Lazard Asset Management LLC reduced its position in shares of Atlas Corp. (NYSE:ATCO – Get Rating) by 19.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,010 shares of the company’s stock after selling 4,789 shares during the quarter. Lazard Asset Management LLC’s holdings in Atlas were worth $283,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Asset Management One Co. Ltd. acquired a new position in shares of Atlas in the fourth quarter worth $113,000. Northern Trust Corp boosted its holdings in Atlas by 3.8% during the fourth quarter. Northern Trust Corp now owns 135,199 shares of the company’s stock valued at $1,917,000 after acquiring an additional 4,953 shares during the period. Bridgewater Advisors Inc. boosted its holdings in Atlas by 23.3% during the fourth quarter. Bridgewater Advisors Inc. now owns 79,300 shares of the company’s stock valued at $1,124,000 after acquiring an additional 15,000 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Atlas by 15.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 374,487 shares of the company’s stock valued at $5,310,000 after acquiring an additional 48,733 shares during the period. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in Atlas during the fourth quarter valued at about $231,000. 68.75% of the stock is currently owned by institutional investors and hedge funds.
ATCO has been the subject of a number of research analyst reports. TheStreet lowered shares of Atlas from a “b-” rating to a “c+” rating in a research report on Thursday, April 14th. Bank of America lowered shares of Atlas from a “neutral” rating to an “underperform” rating and set a $14.50 price objective for the company. in a report on Thursday, February 17th. Finally, Zacks Investment Research cut shares of Atlas from a “buy” rating to a “hold” rating in a research note on Monday, February 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Atlas has an average rating of “Hold” and an average price target of $16.38.
Atlas (NYSE:ATCO – Get Rating) last issued its quarterly earnings results on Tuesday, February 15th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.06). Atlas had a net margin of 28.08% and a return on equity of 13.79%. The business had revenue of $428.20 million during the quarter, compared to analyst estimates of $437.17 million. During the same quarter in the previous year, the firm posted $0.29 earnings per share. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. Research analysts expect that Atlas Corp. will post 1.7 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, May 2nd. Shareholders of record on Wednesday, April 20th were paid a $0.125 dividend. The ex-dividend date of this dividend was Tuesday, April 19th. This represents a $0.50 annualized dividend and a yield of 4.00%. Atlas’s payout ratio is currently 32.89%.
About Atlas (Get Rating)
Atlas Corp. operates as an asset manager and operator of containerships. The company, through its subsidiaries, operates as an independent charter owner and manager of containerships. The company charters its containerships under long-term and fixed-rate time charters to various container liner companies.
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