California Public Employees Retirement System decreased its holdings in YRC Worldwide Inc (NASDAQ:YRCW) by 28.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 97,412 shares of the transportation company’s stock after selling 38,341 shares during the quarter. California Public Employees Retirement System’s holdings in YRC Worldwide were worth $979,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of YRCW. Sei Investments Co. lifted its stake in YRC Worldwide by 15.7% in the second quarter. Sei Investments Co. now owns 109,669 shares of the transportation company’s stock worth $1,102,000 after acquiring an additional 14,849 shares during the last quarter. Deprince Race & Zollo Inc. lifted its stake in YRC Worldwide by 66.7% in the second quarter. Deprince Race & Zollo Inc. now owns 30,000 shares of the transportation company’s stock worth $302,000 after acquiring an additional 12,000 shares during the last quarter. Ontario Teachers Pension Plan Board purchased a new position in YRC Worldwide in the second quarter worth approximately $372,000. BlackRock Inc. lifted its stake in YRC Worldwide by 5.2% in the second quarter. BlackRock Inc. now owns 2,329,945 shares of the transportation company’s stock worth $23,415,000 after acquiring an additional 116,023 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in YRC Worldwide by 67.7% in the second quarter. Acadian Asset Management LLC now owns 40,817 shares of the transportation company’s stock worth $410,000 after acquiring an additional 16,480 shares during the last quarter. 77.97% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently issued reports on the stock. Deutsche Bank upgraded shares of YRC Worldwide from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research note on Tuesday, August 21st. Stifel Nicolaus decreased their price target on shares of YRC Worldwide from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, August 3rd. BidaskClub downgraded shares of YRC Worldwide from a “sell” rating to a “strong sell” rating in a research note on Tuesday, September 25th. Finally, Loop Capital assumed coverage on shares of YRC Worldwide in a research note on Monday, October 1st. They issued a “buy” rating and a $18.00 price target for the company. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $16.80.
YRC Worldwide (NASDAQ:YRCW) last issued its quarterly earnings data on Thursday, November 1st. The transportation company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.42). The company had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.29 billion. YRC Worldwide had a negative return on equity of 1.64% and a negative net margin of 0.09%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.09 EPS. As a group, equities research analysts forecast that YRC Worldwide Inc will post 0.7 EPS for the current fiscal year.
About YRC Worldwide
YRC Worldwide Inc, through its subsidiaries, provides various transportation services primarily in North America. Its YRC Freight segment offers various services to transport industrial, commercial, and retail goods; and provides specialized services, including guaranteed expedited services, time-specific deliveries, cross-border services, coast-to-coast air delivery, product returns, temperature-sensitive shipment protection, and government material shipments.
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