Connor Clark & Lunn Investment Management Ltd. Takes $1.01 Million Position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 125,552 shares of the communications equipment provider’s stock, valued at approximately $1,012,000.

A number of other institutional investors also recently modified their holdings of the company. FMR LLC lifted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 23.8% in the third quarter. FMR LLC now owns 2,412,480 shares of the communications equipment provider’s stock valued at $18,287,000 after purchasing an additional 463,415 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 17,266.7% in the third quarter. Two Sigma Advisers LP now owns 2,031,900 shares of the communications equipment provider’s stock valued at $15,402,000 after purchasing an additional 2,020,200 shares in the last quarter. Verition Fund Management LLC lifted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 6.9% in the third quarter. Verition Fund Management LLC now owns 1,142,228 shares of the communications equipment provider’s stock valued at $8,658,000 after purchasing an additional 73,320 shares in the last quarter. US Bancorp DE raised its holdings in Telefonaktiebolaget LM Ericsson (publ) by 434.2% during the fourth quarter. US Bancorp DE now owns 968,459 shares of the communications equipment provider’s stock worth $7,806,000 after acquiring an additional 787,154 shares in the last quarter. Finally, Drum Hill Capital LLC bought a new stake in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth about $5,773,000. 7.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Telefonaktiebolaget LM Ericsson (publ) from a “strong-buy” rating to a “buy” rating in a report on Friday, January 24th.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

ERIC opened at $8.25 on Friday. Telefonaktiebolaget LM Ericsson has a 52-week low of $4.77 and a 52-week high of $8.90. The firm has a market capitalization of $27.49 billion, a PE ratio of -825,000.00, a PEG ratio of 3.89 and a beta of 0.81. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.96 and a current ratio of 1.17. The business’s 50-day simple moving average is $8.08 and its 200 day simple moving average is $8.02.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last released its earnings results on Friday, January 24th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a return on equity of 13.70% and a net margin of 0.06%. As a group, sell-side analysts expect that Telefonaktiebolaget LM Ericsson will post 0.48 earnings per share for the current fiscal year.

Telefonaktiebolaget LM Ericsson (publ) Increases Dividend

The firm also recently declared a dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 27th were given a dividend of $0.1315 per share. The ex-dividend date was Thursday, March 27th. This is an increase from Telefonaktiebolaget LM Ericsson (publ)’s previous dividend of $0.13. Telefonaktiebolaget LM Ericsson (publ)’s payout ratio is -1,700,000.00%.

Telefonaktiebolaget LM Ericsson (publ) Profile

Telefonaktiebolaget LM Ericsson (publ), together with its subsidiaries, provides mobile connectivity solutions for telcom operators and enterprise customers in various sectors in North America, Europe, Latin America, the Middle East, Africa, North East Asia, South East Asia, Oceania, and India. It operates in four segments: Networks; Cloud Software and Services; Enterprise; and Other.