PNC Financial Services Group Inc. Lowers Stock Holdings in Maximus, Inc. (NYSE:MMS)

PNC Financial Services Group Inc. reduced its position in Maximus, Inc. (NYSE:MMS) by 3.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 8,675 shares of the health services provider’s stock after selling 315 shares during the period. PNC Financial Services Group Inc.’s holdings in Maximus were worth $721,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Nuveen Asset Management LLC grew its stake in Maximus by 14.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 459,924 shares of the health services provider’s stock worth $40,459,000 after acquiring an additional 58,058 shares during the period. Vaughan Nelson Investment Management L.P. grew its stake in shares of Maximus by 8.8% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 369,412 shares of the health services provider’s stock valued at $30,735,000 after buying an additional 29,862 shares during the period. Federated Hermes Inc. grew its stake in shares of Maximus by 3.4% during the 2nd quarter. Federated Hermes Inc. now owns 272,306 shares of the health services provider’s stock valued at $23,955,000 after buying an additional 8,932 shares during the period. First Trust Advisors LP grew its stake in shares of Maximus by 8.7% during the 2nd quarter. First Trust Advisors LP now owns 104,260 shares of the health services provider’s stock valued at $9,172,000 after buying an additional 8,374 shares during the period. Finally, Mengis Capital Management Inc. purchased a new stake in shares of Maximus during the 3rd quarter valued at $416,000. 93.68% of the stock is owned by hedge funds and other institutional investors.

Separately, Zacks Investment Research cut shares of Maximus from a “buy” rating to a “hold” rating and set a $85.00 price objective for the company. in a research note on Tuesday, November 23rd.

Shares of NYSE MMS opened at $77.15 on Friday. The firm has a fifty day moving average of $79.40 and a 200-day moving average of $83.38. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.97. Maximus, Inc. has a 52-week low of $74.38 and a 52-week high of $96.05. The stock has a market capitalization of $4.78 billion, a PE ratio of 16.56 and a beta of 0.78.

Maximus (NYSE:MMS) last announced its quarterly earnings results on Thursday, November 18th. The health services provider reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.21. Maximus had a net margin of 6.84% and a return on equity of 22.53%. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the prior year, the company earned $1.02 EPS. The firm’s revenue was up 19.7% on a year-over-year basis. Equities research analysts expect that Maximus, Inc. will post 4.16 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 28th. Investors of record on Tuesday, February 15th will be given a dividend of $0.28 per share. The ex-dividend date is Monday, February 14th. This represents a $1.12 dividend on an annualized basis and a yield of 1.45%. Maximus’s dividend payout ratio (DPR) is 24.03%.

In other Maximus news, Vice Chairman Richard A. Montoni sold 12,949 shares of the business’s stock in a transaction on Tuesday, December 28th. The shares were sold at an average price of $80.05, for a total value of $1,036,567.45. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel David Francis sold 6,188 shares of the business’s stock in a transaction on Friday, November 19th. The stock was sold at an average price of $81.53, for a total transaction of $504,507.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,767 shares of company stock valued at $3,375,131. 1.90% of the stock is owned by corporate insiders.

Maximus Company Profile

MAXIMUS, Inc engages in the operation of government and human services programs. It operates through the following segments: U.S. Services; U.S. Federal Services; and Outside the U.S. The U.S. Services segment offers a variety of business process services, and appeals and assessments for state, provincial and national government programs.

Further Reading: How Does the Quiet Period Work?

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Institutional Ownership by Quarter for Maximus (NYSE:MMS)

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