Robeco Institutional Asset Management B.V. Sells 37,668 Shares of PLDT Inc. $PHI

Robeco Institutional Asset Management B.V. cut its position in shares of PLDT Inc. (NYSE:PHI) by 49.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,885 shares of the technology company’s stock after selling 37,668 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in PLDT were worth $674,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Engineers Gate Manager LP lifted its stake in PLDT by 40.3% during the 2nd quarter. Engineers Gate Manager LP now owns 22,887 shares of the technology company’s stock valued at $401,000 after acquiring an additional 6,572 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of PLDT by 74.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 7,390 shares of the technology company’s stock valued at $155,000 after acquiring an additional 3,155 shares during the last quarter. Quantinno Capital Management LP grew its stake in shares of PLDT by 47.0% in the first quarter. Quantinno Capital Management LP now owns 121,103 shares of the technology company’s stock worth $2,548,000 after acquiring an additional 38,731 shares during the period. Renaissance Technologies LLC grew its stake in shares of PLDT by 1.3% in the first quarter. Renaissance Technologies LLC now owns 2,327,067 shares of the technology company’s stock worth $48,961,000 after acquiring an additional 29,024 shares during the period. Finally, First Trust Advisors LP raised its holdings in shares of PLDT by 40.8% during the first quarter. First Trust Advisors LP now owns 17,926 shares of the technology company’s stock valued at $377,000 after purchasing an additional 5,197 shares during the last quarter. 2.26% of the stock is owned by hedge funds and other institutional investors.

PLDT Trading Down 2.3%

Shares of NYSE:PHI opened at $18.48 on Tuesday. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 8.33, a PEG ratio of 2.87 and a beta of 0.64. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.43 and a current ratio of 0.44. The stock’s 50-day simple moving average is $18.45 and its two-hundred day simple moving average is $20.07. PLDT Inc. has a 52-week low of $16.71 and a 52-week high of $24.51.

PLDT Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Friday, September 25th. Stockholders of record on Thursday, August 27th were paid a $0.7515 dividend. This is a drop from PLDT’s previous dividend of $0.7977. The ex-dividend date was Thursday, August 27th. This represents a dividend yield of 841.0%. PLDT’s dividend payout ratio (DPR) is currently 49.10%.

Wall Street Analyst Weigh In

PHI has been the topic of a number of research analyst reports. JPMorgan Chase & Co. downgraded shares of PLDT from an “overweight” rating to a “neutral” rating in a research report on Monday, August 17th. Zacks Research upgraded shares of PLDT from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. TD Cowen reaffirmed a “hold” rating on shares of PLDT in a research report on Thursday, August 13th. Finally, Weiss Ratings lowered shares of PLDT from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, August 31st. Four research analysts have rated the stock with a Hold rating. According to MarketBeat, PLDT currently has an average rating of “Hold”.

PLDT Profile

PLDT Inc is a Philippine telecommunications and digital services company serving consumers, businesses and government institutions primarily throughout the Philippines. Its operations include fixed-line telephone services, mobile communications, broadband connectivity, wireless data and digital solutions.

Through its wireless subsidiary Smart Communications, PLDT provides mobile voice, messaging, data and broadband services. The company also offers fiber and other fixed broadband services through PLDT Home, while its enterprise business provides connectivity, information and communications technology services, cloud solutions, cybersecurity, data center services and other digital infrastructure offerings.

PLDT traces its origins to 1928, when the Philippine Long Distance Telephone Company was established.