Honeywell International Inc. Invests $980,000 in Outfront Media Inc (NYSE:OUT)

Honeywell International Inc. purchased a new position in Outfront Media Inc (NYSE:OUT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 37,980 shares of the financial services provider’s stock, valued at approximately $980,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Huntington National Bank raised its position in Outfront Media by 1,098.2% in the second quarter. Huntington National Bank now owns 1,342 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 1,230 shares during the period. Marshall Wace North America L.P. purchased a new stake in Outfront Media in the first quarter valued at $44,000. Advisor Group Inc. raised its position in Outfront Media by 148.4% in the fourth quarter. Advisor Group Inc. now owns 3,214 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 1,920 shares during the period. Stevens First Principles Investment Advisors purchased a new stake in Outfront Media in the second quarter valued at $68,000. Finally, Advisory Services Network LLC raised its position in Outfront Media by 106.9% in the fourth quarter. Advisory Services Network LLC now owns 4,188 shares of the financial services provider’s stock valued at $76,000 after purchasing an additional 2,164 shares during the period. 95.03% of the stock is currently owned by institutional investors.

OUT stock opened at $26.90 on Friday. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market cap of $3.85 billion, a P/E ratio of 12.51, a PEG ratio of 1.42 and a beta of 1.11. Outfront Media Inc has a 12-month low of $16.81 and a 12-month high of $27.53. The company has a fifty day moving average price of $26.35.

Outfront Media (NYSE:OUT) last posted its quarterly earnings data on Tuesday, May 7th. The financial services provider reported $0.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.23). The firm had revenue of $371.70 million during the quarter, compared to analysts’ expectations of $364.55 million. Outfront Media had a net margin of 6.40% and a return on equity of 9.36%. Outfront Media’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.27 EPS. Sell-side analysts expect that Outfront Media Inc will post 2.16 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.44 annualized dividend and a dividend yield of 5.35%. Outfront Media’s dividend payout ratio is presently 66.98%.

A number of equities research analysts have commented on OUT shares. Zacks Investment Research upgraded Outfront Media from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Thursday, July 25th. Barrington Research restated a “buy” rating and issued a $29.00 target price on shares of Outfront Media in a research report on Wednesday, May 29th. Finally, Imperial Capital restated an “outperform” rating and issued a $30.00 target price (up previously from $29.00) on shares of Outfront Media in a research report on Monday, July 22nd. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Outfront Media currently has a consensus rating of “Buy” and an average target price of $27.31.

Outfront Media Company Profile

OUTFRONT leverages the power of technology, location and creativity to connect brands with consumers outside of their homes through one of the largest and most diverse sets of billboard, transit, and mobile assets in North America. Through its ON Smart Media platform, OUTFRONT is implementing digital technology that will fundamentally change the ways advertisers engage audiences on-the-go.

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Institutional Ownership by Quarter for Outfront Media (NYSE:OUT)

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