State Board of Administration of Florida Retirement System lowered its stake in Textainer Group Holdings Ltd. (NYSE:TGH) by 0.2% during the second quarter, Holdings Channel reports. The firm owned 20,558 shares of the company’s stock after selling 42 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Textainer Group Holdings were worth $229,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Emerald Acquisition Ltd. purchased a new position in Textainer Group Holdings during the second quarter valued at $960,000. Jacobs Levy Equity Management Inc. purchased a new position in Textainer Group Holdings during the first quarter valued at $1,246,000. A.R.T. Advisors LLC purchased a new position in Textainer Group Holdings during the first quarter valued at $1,163,000. Prudential Financial Inc. purchased a new position in Textainer Group Holdings during the first quarter valued at $771,000. Finally, UBS Group AG boosted its position in Textainer Group Holdings by 37.8% in the first quarter. UBS Group AG now owns 110,544 shares of the company’s stock valued at $1,641,000 after buying an additional 30,303 shares during the period. Institutional investors and hedge funds own 13.99% of the company’s stock.
Shares of Textainer Group Holdings Ltd. (NYSE:TGH) traded down 0.70% during mid-day trading on Tuesday, hitting $7.10. 56,417 shares of the company were exchanged. The company has a 50 day moving average of $7.99 and a 200 day moving average of $11.25. Textainer Group Holdings Ltd. has a 52 week low of $7.05 and a 52 week high of $21.12. The company has a market capitalization of $401.79 million, a P/E ratio of 15.40 and a beta of 2.27.
Textainer Group Holdings (NYSE:TGH) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.09. The business earned $127.45 million during the quarter, compared to the consensus estimate of $125.61 million. Textainer Group Holdings had a return on equity of 3.16% and a net margin of 5.08%. The firm’s revenue was down 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.66 earnings per share. Equities analysts anticipate that Textainer Group Holdings Ltd. will post $0.32 earnings per share for the current year.
Several research analysts recently weighed in on TGH shares. Cowen and Company cut their price target on shares of Textainer Group Holdings from $15.00 to $13.00 and set a “market perform” rating on the stock in a report on Tuesday, August 9th. Zacks Investment Research upgraded shares of Textainer Group Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday. Six research analysts have rated the stock with a hold rating, Textainer Group Holdings currently has a consensus rating of “Hold” and a consensus target price of $13.33.
About Textainer Group Holdings
Textainer Group Holdings Limited (TGH) is a holding company. The Company is involved in the purchase, ownership, management, leasing and disposal of a fleet of intermodal containers. The Company operates in three segments: Container Ownership, which owned containers accounting for approximately 80% of the Company’s fleet; Container Management, which managed containers on behalf of approximately 10 affiliated and unaffiliated container investors, providing acquisition, management and disposal services, and total managed containers accounted for approximately 20% of its fleet, and Container Resale, which sells containers from its fleet when they reach the end of their useful lives in marine service, and also purchases and leases or resells containers from shipping line customers, container traders and other sellers of containers.
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