Thornburg Investment Management Inc. Sells 511,284 Shares of ADT Inc (ADT)

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Thornburg Investment Management Inc. decreased its holdings in ADT Inc (NYSE:ADT) by 18.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,236,598 shares of the security and automation business’s stock after selling 511,284 shares during the period. Thornburg Investment Management Inc. owned approximately 0.30% of ADT worth $21,002,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Wells Fargo & Company MN increased its holdings in shares of ADT by 135.2% during the 3rd quarter. Wells Fargo & Company MN now owns 307,323 shares of the security and automation business’s stock worth $2,886,000 after buying an additional 176,658 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of ADT by 4.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 253,551 shares of the security and automation business’s stock worth $2,381,000 after buying an additional 10,537 shares during the last quarter. Copeland Capital Management LLC increased its holdings in shares of ADT by 22.6% during the 3rd quarter. Copeland Capital Management LLC now owns 1,039,898 shares of the security and automation business’s stock worth $9,765,000 after buying an additional 191,489 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in shares of ADT during the 3rd quarter worth approximately $392,000. Finally, Levin Capital Strategies L.P. acquired a new stake in shares of ADT during the 3rd quarter worth approximately $282,000. Institutional investors own 99.84% of the company’s stock.

ADT stock traded up $0.10 during trading on Wednesday, hitting $7.42. The company had a trading volume of 334,170 shares, compared to its average volume of 1,750,756. ADT Inc has a 1-year low of $6.93 and a 1-year high of $13.02. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.80 and a current ratio of 0.87. The company has a market capitalization of $5.88 billion and a PE ratio of -21.20.

ADT (NYSE:ADT) last posted its earnings results on Wednesday, August 8th. The security and automation business reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.04. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.13 billion. The company’s revenue was up 5.9% on a year-over-year basis. As a group, equities research analysts forecast that ADT Inc will post 0.77 earnings per share for the current year.

A number of analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of ADT from a “sell” rating to a “hold” rating in a report on Tuesday. ValuEngine upgraded shares of ADT from a “sell” rating to a “hold” rating in a report on Thursday, November 1st. Bank of America assumed coverage on shares of ADT in a report on Tuesday, October 23rd. They set a “buy” rating and a $11.00 price target for the company. Deutsche Bank assumed coverage on shares of ADT in a report on Monday, October 1st. They set a “hold” rating and a $11.00 price target for the company. Finally, Credit Suisse Group raised their price target on shares of ADT from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Friday, September 21st. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. ADT currently has an average rating of “Buy” and an average price target of $14.00.

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About ADT

ADT Inc provides security and automation solutions for homes and businesses in the United States and Canada. It provides a range of burglary, video, access control, fire and smoke alarm, and medical alert solutions to residential, commercial, and multi-site customers. The company primarily offers professionally monitored security solutions; and interactive home and business automation solutions that are designed to control access, react to movement, and sense carbon monoxide, flooding, and changes in temperature or other environmental conditions, as well as address personal emergencies, such as injuries, medical emergencies, or incapacitation.

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Institutional Ownership by Quarter for ADT (NYSE:ADT)

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