Wedge Capital Management L L P NC Boosts Position in ADT Inc. $ADT

Wedge Capital Management L L P NC lifted its position in shares of ADT Inc. (NYSE:ADT) by 13.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 430,104 shares of the security and automation business’s stock after acquiring an additional 51,204 shares during the period. Wedge Capital Management L L P NC’s holdings in ADT were worth $3,643,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Wright Investors Service Inc. increased its position in ADT by 25.8% during the second quarter. Wright Investors Service Inc. now owns 89,291 shares of the security and automation business’s stock valued at $756,000 after acquiring an additional 18,290 shares during the last quarter. Diversified Trust Co purchased a new position in ADT during the 2nd quarter valued at approximately $986,000. NorthCrest Asset Manangement LLC grew its holdings in ADT by 45.6% during the 2nd quarter. NorthCrest Asset Manangement LLC now owns 19,849 shares of the security and automation business’s stock valued at $168,000 after buying an additional 6,212 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of ADT by 36.6% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 290,594 shares of the security and automation business’s stock worth $2,461,000 after purchasing an additional 77,866 shares during the period. Finally, Sivia Capital Partners LLC purchased a new position in shares of ADT in the 2nd quarter worth approximately $93,000. 87.22% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Zacks Research raised ADT to a “strong-buy” rating in a research note on Tuesday, August 12th. Wall Street Zen upgraded ADT from a “buy” rating to a “strong-buy” rating in a report on Saturday. Morgan Stanley boosted their target price on ADT from $9.00 to $9.50 and gave the stock an “equal weight” rating in a research note on Monday, July 28th. Finally, Citigroup boosted their target price on ADT from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $9.34.

ADT Price Performance

ADT stock opened at $8.58 on Monday. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.46 and a quick ratio of 0.37. The business has a 50 day simple moving average of $8.58 and a 200-day simple moving average of $8.29. The firm has a market capitalization of $7.13 billion, a PE ratio of 13.00 and a beta of 1.13. ADT Inc. has a 1 year low of $6.68 and a 1 year high of $8.94.

ADT (NYSE:ADT) last posted its quarterly earnings results on Thursday, July 24th. The security and automation business reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.04. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. ADT had a return on equity of 18.58% and a net margin of 12.30%.The business’s revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.17 earnings per share. ADT has set its FY 2025 guidance at 0.810-0.890 EPS. Equities research analysts anticipate that ADT Inc. will post 0.7 earnings per share for the current fiscal year.

ADT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th will be paid a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Thursday, September 11th. ADT’s dividend payout ratio is 33.33%.

Insider Buying and Selling

In other ADT news, major shareholder Apollo Management Holdings Gp, sold 71,000,000 shares of the company’s stock in a transaction on Monday, July 28th. The stock was sold at an average price of $8.31, for a total transaction of $590,010,000.00. Following the transaction, the insider directly owned 112,650,366 shares in the company, valued at $936,124,541.46. This represents a 38.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is owned by company insiders.

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.