London Co. of Virginia Sells 32,806 Shares of Alexander & Baldwin Holdings, Inc. $ALEX

London Co. of Virginia lowered its stake in Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) by 3.7% during the 3rd quarter, Holdings Channel reports. The firm owned 854,724 shares of the financial services provider’s stock after selling 32,806 shares during the quarter. London Co. of Virginia’s holdings in Alexander & Baldwin were worth $15,547,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Alexander & Baldwin by 1.1% in the third quarter. Vanguard Group Inc. now owns 11,771,709 shares of the financial services provider’s stock worth $214,127,000 after buying an additional 126,357 shares in the last quarter. Franklin Resources Inc. grew its holdings in Alexander & Baldwin by 33.1% during the 2nd quarter. Franklin Resources Inc. now owns 2,517,438 shares of the financial services provider’s stock valued at $44,886,000 after buying an additional 626,289 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Alexander & Baldwin by 21.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,515,304 shares of the financial services provider’s stock worth $27,018,000 after acquiring an additional 263,483 shares during the last quarter. Millennium Management LLC increased its stake in Alexander & Baldwin by 81.8% in the 1st quarter. Millennium Management LLC now owns 737,931 shares of the financial services provider’s stock worth $12,715,000 after acquiring an additional 331,969 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Alexander & Baldwin by 30.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 691,267 shares of the financial services provider’s stock worth $12,574,000 after acquiring an additional 160,626 shares in the last quarter. Hedge funds and other institutional investors own 91.29% of the company’s stock.

Wall Street Analyst Weigh In

ALEX has been the subject of a number of research reports. Janney Montgomery Scott downgraded Alexander & Baldwin from a “buy” rating to a “neutral” rating and set a $21.00 target price for the company. in a research report on Wednesday, December 10th. iA Financial set a $20.85 price target on shares of Alexander & Baldwin in a research report on Wednesday, December 10th. Piper Sandler downgraded shares of Alexander & Baldwin from an “overweight” rating to a “neutral” rating and set a $21.00 price target on the stock. in a research note on Tuesday, December 9th. Alliance Global Partners lowered shares of Alexander & Baldwin from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 10th. Finally, Weiss Ratings raised shares of Alexander & Baldwin from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, January 30th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $20.95.

Alexander & Baldwin Price Performance

NYSE:ALEX opened at $20.84 on Tuesday. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 20.63 and a beta of 0.90. Alexander & Baldwin Holdings, Inc. has a 1 year low of $15.07 and a 1 year high of $21.03. The business has a 50 day simple moving average of $20.78 and a 200-day simple moving average of $18.85. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.27 and a quick ratio of 0.27.

Alexander & Baldwin (NYSE:ALEX) last released its earnings results on Friday, February 27th. The financial services provider reported $0.05 earnings per share for the quarter. Alexander & Baldwin had a return on equity of 6.43% and a net margin of 31.29%.The firm had revenue of $50.99 million for the quarter. Equities analysts forecast that Alexander & Baldwin Holdings, Inc. will post 1.35 EPS for the current year.

Alexander & Baldwin Company Profile

Founded in 1870 by Samuel T. Alexander and Henry P. Baldwin as a sugarcane plantation on Maui, Alexander & Baldwin, Inc (NYSE: ALEX) today operates as a Hawai‘i-focused real estate investment trust headquartered in Honolulu. The company transitioned from its agricultural origins into a diversified real estate owner, operator and developer, completing its conversion to a REIT structure in late 2019 to align its corporate governance with its core property portfolio.

Alexander & Baldwin’s commercial real estate arm spans office, retail, industrial and hospitality properties across the four major Hawaiian Islands.