Wedge Capital Management L L P NC Acquires 76,233 Shares of ADT Inc. (NYSE:ADT)

Wedge Capital Management L L P NC lifted its stake in shares of ADT Inc. (NYSE:ADT - Free Report) by 25.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 378,900 shares of the security and automation business's stock after acquiring an additional 76,233 shares during the quarter. Wedge Capital Management L L P NC's holdings in ADT were worth $3,084,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc acquired a new stake in shares of ADT during the 1st quarter valued at $35,000. True Wealth Design LLC acquired a new stake in ADT during the 4th quarter worth about $36,000. Headlands Technologies LLC acquired a new position in shares of ADT in the fourth quarter worth about $62,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of ADT in the fourth quarter worth approximately $73,000. Finally, Magnetar Financial LLC acquired a new position in ADT in the 4th quarter worth approximately $73,000. 87.22% of the stock is currently owned by institutional investors and hedge funds.

ADT Stock Down 1.5%

ADT traded down $0.13 during midday trading on Wednesday, hitting $8.22. 23,204,701 shares of the company's stock traded hands, compared to its average volume of 10,126,396. The company has a debt-to-equity ratio of 1.93, a current ratio of 0.81 and a quick ratio of 0.64. The company has a market cap of $6.87 billion, a PE ratio of 8.93 and a beta of 1.23. The stock's fifty day simple moving average is $8.14 and its 200-day simple moving average is $7.70. ADT Inc. has a one year low of $6.53 and a one year high of $8.72.

ADT (NYSE:ADT - Get Free Report) last posted its earnings results on Thursday, April 24th. The security and automation business reported $0.21 EPS for the quarter, topping the consensus estimate of $0.20 by $0.01. ADT had a net margin of 18.18% and a return on equity of 17.77%. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the prior year, the business posted $0.16 earnings per share. The business's quarterly revenue was up 6.5% on a year-over-year basis. As a group, equities analysts anticipate that ADT Inc. will post 0.7 earnings per share for the current fiscal year.

ADT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Thursday, June 12th will be given a dividend of $0.055 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $0.22 dividend on an annualized basis and a yield of 2.68%. ADT's payout ratio is currently 37.93%.

Insider Activity

In other news, major shareholder Apollo Management Holdings Gp, sold 45,000,000 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $8.27, for a total value of $372,150,000.00. Following the completion of the sale, the insider now directly owns 183,650,366 shares of the company's stock, valued at approximately $1,518,788,526.82. This represents a 19.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.70% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ADT. Royal Bank of Canada reissued a "sector perform" rating and set a $9.00 price target on shares of ADT in a research report on Monday, April 21st. Barclays upgraded shares of ADT from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $7.00 to $9.00 in a research report on Friday, April 4th.

ADT Profile

ADT Inc provides security, interactive, and smart home solutions to residential and small business customers in the United States. It operates through two segments, Consumer and Small Business, and Solar. The company provides burglar and life safety alarms, smart security cameras, smart home automation systems, and video surveillance systems.