Garrison Financial Corp increased its position in shares of EMC Corp. (NYSE:EMC) by 2.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 108,220 shares of the information technology service provider’s stock after buying an additional 2,272 shares during the period. EMC Corp. makes up 2.0% of Garrison Financial Corp’s investment portfolio, making the stock its 22nd largest position. Garrison Financial Corp’s holdings in EMC Corp. were worth $2,940,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Renaissance Technologies LLC acquired a new stake in shares of EMC Corp. during the first quarter valued at $186,561,000. NN Investment Partners Holdings N.V. purchased a new position in shares of EMC Corp. during the first quarter valued at about $128,074,000. Samlyn Capital LLC purchased a new position in shares of EMC Corp. during the first quarter valued at about $79,006,000. York Capital Management Global Advisors LLC boosted its position in shares of EMC Corp. by 30.4% in the first quarter. York Capital Management Global Advisors LLC now owns 11,013,526 shares of the information technology service provider’s stock valued at $293,510,000 after buying an additional 2,567,922 shares during the period. Finally, Nordea Investment Management AB boosted its position in shares of EMC Corp. by 9.8% in the second quarter. Nordea Investment Management AB now owns 24,662,903 shares of the information technology service provider’s stock valued at $670,091,000 after buying an additional 2,206,074 shares during the period. Institutional investors and hedge funds own 79.86% of the company’s stock.
EMC Corp. (NYSE:EMC) remained flat at $29.05 during midday trading on Monday. The stock’s 50 day moving average price is $28.53 and its 200-day moving average price is $27.32. EMC Corp. has a 52-week low of $22.99 and a 52-week high of $29.00.
EMC Corp. (NYSE:EMC) last issued its earnings results on Monday, July 18th. The information technology service provider reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.03. EMC Corp. had a net margin of 8.55% and a return on equity of 11.98%. The company earned $6 billion during the quarter, compared to analysts’ expectations of $6 billion. During the same period last year, the company posted $0.43 earnings per share. The firm’s quarterly revenue was up .3% compared to the same quarter last year. On average, equities analysts anticipate that EMC Corp. will post $1.84 earnings per share for the current year.
Several research analysts recently issued reports on the company. Citigroup Inc. assumed coverage on EMC Corp. in a research note on Tuesday, July 26th. They issued a “neutral” rating and a $32.09 price objective on the stock. Zacks Investment Research cut EMC Corp. from a “buy” rating to a “hold” rating in a research note on Monday, June 20th. Mizuho cut EMC Corp. from a “buy” rating to a “neutral” rating and set a $29.50 price objective on the stock. in a research note on Monday, July 11th. Wells Fargo & Co. reissued a “market perform” rating on shares of EMC Corp. in a research note on Wednesday, August 31st. Finally, Robert W. Baird reissued an “outperform” rating and issued a $29.00 price objective (up previously from $28.00) on shares of EMC Corp. in a research note on Tuesday, July 19th. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and ten have given a buy rating to the stock. EMC Corp. currently has a consensus rating of “Hold” and an average price target of $30.27.
About EMC Corp.
EMC Corporation (EMC) develops, delivers and supports the information technology (IT) industry’s range of information infrastructure and virtual infrastructure technologies, solutions and services. EMC manages the Company as part of a federation of businesses: EMC Information Infrastructure, VMware Virtual Infrastructure, Pivotal and Virtustream.
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