Sterling Capital Management LLC reduced its stake in Servicemaster Global Holdings Inc (NYSE:SERV) by 30.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 7,804 shares of the business services provider’s stock after selling 3,414 shares during the quarter. Sterling Capital Management LLC’s holdings in Servicemaster Global were worth $407,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. M&T Bank Corp grew its holdings in shares of Servicemaster Global by 3.0% during the second quarter. M&T Bank Corp now owns 6,432 shares of the business services provider’s stock worth $336,000 after buying an additional 190 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new position in Servicemaster Global during the second quarter worth $32,000. State of Alaska Department of Revenue raised its stake in Servicemaster Global by 2.1% during the second quarter. State of Alaska Department of Revenue now owns 33,544 shares of the business services provider’s stock worth $1,746,000 after acquiring an additional 705 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Servicemaster Global by 9.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,328 shares of the business services provider’s stock worth $434,000 after acquiring an additional 716 shares in the last quarter. Finally, Advisor Group Inc. raised its stake in Servicemaster Global by 61.9% during the second quarter. Advisor Group Inc. now owns 1,951 shares of the business services provider’s stock worth $102,000 after acquiring an additional 746 shares in the last quarter.
Several research firms have issued reports on SERV. Nomura reiterated a “buy” rating and set a $62.00 price objective on shares of Servicemaster Global in a research note on Thursday, August 8th. Buckingham Research increased their price objective on Servicemaster Global from $53.00 to $61.00 and gave the stock a “neutral” rating in a research note on Thursday, August 22nd. They noted that the move was a valuation call. Zacks Investment Research upgraded Servicemaster Global from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a research note on Wednesday. ValuEngine upgraded Servicemaster Global from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 4th. Finally, Morgan Stanley increased their price objective on Servicemaster Global from $51.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $51.00.
Servicemaster Global (NYSE:SERV) last announced its earnings results on Tuesday, August 6th. The business services provider reported $0.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.03. Servicemaster Global had a positive return on equity of 11.17% and a negative net margin of 2.02%. The company had revenue of $560.00 million during the quarter, compared to analyst estimates of $549.25 million. During the same period last year, the company posted $0.79 earnings per share. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, analysts forecast that Servicemaster Global Holdings Inc will post 1.47 earnings per share for the current fiscal year.
Servicemaster Global Company Profile
ServiceMaster Global Holdings, Inc provides services to residential and commercial customers in the termite, pest control, cleaning, and restoration markets in all 50 states and the District of Columbia. The company operates through two segments, Terminix and ServiceMaster Brands. The Terminix segment offers termite and pest control services, including termite remediation, annual termite inspection, and prevention treatments with damage claim guarantees, periodic pest control services, insulation services, mosquito control, crawlspace encapsulation, and wildlife exclusion.
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