Shares of Eaton Vance Corp (NYSE:EV) have been given an average recommendation of “Hold” by the nine research firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, six have given a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $42.00.
A number of research analysts recently commented on EV shares. ValuEngine upgraded shares of Valmont Industries from a “sell” rating to a “hold” rating in a research note on Friday, July 12th. Zacks Investment Research lowered shares of Hammerson from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. Credit Suisse Group started coverage on shares of Eaton Vance in a research note on Wednesday, June 12th. They set a “neutral” rating and a $44.00 price objective on the stock. Finally, Bank of America set a $24.00 price objective on shares of MakeMyTrip and gave the company a “sell” rating in a research note on Monday, May 20th.
Shares of NYSE:EV traded down $0.03 during trading hours on Tuesday, hitting $44.34. The stock had a trading volume of 692,323 shares, compared to its average volume of 714,093. Eaton Vance has a 1-year low of $32.28 and a 1-year high of $54.44. The company has a debt-to-equity ratio of 1.49, a current ratio of 11.82 and a quick ratio of 11.82. The firm has a market capitalization of $5.06 billion, a price-to-earnings ratio of 13.81, a price-to-earnings-growth ratio of 2.50 and a beta of 1.59. The firm has a fifty day moving average price of $42.11.
Eaton Vance declared that its board has approved a share buyback plan on Wednesday, July 10th that authorizes the company to buyback 8,000,000 outstanding shares. This buyback authorization authorizes the asset manager to buy shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 31st will be paid a dividend of $0.35 per share. The ex-dividend date is Tuesday, July 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.16%. Eaton Vance’s dividend payout ratio is presently 43.61%.
In related news, Director Leo I. Higdon, Jr. sold 4,883 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $44.32, for a total transaction of $216,414.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brian D. Langstraat sold 3,772 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $43.89, for a total transaction of $165,553.08. The disclosure for this sale can be found here.
Large investors have recently modified their holdings of the stock. Penserra Capital Management LLC bought a new stake in shares of Eaton Vance during the first quarter worth approximately $31,000. Quadrant Capital Group LLC boosted its stake in shares of Eaton Vance by 295.2% during the first quarter. Quadrant Capital Group LLC now owns 913 shares of the asset manager’s stock valued at $33,000 after purchasing an additional 682 shares during the period. Rehmann Capital Advisory Group boosted its stake in shares of Eaton Vance by 127.0% during the first quarter. Rehmann Capital Advisory Group now owns 901 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 504 shares during the period. Strs Ohio boosted its stake in shares of Eaton Vance by 28.5% during the first quarter. Strs Ohio now owns 1,706 shares of the asset manager’s stock valued at $68,000 after purchasing an additional 378 shares during the period. Finally, Private Capital Group LLC boosted its stake in shares of Eaton Vance by 183.8% during the first quarter. Private Capital Group LLC now owns 1,910 shares of the asset manager’s stock valued at $77,000 after purchasing an additional 1,237 shares during the period. Hedge funds and other institutional investors own 71.75% of the company’s stock.
Eaton Vance Company Profile
Eaton Vance Corp., through its subsidiaries, engages in the creation, marketing, and management of investment funds in the United States. It also provides investment management and counseling services to institutions and individuals. Further, the company operates as an adviser and distributor of investment companies and separate accounts.
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