Echo Street Capital Management LLC Sells 108,383 Shares of S&P Global Inc. (SPGI)
Echo Street Capital Management LLC reduced its stake in shares of S&P Global Inc. (NYSE:SPGI) by 76.3% during the third quarter, Holdings Channel reports. The fund owned 33,654 shares of the company’s stock after selling 108,383 shares during the period. Echo Street Capital Management LLC’s holdings in S&P Global were worth $4,259,000 as of its most recent filing with the SEC.
A number of other institutional investors have also made changes to their positions in SPGI. LS Investment Advisors LLC purchased a new position in S&P Global during the second quarter valued at approximately $3,270,000. Checchi Capital Advisers LLC purchased a new position in S&P Global during the second quarter valued at approximately $354,000. CIBC World Markets Inc. purchased a new position in S&P Global during the second quarter valued at approximately $7,731,000. Robeco Institutional Asset Management B.V. purchased a new position in S&P Global during the second quarter valued at approximately $2,009,000. Finally, Security National Trust Co. purchased a new position in S&P Global during the second quarter valued at approximately $211,000. 86.19% of the stock is currently owned by institutional investors and hedge funds.
S&P Global Inc. (NYSE:SPGI) traded down 0.31% on Friday, reaching $112.24. 401,925 shares of the company were exchanged. The firm has a market capitalization of $29.08 billion, a P/E ratio of 16.55 and a beta of 1.45. S&P Global Inc. has a 12-month low of $78.55 and a 12-month high of $128.40. The firm has a 50-day moving average of $113.30 and a 200 day moving average of $118.88.
S&P Global (NYSE:SPGI) last issued its earnings results on Thursday, November 3rd. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.09. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.42 billion. S&P Global had a net margin of 32.24% and a return on equity of 378.19%. The business’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.19 earnings per share. On average, equities analysts predict that S&P Global Inc. will post $5.26 earnings per share for the current year.
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SPGI has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of S&P Global from a “hold” rating to a “buy” rating and set a $137.00 price target for the company in a research note on Thursday, November 17th. Barclays PLC upgraded shares of S&P Global from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $140.00 to $145.00 in a research note on Wednesday, September 21st. Finally, Credit Suisse Group restated an “outperform” rating and set a $131.00 price target on shares of S&P Global in a research note on Sunday, November 20th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $131.14.
About S&P Global
S&P Global Inc, formerly McGraw Hill Financial, Inc, is a provider of transparent and independent ratings, benchmarks, analytics and data to the capital and commodity markets across the world. The Company’s products cater to the capital markets, which includes asset managers, investment banks, commercial banks, exchanges and issuers; the commodities markets, which includes producers, traders and intermediaries within energy, metals, petrochemicals and agriculture, and the commercial markets, which includes professionals and corporate executives within automotive and marketing/research information services.
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