Truist Financial Corp Trims Holdings in ADT Inc. (NYSE:ADT)

Truist Financial Corp decreased its holdings in ADT Inc. (NYSE:ADT) by 24.5% during the second quarter, HoldingsChannel.com reports. The firm owned 184,720 shares of the security and automation business’s stock after selling 60,070 shares during the quarter. Truist Financial Corp’s holdings in ADT were worth $1,404,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADT. Pacer Advisors Inc. purchased a new stake in ADT in the second quarter worth $195,461,000. Ariel Investments LLC increased its stake in shares of ADT by 31.8% during the first quarter. Ariel Investments LLC now owns 29,579,797 shares of the security and automation business’s stock valued at $198,776,000 after buying an additional 7,131,950 shares during the period. LSV Asset Management increased its stake in shares of ADT by 186.0% during the second quarter. LSV Asset Management now owns 9,646,113 shares of the security and automation business’s stock valued at $73,310,000 after buying an additional 6,272,974 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of ADT by 61.5% during the second quarter. Dimensional Fund Advisors LP now owns 12,359,752 shares of the security and automation business’s stock valued at $93,937,000 after buying an additional 4,705,544 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of ADT by 10.7% during the first quarter. Vanguard Group Inc. now owns 35,406,307 shares of the security and automation business’s stock valued at $237,930,000 after buying an additional 3,427,575 shares during the period. Hedge funds and other institutional investors own 87.22% of the company’s stock.

ADT Price Performance

ADT opened at $6.88 on Friday. The business’s 50-day moving average is $7.19 and its two-hundred day moving average is $7.12. ADT Inc. has a 1 year low of $5.53 and a 1 year high of $7.92. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.75 and a quick ratio of 0.59. The firm has a market capitalization of $6.35 billion, a PE ratio of 9.83 and a beta of 1.53.

ADT (NYSE:ADT) last posted its earnings results on Thursday, August 1st. The security and automation business reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. ADT had a return on equity of 15.45% and a net margin of 13.83%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the previous year, the firm earned $0.15 earnings per share. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. Research analysts anticipate that ADT Inc. will post 0.62 earnings per share for the current fiscal year.

ADT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 13th were paid a $0.055 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.22 annualized dividend and a yield of 3.20%. ADT’s dividend payout ratio (DPR) is presently 31.43%.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada cut their price target on ADT from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Friday, August 2nd.

About ADT

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.