Charles Schwab Investment Management Inc. Boosts Holdings in Xerox Holdings Co. $XRX

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in Xerox by 14.0%, now owning approximately 1.64% of the company, valued at about $9.98 million.
• Xerox's stock has faced challenges, reporting a loss of ($0.64) EPS for the last quarter, missing the consensus estimate of $0.07 EPS.
• The company recently declared a quarterly dividend of $0.025 per share, contributing to an annualized dividend yield of 2.6%.

Charles Schwab Investment Management Inc. lifted its position in Xerox Holdings Co. (NYSE:XRX - Free Report) by 14.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,066,576 shares of the information technology services provider's stock after purchasing an additional 254,474 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.64% of Xerox worth $9,982,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in XRX. PNC Financial Services Group Inc. boosted its position in Xerox by 110.8% during the first quarter. PNC Financial Services Group Inc. now owns 5,539 shares of the information technology services provider's stock valued at $27,000 after buying an additional 2,911 shares during the period. Allworth Financial LP raised its stake in Xerox by 137.7% during the first quarter. Allworth Financial LP now owns 6,014 shares of the information technology services provider's stock valued at $29,000 after buying an additional 3,484 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of Xerox by 331.8% during the first quarter. Larson Financial Group LLC now owns 6,507 shares of the information technology services provider's stock valued at $31,000 after buying an additional 5,000 shares during the last quarter. GAMMA Investing LLC increased its holdings in Xerox by 569.7% in the 1st quarter. GAMMA Investing LLC now owns 7,045 shares of the information technology services provider's stock worth $34,000 after buying an additional 5,993 shares in the last quarter. Finally, TD Waterhouse Canada Inc. bought a new position in shares of Xerox during the 4th quarter valued at $51,000. Institutional investors own 85.36% of the company's stock.

Insider Buying and Selling

In other Xerox news, Director A. Scott Letier acquired 29,600 shares of Xerox stock in a transaction that occurred on Friday, August 1st. The stock was bought at an average price of $3.95 per share, with a total value of $116,920.00. Following the completion of the purchase, the director directly owned 58,984 shares of the company's stock, valued at approximately $232,986.80. This represents a 100.74% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.30% of the stock is owned by company insiders.

Xerox Trading Up 0.5%

Shares of NYSE:XRX traded up $0.02 on Thursday, hitting $3.90. 3,047,334 shares of the company's stock were exchanged, compared to its average volume of 4,083,616. The stock has a market capitalization of $490.73 million, a price-to-earnings ratio of -0.36 and a beta of 1.79. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.11 and a quick ratio of 0.84. Xerox Holdings Co. has a 12 month low of $3.44 and a 12 month high of $11.42. The business's 50 day simple moving average is $4.87 and its two-hundred day simple moving average is $5.25.

Xerox (NYSE:XRX - Get Free Report) last issued its earnings results on Thursday, July 31st. The information technology services provider reported ($0.64) EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.71). Xerox had a positive return on equity of 7.57% and a negative net margin of 21.24%.The business's quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.29 earnings per share. Xerox has set its FY 2025 guidance at EPS. Analysts anticipate that Xerox Holdings Co. will post 1.07 EPS for the current fiscal year.

Xerox Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.025 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.10 dividend on an annualized basis and a yield of 2.6%. Xerox's dividend payout ratio (DPR) is -0.87%.

Wall Street Analysts Forecast Growth

Separately, Citigroup initiated coverage on Xerox in a research note on Monday, August 18th. They issued a "neutral" rating and a $4.50 price objective on the stock. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Sell" and a consensus price target of $6.83.

Xerox Profile

Xerox Holdings Corporation, together with its subsidiaries, operates as a workplace technology company that integrates hardware, services, and software for enterprises in the Americas, Europe, the Middle East, Africa, India, and internationally. The company operates through two segments, Print and Other; and FITTLE.