Relx Plc $RELX Shares Sold by Reynders McVeigh Capital Management LLC

Key Points

• Reynders McVeigh Capital Management trimmed its stake in Relx by 22.3%, selling 148,132 shares and leaving 517,540 shares valued at $20.919 million.
• Relx reported an atypical quarterly result of $42.81 EPS (vs. $0.85 consensus) while revenue was $3.19 billion versus a $6.70 billion estimate.
• The company declared a dividend of $0.6559 per share payable June 24 with record/ex-dividend date May 8, and analysts have a consensus rating of “Moderate Buy” (1 Strong Buy, 4 Buy, 2 Hold).

Reynders McVeigh Capital Management LLC trimmed its position in Relx Plc (NYSE:RELX - Free Report) by 22.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 517,540 shares of the technology company's stock after selling 148,132 shares during the quarter. Reynders McVeigh Capital Management LLC's holdings in Relx were worth $20,919,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of RELX. Orion Porfolio Solutions LLC raised its holdings in shares of Relx by 622.0% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 1,350,189 shares of the technology company's stock valued at $73,369,000 after purchasing an additional 1,163,189 shares in the last quarter. Voloridge Investment Management LLC acquired a new stake in shares of Relx in the 3rd quarter valued at $39,737,000. Optiver Holding B.V. acquired a new stake in shares of Relx in the 3rd quarter valued at $20,570,000. Ameriprise Financial Inc. raised its holdings in shares of Relx by 10.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,344,134 shares of the technology company's stock valued at $181,569,000 after purchasing an additional 303,002 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of Relx by 36.4% in the 3rd quarter. Alliancebernstein L.P. now owns 1,111,700 shares of the technology company's stock valued at $53,095,000 after purchasing an additional 296,500 shares in the last quarter. 15.02% of the stock is currently owned by institutional investors and hedge funds.

Relx Stock Up 0.1%

Shares of NYSE:RELX opened at $36.40 on Monday. The company's fifty day moving average price is $34.30 and its 200 day moving average price is $37.92. Relx Plc has a 12 month low of $27.57 and a 12 month high of $56.33. The company has a current ratio of 0.49, a quick ratio of 0.44 and a debt-to-equity ratio of 2.38.

Relx (NYSE:RELX - Get Free Report) last announced its quarterly earnings results on Wednesday, February 11th. The technology company reported $42.81 EPS for the quarter, topping the consensus estimate of $0.85 by $41.96. The company had revenue of $3.19 billion for the quarter, compared to analyst estimates of $6.70 billion. On average, equities research analysts anticipate that Relx Plc will post 1.94 EPS for the current fiscal year.

Relx Dividend Announcement

The business also recently declared a dividend, which will be paid on Wednesday, June 24th. Investors of record on Friday, May 8th will be paid a dividend of $0.6559 per share. This represents a yield of 422.0%. The ex-dividend date is Friday, May 8th.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley restated an "overweight" rating on shares of Relx in a report on Monday, February 2nd. Citigroup upgraded shares of Relx from a "neutral" rating to a "buy" rating in a report on Wednesday, April 8th. Zacks Research lowered shares of Relx from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 4th. Finally, Wall Street Zen lowered shares of Relx from a "buy" rating to a "hold" rating in a research note on Saturday, March 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy".

About Relx

RELX plc is a global provider of information, analytics and decision tools for professional and business customers. The company supplies content, data and analytical services that support decision-making across scientific, technical and medical research, legal and regulatory practice, and risk and business analytics. RELX's offerings are largely delivered via digital platforms and subscription services designed for institutions, corporations and professionals who require specialized, high-value information and workflow solutions.

RELX operates through distinct business lines that include Elsevier, which provides scientific, technical and medical journals, books and online platforms such as research and discovery tools; Legal and Professional services, which deliver legal, regulatory and compliance content and workflow solutions; Risk & Business Analytics, which offers data, analytics and decision tools for insurance, banking, corporate and government risk assessment; and Exhibitions, which organizes industry trade shows and events.

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