Teekay Corporation Ltd. $TK Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund raised its holdings in Teekay Corporation Ltd. (NYSE:TK) by 119.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 91,623 shares of the shipping company’s stock after acquiring an additional 49,798 shares during the quarter. New York State Common Retirement Fund’s holdings in Teekay were worth $749,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Truist Financial Corp increased its holdings in shares of Teekay by 31.4% during the third quarter. Truist Financial Corp now owns 23,514 shares of the shipping company’s stock valued at $192,000 after acquiring an additional 5,618 shares in the last quarter. Strs Ohio increased its stake in Teekay by 10.4% during the 3rd quarter. Strs Ohio now owns 69,900 shares of the shipping company’s stock valued at $572,000 after purchasing an additional 6,600 shares in the last quarter. Ritholtz Wealth Management raised its holdings in shares of Teekay by 4.5% in the third quarter. Ritholtz Wealth Management now owns 152,321 shares of the shipping company’s stock worth $1,246,000 after buying an additional 6,520 shares during the last quarter. Concurrent Investment Advisors LLC raised its holdings in shares of Teekay by 20.9% in the third quarter. Concurrent Investment Advisors LLC now owns 45,956 shares of the shipping company’s stock worth $376,000 after buying an additional 7,953 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Teekay during the third quarter worth $27,000. Hedge funds and other institutional investors own 46.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Teekay in a research report on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

Teekay Trading Down 0.2%

Shares of NYSE TK opened at $10.58 on Wednesday. The company has a 50 day simple moving average of $9.57 and a two-hundred day simple moving average of $8.95. The stock has a market cap of $971.21 million, a price-to-earnings ratio of 7.50 and a beta of 0.20. Teekay Corporation Ltd. has a 12 month low of $5.65 and a 12 month high of $10.74.

About Teekay

Teekay Corporation (NYSE: TK) is a global provider of marine transportation and offshore production solutions for the energy industry. Founded in 1973 and headquartered in Vancouver, Canada, Teekay designs, owns and operates a diversified fleet of tankers and floating production, storage and offloading (FPSO) units. The company specializes in the movement and storage of crude oil, liquefied natural gas (LNG) and liquefied petroleum gas (LPG), offering integrated services that range from tanker transport to offshore production and marine maintenance.

Teekay’s core business is organized into three operating segments.