Equitable Holdings Inc. grew its stake in shares of Atlas Corp. (NYSE:ATCO) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 495,848 shares of the company’s stock after buying an additional 5,969 shares during the period. Equitable Holdings Inc. owned approximately 0.20% of Atlas worth $5,375,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in shares of Atlas by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 428,793 shares of the company’s stock valued at $3,834,000 after acquiring an additional 1,359 shares during the last quarter. Koshinski Asset Management Inc. acquired a new position in shares of Atlas in the 4th quarter valued at $263,000. Sprott Inc. increased its position in shares of Atlas by 15.3% in the 3rd quarter. Sprott Inc. now owns 26,806 shares of the company’s stock valued at $240,000 after buying an additional 3,549 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Atlas during the 4th quarter worth $88,000. Finally, Raymond James & Associates raised its stake in Atlas by 2.4% during the 3rd quarter. Raymond James & Associates now owns 367,669 shares of the company’s stock worth $3,287,000 after buying an additional 8,732 shares during the period. Institutional investors own 52.06% of the company’s stock.
Several equities research analysts have issued reports on the company. B. Riley assumed coverage on Atlas in a report on Thursday, February 4th. They issued a “buy” rating and a $16.50 price target for the company. Jefferies Financial Group lifted their price target on shares of Atlas from $10.00 to $11.00 and gave the company a “hold” rating in a research note on Wednesday, November 11th. BMO Capital Markets lowered their price objective on shares of Atlas from $47.00 to $46.00 and set an “outperform” rating for the company in a research report on Friday, October 30th. Stifel Nicolaus raised their price objective on shares of Atlas from $9.50 to $11.00 and gave the stock a “hold” rating in a report on Monday, December 7th. Finally, Zacks Investment Research upgraded Atlas from a “strong sell” rating to a “hold” rating and set a $15.00 target price for the company in a report on Wednesday, February 17th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Atlas presently has a consensus rating of “Hold” and a consensus price target of $17.21.
Atlas stock opened at $13.58 on Tuesday. The company has a current ratio of 0.64, a quick ratio of 0.55 and a debt-to-equity ratio of 1.06. Atlas Corp. has a 1-year low of $5.39 and a 1-year high of $13.70. The company has a fifty day simple moving average of $11.83 and a 200 day simple moving average of $10.89. The company has a market cap of $3.35 billion, a P/E ratio of 14.76, a price-to-earnings-growth ratio of 0.66 and a beta of 1.10.
The business also recently disclosed a quarterly dividend, which was paid on Monday, February 1st. Stockholders of record on Wednesday, January 20th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend was Tuesday, January 19th. Atlas’s payout ratio is 64.10%.
Atlas Corp. operates as an asset manager and operator. The company, through its subsidiaries, operates as an independent charter owner and manager of containerships. The company charters its containerships under long-term and fixed-rate time charters to various container liner companies. As of March 10, 2020, it operated a fleet of 118 containerships.
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