California Public Employees Retirement System Raises Holdings in Servicemaster Global Holdings Inc (SERV)

California Public Employees Retirement System raised its position in shares of Servicemaster Global Holdings Inc (NYSE:SERV) by 28.9% in the first quarter, HoldingsChannel reports. The firm owned 350,870 shares of the business services provider’s stock after buying an additional 78,605 shares during the period. California Public Employees Retirement System’s holdings in Servicemaster Global were worth $16,386,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SERV. Legal & General Group Plc lifted its position in shares of Servicemaster Global by 7.3% during the 4th quarter. Legal & General Group Plc now owns 99,163 shares of the business services provider’s stock valued at $3,643,000 after acquiring an additional 6,760 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Servicemaster Global during the 4th quarter valued at $499,000. Norges Bank acquired a new stake in shares of Servicemaster Global during the 4th quarter valued at $44,518,000. Congress Asset Management Co. MA acquired a new stake in shares of Servicemaster Global during the 4th quarter valued at $4,347,000. Finally, Teacher Retirement System of Texas lifted its position in shares of Servicemaster Global by 1,750.8% during the 4th quarter. Teacher Retirement System of Texas now owns 295,153 shares of the business services provider’s stock valued at $10,844,000 after acquiring an additional 279,206 shares during the last quarter.

SERV opened at $54.52 on Monday. The firm has a market capitalization of $7.41 billion, a PE ratio of 57.39, a price-to-earnings-growth ratio of 2.12 and a beta of 1.01. Servicemaster Global Holdings Inc has a 12-month low of $34.28 and a 12-month high of $56.50. The company has a quick ratio of 1.13, a current ratio of 1.24 and a debt-to-equity ratio of 0.62.

Servicemaster Global (NYSE:SERV) last released its earnings results on Tuesday, May 7th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.02. The company had revenue of $482.00 million during the quarter, compared to analyst estimates of $473.13 million. Servicemaster Global had a positive return on equity of 14.89% and a negative net margin of 0.41%. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 earnings per share. Sell-side analysts anticipate that Servicemaster Global Holdings Inc will post 1.42 EPS for the current fiscal year.

In related news, insider Mary Kay Wegner sold 53,192 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $53.28, for a total transaction of $2,834,069.76. Following the completion of the sale, the insider now directly owns 23,864 shares in the company, valued at $1,271,473.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP John Patrick Mullen sold 22,376 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $47.80, for a total value of $1,069,572.80. Following the sale, the vice president now owns 14,389 shares of the company’s stock, valued at $687,794.20. The disclosure for this sale can be found here. 0.23% of the stock is owned by corporate insiders.

A number of research firms have recently issued reports on SERV. Morgan Stanley increased their target price on Servicemaster Global from $42.00 to $45.00 and gave the company an “equal weight” rating in a report on Wednesday, May 8th. Buckingham Research lowered Servicemaster Global from a “buy” rating to a “neutral” rating and set a $53.00 target price for the company. in a report on Wednesday, May 8th. They noted that the move was a valuation call. ValuEngine upgraded Servicemaster Global from a “hold” rating to a “buy” rating in a report on Wednesday, May 8th. Oppenheimer increased their target price on Servicemaster Global from $47.00 to $55.00 and gave the company an “outperform” rating in a report on Wednesday, March 13th. Finally, Bank of America lowered Servicemaster Global from a “buy” rating to an “underperform” rating and reduced their target price for the company from $45.00 to $36.00 in a report on Wednesday, February 20th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. Servicemaster Global presently has a consensus rating of “Hold” and a consensus price target of $46.89.

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About Servicemaster Global

ServiceMaster Global Holdings, Inc provides services to residential and commercial customers in the termite, pest control, cleaning, and restoration markets in all 50 states and the District of Columbia. The company operates through two segments, Terminix and ServiceMaster Brands. The Terminix segment offers termite and pest control services, including termite remediation, annual termite inspection, and prevention treatments with damage claim guarantees, periodic pest control services, insulation services, mosquito control, crawlspace encapsulation, and wildlife exclusion.

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Institutional Ownership by Quarter for Servicemaster Global (NYSE:SERV)

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