Mitsubishi UFJ Asset Management Co. Ltd. Acquires 202,987 Shares of Xerox Holdings Co. (NYSE:XRX)

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Xerox Holdings Co. (NYSE:XRX) by 60.2% during the fourth quarter, HoldingsChannel reports. The fund owned 540,109 shares of the information technology services provider’s stock after acquiring an additional 202,987 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Xerox were worth $4,467,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp grew its stake in Xerox by 12.3% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 476,266 shares of the information technology services provider’s stock worth $4,015,000 after buying an additional 52,104 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Xerox during the 4th quarter worth about $177,000. Vanguard Group Inc. raised its stake in shares of Xerox by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 15,763,679 shares of the information technology services provider’s stock worth $132,888,000 after buying an additional 199,598 shares during the period. LPL Financial LLC lifted its holdings in Xerox by 13.0% during the fourth quarter. LPL Financial LLC now owns 77,064 shares of the information technology services provider’s stock valued at $650,000 after purchasing an additional 8,837 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in Xerox during the 4th quarter worth approximately $440,000. 85.36% of the stock is currently owned by institutional investors.

Xerox Stock Performance

NYSE XRX opened at $4.92 on Wednesday. The stock has a fifty day simple moving average of $7.14 and a 200-day simple moving average of $8.54. The company has a current ratio of 1.11, a quick ratio of 0.84 and a debt-to-equity ratio of 2.61. The stock has a market cap of $616.38 million, a PE ratio of -0.46 and a beta of 1.66. Xerox Holdings Co. has a twelve month low of $4.72 and a twelve month high of $18.18.

Xerox Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 10.16%. The ex-dividend date is Monday, March 31st. Xerox’s dividend payout ratio is presently -4.66%.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Xerox from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Three equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $9.50.

Xerox Company Profile

Xerox Holdings Corporation, together with its subsidiaries, operates as a workplace technology company that integrates hardware, services, and software for enterprises in the Americas, Europe, the Middle East, Africa, India, and internationally. The company operates through two segments, Print and Other; and FITTLE.