Texas Permanent School Fund Corp Trims Position in OUTFRONT Media Inc. (NYSE:OUT)

Texas Permanent School Fund Corp reduced its holdings in OUTFRONT Media Inc. (NYSE:OUT) by 14.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 108,711 shares of the financial services provider’s stock after selling 18,104 shares during the quarter. Texas Permanent School Fund Corp’s holdings in OUTFRONT Media were worth $1,555,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. DAVENPORT & Co LLC increased its stake in shares of OUTFRONT Media by 145.8% during the 1st quarter. DAVENPORT & Co LLC now owns 1,720,884 shares of the financial services provider’s stock valued at $28,825,000 after acquiring an additional 1,020,719 shares during the last quarter. Norges Bank purchased a new stake in OUTFRONT Media in the fourth quarter valued at approximately $13,779,000. Cove Street Capital LLC increased its position in OUTFRONT Media by 250.2% during the fourth quarter. Cove Street Capital LLC now owns 841,279 shares of the financial services provider’s stock worth $11,744,000 after purchasing an additional 601,079 shares during the last quarter. Lasalle Investment Management Securities LLC raised its stake in OUTFRONT Media by 17.3% during the first quarter. Lasalle Investment Management Securities LLC now owns 2,842,935 shares of the financial services provider’s stock worth $47,733,000 after purchasing an additional 419,706 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of OUTFRONT Media by 23.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,927,340 shares of the financial services provider’s stock valued at $32,360,000 after purchasing an additional 371,978 shares during the last quarter.

OUTFRONT Media Stock Performance

OUTFRONT Media stock opened at $17.65 on Thursday. The company has a debt-to-equity ratio of 3.71, a current ratio of 0.67 and a quick ratio of 0.67. OUTFRONT Media Inc. has a 12-month low of $8.18 and a 12-month high of $18.15. The firm’s fifty day moving average price is $16.03 and its 200 day moving average price is $15.42. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of -6.63, a price-to-earnings-growth ratio of 1.10 and a beta of 1.94.

OUTFRONT Media (NYSE:OUT) last released its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.60. The business had revenue of $477.30 million during the quarter, compared to the consensus estimate of $482.27 million. OUTFRONT Media had a net margin of 12.32% and a return on equity of 37.83%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.47 earnings per share. On average, research analysts forecast that OUTFRONT Media Inc. will post 1.53 EPS for the current fiscal year.

OUTFRONT Media Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 6th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 6.80%. The ex-dividend date of this dividend is Friday, September 6th. OUTFRONT Media’s dividend payout ratio is presently -45.11%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on OUT. Barrington Research upped their price objective on OUTFRONT Media from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Tuesday, August 13th. JPMorgan Chase & Co. upped their price target on OUTFRONT Media from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. TD Cowen began coverage on OUTFRONT Media in a research note on Tuesday, July 16th. They issued a “hold” rating and a $16.00 price objective on the stock. Finally, StockNews.com raised shares of OUTFRONT Media from a “hold” rating to a “buy” rating in a research report on Friday, August 30th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $16.00.

OUTFRONT Media Profile

OUTFRONT leverages the power of technology, location, and creativity to connect brands with consumers outside of their homes through one of the largest and most diverse sets of billboard, transit, and mobile assets in North America. Through its technology platform, OUTFRONT will fundamentally change the ways advertisers engage audiences on-the-go.