Public Sector Pension Investment Board Increases Stake in Telephone and Data Systems, Inc. (NYSE:TDS)

Key Points

• The Public Sector Pension Investment Board increased its stake in Telephone and Data Systems, Inc. to approximately $11.98 million, marking a 27.3% growth in the first quarter.
• Several hedge funds have also altered their positions in TDS, with Third Point LLC boosting its holding by 108.7% during the fourth quarter, now owning about 6 million shares valued at over $204 million.
• Telephone and Data Systems reported a quarterly earnings loss of ($0.05) per share, missing expectations, while also announcing a quarterly dividend of $0.04 per share set to be paid on September 30th.

Public Sector Pension Investment Board boosted its stake in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 27.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 309,312 shares of the Wireless communications provider's stock after acquiring an additional 66,379 shares during the period. Public Sector Pension Investment Board owned 0.27% of Telephone and Data Systems worth $11,983,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in TDS. Third Point LLC boosted its holdings in Telephone and Data Systems by 108.7% in the fourth quarter. Third Point LLC now owns 6,000,000 shares of the Wireless communications provider's stock valued at $204,660,000 after acquiring an additional 3,125,000 shares in the last quarter. Carronade Capital Management LP bought a new stake in shares of Telephone and Data Systems during the 4th quarter valued at $62,845,000. Nuveen LLC bought a new stake in shares of Telephone and Data Systems during the 1st quarter valued at $43,429,000. Silver Point Capital L.P. boosted its holdings in shares of Telephone and Data Systems by 47.2% during the 4th quarter. Silver Point Capital L.P. now owns 1,840,000 shares of the Wireless communications provider's stock valued at $62,762,000 after buying an additional 590,000 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Telephone and Data Systems by 189.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 730,730 shares of the Wireless communications provider's stock valued at $24,925,000 after buying an additional 477,945 shares in the last quarter. Institutional investors own 80.00% of the company's stock.

Telephone and Data Systems Stock Performance

Shares of NYSE TDS traded up $0.02 during midday trading on Thursday, hitting $38.83. 1,247,169 shares of the company's stock traded hands, compared to its average volume of 1,627,209. Telephone and Data Systems, Inc. has a 1 year low of $20.04 and a 1 year high of $42.74. The stock has a market capitalization of $4.43 billion, a price-to-earnings ratio of -40.03 and a beta of 0.54. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.55 and a current ratio of 1.78. The firm has a fifty day moving average of $36.85 and a 200 day moving average of $36.24.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The Wireless communications provider reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.04). Telephone and Data Systems had a negative net margin of 0.85% and a positive return on equity of 0.92%. The business had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.17 billion. During the same period in the previous year, the company earned ($0.13) EPS. Telephone and Data Systems's revenue for the quarter was down 5.7% compared to the same quarter last year. On average, analysts forecast that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current year.

Telephone and Data Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 15th. Telephone and Data Systems's dividend payout ratio is currently -16.49%.

Insider Activity at Telephone and Data Systems

In related news, Director Prudence E. Carlson sold 6,320 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $38.05, for a total value of $240,476.00. Following the completion of the sale, the director directly owned 315,457 shares of the company's stock, valued at approximately $12,003,138.85. This represents a 1.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Anita J. Kroll sold 800 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $39.16, for a total transaction of $31,328.00. Following the completion of the sale, the chief accounting officer directly owned 19,492 shares of the company's stock, valued at $763,306.72. This represents a 3.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,167 shares of company stock valued at $1,405,218 over the last three months. 14.97% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently commented on TDS shares. Raymond James Financial boosted their target price on shares of Telephone and Data Systems from $49.00 to $50.00 and gave the company an "outperform" rating in a report on Tuesday. JPMorgan Chase & Co. upped their price target on shares of Telephone and Data Systems from $53.00 to $54.00 and gave the stock an "overweight" rating in a research note on Tuesday. Finally, Wall Street Zen lowered Telephone and Data Systems from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th.

About Telephone and Data Systems

Telephone and Data Systems, Inc, a telecommunications company, provides communications services in the United States. It operates through two segments: UScellular and TDS Telecom. The company offers wireless solutions to consumers, and business and government customers, including a suite of connected Internet of things (IoT) solutions, and software applications for monitor and control, business automation/operations, communication, fleet and asset management, smart water solutions, private cellular networks and custom, and end-to-end IoT solutions; wireless priority services and quality priority and preemption options; smartphones and other handsets, tablets, wearables, mobile hotspots, fixed wireless home internet, and IoT devices; and accessories, such as cases, screen protectors, chargers, and memory cards, as well as consumer electronics, including audio, home automation and networking products.