Ameriprise Financial Inc. Sells 387,107 Shares of Servicemaster Global Holdings Inc (SERV)
Ameriprise Financial Inc. trimmed its holdings in shares of Servicemaster Global Holdings Inc (NYSE:SERV) by 72.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 146,559 shares of the business services provider’s stock after selling 387,107 shares during the quarter. Ameriprise Financial Inc. owned 0.11% of Servicemaster Global worth $6,850,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. CIBC Asset Management Inc purchased a new stake in shares of Servicemaster Global during the 3rd quarter valued at about $206,000. The Manufacturers Life Insurance Company raised its position in shares of Servicemaster Global by 18.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,529 shares of the business services provider’s stock valued at $177,000 after buying an additional 708 shares in the last quarter. Oakbrook Investments LLC purchased a new stake in shares of Servicemaster Global during the 3rd quarter valued at about $213,000. BNP Paribas Arbitrage SA grew its holdings in Servicemaster Global by 117.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,559 shares of the business services provider’s stock valued at $179,000 after purchasing an additional 2,466 shares during the last quarter. Finally, Aperio Group LLC bought a new position in Servicemaster Global during the 3rd quarter valued at about $218,000. Hedge funds and other institutional investors own 99.96% of the company’s stock.
Several brokerages recently commented on SERV. Zacks Investment Research upgraded shares of Servicemaster Global from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Wednesday, October 4th. CIBC began coverage on shares of Servicemaster Global in a report on Wednesday, September 20th. They set an “outperform” rating and a $55.00 price target on the stock. Robert W. Baird reiterated a “hold” rating and set a $52.00 price target on shares of Servicemaster Global in a report on Wednesday, November 1st. Morgan Stanley upped their price target on shares of Servicemaster Global from $49.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, September 28th. Finally, BidaskClub downgraded shares of Servicemaster Global from a “sell” rating to a “strong sell” rating in a report on Saturday, November 4th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $49.00.
In related news, insider Mary Kay Wegner sold 6,562 shares of the stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $47.13, for a total transaction of $309,267.06. Following the completion of the sale, the insider now owns 6,562 shares of the company’s stock, valued at $309,267.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP James T. Lucke sold 21,000 shares of the stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $50.24, for a total transaction of $1,055,040.00. Following the sale, the senior vice president now directly owns 21,000 shares of the company’s stock, valued at approximately $1,055,040. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,464 shares of company stock worth $1,596,901. Insiders own 1.20% of the company’s stock.
Servicemaster Global Holdings Inc (SERV) opened at $51.36 on Tuesday. The company has a debt-to-equity ratio of 3.12, a current ratio of 1.03 and a quick ratio of 0.99. The company has a market cap of $6,940.00, a PE ratio of 29.69 and a beta of 1.00. Servicemaster Global Holdings Inc has a one year low of $36.34 and a one year high of $52.87.
Servicemaster Global (NYSE:SERV) last issued its earnings results on Tuesday, October 31st. The business services provider reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.12. The business had revenue of $797.00 million for the quarter, compared to the consensus estimate of $795.41 million. Servicemaster Global had a net margin of 8.16% and a return on equity of 40.22%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.59 EPS. sell-side analysts anticipate that Servicemaster Global Holdings Inc will post 2.09 earnings per share for the current fiscal year.
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Servicemaster Global Profile
ServiceMaster Global Holdings, Inc is a provider of essential residential and commercial services. The Company operates through three segments: Terminix, American Home Shield and the Franchise Services Group. Its portfolio of brands includes Terminix, American Home Shield, ServiceMaster Restore, ServiceMaster Clean, Merry Maids, Furniture Medic and AmeriSpec.
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