nuclear power, oil and gas, defense and homeland security, medical imaging and diagnostic applications. Mirion's product suite spans personal and environmental dosimetry, area monitors, digital imaging detectors and turnkey solutions for decommissioning and environmental remediation projects.

Mirion traces its origins to the combination of several established radiation measurement businesses, including the former Canberra nuclear instrumentation division, and has been supported by private equity investors before completing its initial public offering on the New York Stock Exchange in 2023.

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