Causeway Capital Management LLC Buys 107,117 Shares of Koninklijke Philips N.V. $PHG

Causeway Capital Management LLC lifted its stake in Koninklijke Philips N.V. (NYSE:PHG) by 5.8% in the third quarter, Holdings Channel.com reports. The firm owned 1,958,112 shares of the technology company’s stock after buying an additional 107,117 shares during the period. Causeway Capital Management LLC’s holdings in Koninklijke Philips were worth $53,378,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PHG. Mondrian Investment Partners LTD purchased a new position in Koninklijke Philips during the third quarter worth $215,529,000. U.S. Capital Wealth Advisors LLC boosted its stake in shares of Koninklijke Philips by 646.3% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 64,084 shares of the technology company’s stock worth $1,747,000 after purchasing an additional 55,497 shares during the period. Fox Run Management L.L.C. bought a new position in Koninklijke Philips during the 3rd quarter valued at about $875,000. Vise Technologies Inc. purchased a new position in shares of Koninklijke Philips during the second quarter valued at approximately $377,000. Finally, ABC Arbitrage SA lifted its stake in shares of Koninklijke Philips by 137.8% during the 2nd quarter. ABC Arbitrage SA now owns 240,461 shares of the technology company’s stock worth $5,766,000 after acquiring an additional 139,353 shares during the last quarter. Hedge funds and other institutional investors own 13.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Zacks Research upgraded Koninklijke Philips from a “strong sell” rating to a “hold” rating in a report on Thursday, February 12th. Royal Bank Of Canada initiated coverage on Koninklijke Philips in a report on Wednesday, December 17th. They issued a “sector perform” rating on the stock. Weiss Ratings raised shares of Koninklijke Philips from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 12th. Wall Street Zen cut Koninklijke Philips from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, Sanford C. Bernstein upgraded shares of Koninklijke Philips to a “hold” rating in a research report on Wednesday, December 17th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Koninklijke Philips Stock Up 1.6%

Shares of PHG opened at $29.39 on Tuesday. Koninklijke Philips N.V. has a one year low of $21.48 and a one year high of $33.44. The stock has a market capitalization of $28.30 billion, a price-to-earnings ratio of 27.72, a PEG ratio of 6.06 and a beta of 0.77. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.94 and a current ratio of 1.32. The stock has a 50 day moving average price of $29.86 and a 200 day moving average price of $28.46.

Koninklijke Philips (NYSE:PHG) last released its earnings results on Tuesday, February 10th. The technology company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.20. Koninklijke Philips had a net margin of 5.09% and a return on equity of 13.68%. The business had revenue of $5.98 billion for the quarter, compared to analyst estimates of $5.03 billion. Equities research analysts forecast that Koninklijke Philips N.V. will post 1.63 earnings per share for the current fiscal year.

Koninklijke Philips Increases Dividend

The company also recently declared an annual dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th will be given a dividend of $1.013 per share. This represents a dividend yield of 318.0%. The ex-dividend date of this dividend is Wednesday, May 13th. This is a positive change from Koninklijke Philips’s previous annual dividend of $0.89. Koninklijke Philips’s dividend payout ratio is presently 77.36%.

Koninklijke Philips Company Profile

Koninklijke Philips N.V. (NYSE: PHG), commonly known as Philips, is a Dutch multinational company focused on health technology. Founded in Eindhoven in 1891, the company evolved from a diversified electronics manufacturer into a specialist in healthcare products, systems and services. Philips is legally registered in the Netherlands and operates globally, supplying equipment and solutions to hospitals, clinics, healthcare providers and consumers across Europe, the Americas and Asia.

Philips’ principal activities center on medical technologies and personal health.