Robeco Institutional Asset Management B.V. Sells 651,187 Shares of KT Corporation $KT

Key Points

• Robeco Institutional Asset Management reduced its KT Corporation stake by 11.2%, selling 651,187 shares and retaining 5.15 million shares valued at approximately $97.7 million.
• KT shares were trading at $18.04, down 3.9%, with a market capitalization of $8.7 billion and a 52-week range of $17.13 to $24.58.
• Analyst sentiment remains cautious: KT has a consensus “Hold” rating from three analysts, with an average price target of $23.08, despite recent rating upgrades from Weiss Ratings and Zacks Research.

Robeco Institutional Asset Management B.V. trimmed its holdings in KT Corporation (NYSE:KT - Free Report) by 11.2% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 5,154,671 shares of the technology company's stock after selling 651,187 shares during the quarter. Robeco Institutional Asset Management B.V. owned 1.07% of KT worth $97,681,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in KT. Niatross Investments Ltd raised its position in KT by 18.8% in the 2nd quarter. Niatross Investments Ltd now owns 11,006,064 shares of the technology company's stock worth $190,185,000 after purchasing an additional 1,744,003 shares during the period. Wellington Management Group LLP grew its stake in shares of KT by 17.6% during the second quarter. Wellington Management Group LLP now owns 26,973,001 shares of the technology company's stock valued at $466,093,000 after buying an additional 4,028,281 shares during the last quarter. NINE MASTS CAPITAL Ltd bought a new position in shares of KT during the second quarter valued at about $3,950,000. Bessemer Group Inc. increased its holdings in shares of KT by 166.9% in the first quarter. Bessemer Group Inc. now owns 50,093 shares of the technology company's stock worth $1,074,000 after buying an additional 31,327 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of KT by 60.8% in the second quarter. GAMMA Investing LLC now owns 20,448 shares of the technology company's stock worth $353,000 after buying an additional 7,729 shares during the period. Hedge funds and other institutional investors own 18.86% of the company's stock.

KT Trading Down 3.9%

NYSE:KT opened at $18.04 on Thursday. The company has a fifty day moving average of $19.17 and a 200 day moving average of $19.21. KT Corporation has a 52 week low of $17.13 and a 52 week high of $24.58. The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $8.70 billion, a P/E ratio of 9.70, a P/E/G ratio of 4.58 and a beta of 0.56.

KT (NYSE:KT - Get Free Report) last announced its quarterly earnings results on Wednesday, September 2nd. The technology company reported $0.61 earnings per share (EPS) for the quarter. KT had a net margin of 4.72% and a return on equity of 6.45%. The business had revenue of $4.45 billion for the quarter. On average, research analysts predict that KT Corporation will post 2.06 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on KT. Weiss Ratings raised KT from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, October 16th. Zacks Research upgraded KT from a "strong sell" rating to a "hold" rating in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $23.08.

KT Company Profile

KT Corporation is a South Korean telecommunications and technology company headquartered in Seoul. Formerly known as Korea Telecom, the company traces its origins to 1981 and was fully privatized in 2002. Its American depositary shares trade on the New York Stock Exchange under the symbol KT.

KT provides fixed-line and wireless telecommunications services, including mobile voice and data, broadband internet, and internet protocol television. The company also offers digital services such as cloud computing, data center operations, information and communications technology solutions, and enterprise networking for businesses and public-sector organizations.

KT primarily serves customers in South Korea while supporting international business clients through its global telecommunications and technology networks.

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