Public Employees Retirement System of Ohio Takes $15.81 Million Position in Ericsson $ERIC

Public Employees Retirement System of Ohio acquired a new position in Ericsson (NASDAQ:ERIC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,418,076 shares of the communications equipment provider’s stock, valued at approximately $15,812,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. RNC Capital Management LLC boosted its holdings in Ericsson by 2.5% in the 4th quarter. RNC Capital Management LLC now owns 64,667 shares of the communications equipment provider’s stock valued at $624,000 after purchasing an additional 1,576 shares during the period. Geode Capital Management LLC raised its position in shares of Ericsson by 0.7% during the second quarter. Geode Capital Management LLC now owns 250,389 shares of the communications equipment provider’s stock valued at $2,123,000 after buying an additional 1,658 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its position in shares of Ericsson by 7.2% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 42,902 shares of the communications equipment provider’s stock valued at $414,000 after buying an additional 2,869 shares during the last quarter. Brown Brothers Harriman & Co. bought a new stake in shares of Ericsson in the third quarter valued at about $28,000. Finally, LSV Asset Management lifted its stake in shares of Ericsson by 14.3% in the fourth quarter. LSV Asset Management now owns 39,200 shares of the communications equipment provider’s stock valued at $378,000 after buying an additional 4,900 shares during the period. Institutional investors own 7.99% of the company’s stock.

Analyst Ratings Changes

ERIC has been the topic of several research reports. Weiss Ratings restated a “buy (b)” rating on shares of Ericsson in a research note on Tuesday, June 2nd. Citigroup reissued a “neutral” rating on shares of Ericsson in a report on Wednesday, July 15th. Finally, Danske upgraded Ericsson from a “hold” rating to a “buy” rating in a research report on Wednesday, July 15th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $11.00.

Ericsson Stock Performance

ERIC stock opened at $9.95 on Monday. Ericsson has a 1-year low of $7.70 and a 1-year high of $13.77. The company has a current ratio of 1.12, a quick ratio of 0.89 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average is $10.35 and its 200-day moving average is $11.32. The firm has a market cap of $33.54 billion, a P/E ratio of 12.76, a P/E/G ratio of 1.84 and a beta of 0.95.

Ericsson (NASDAQ:ERIC) last announced its quarterly earnings results on Tuesday, June 30th. The communications equipment provider reported $0.13 EPS for the quarter. Ericsson had a return on equity of 20.63% and a net margin of 10.72%.The business had revenue of $5.43 billion for the quarter. Equities analysts anticipate that Ericsson will post 0.61 earnings per share for the current fiscal year.

About Ericsson

Ericsson AB is a Swedish multinational telecommunications equipment and services company headquartered in Stockholm. Founded in 1876 by Lars Magnus Ericsson, the company designs, develops and sells infrastructure, software and services that enable mobile and fixed-line networks worldwide. Ericsson serves a global customer base that includes mobile network operators, enterprise customers and public-sector organizations across Europe, the Americas, Asia-Pacific, the Middle East and Africa.

The company’s core activities center on building and modernizing network infrastructure, with a particular focus on radio access networks (RAN), core network software, cloud-native solutions and network management systems.