Concord Wealth Partners Makes New Investment in Equifax Inc. (NYSE:EFX)

Posted by Defense World Staff on Apr 15th, 2023

Concord Wealth Partners purchased a new stake in Equifax Inc. (NYSE:EFX – Get Rating) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 147 shares of the credit services provider’s stock, valued at approximately $29,000.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Equifax by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 13,334,987 shares of the credit services provider’s stock valued at $2,286,015,000 after buying an additional 138,965 shares during the period. Farallon Capital Management LLC lifted its holdings in shares of Equifax by 10.4% in the 3rd quarter. Farallon Capital Management LLC now owns 1,785,097 shares of the credit services provider’s stock worth $306,019,000 after acquiring an additional 167,740 shares during the last quarter. Jensen Investment Management Inc. boosted its position in shares of Equifax by 13.6% during the 3rd quarter. Jensen Investment Management Inc. now owns 1,538,153 shares of the credit services provider’s stock worth $263,686,000 after purchasing an additional 184,030 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in Equifax by 1,392.1% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,003,501 shares of the credit services provider’s stock valued at $172,030,000 after purchasing an additional 936,245 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in Equifax by 7.8% in the third quarter. Van ECK Associates Corp now owns 931,491 shares of the credit services provider’s stock valued at $159,685,000 after purchasing an additional 67,795 shares during the period. 93.84% of the stock is currently owned by hedge funds and other institutional investors.

Equifax Stock Down 1.4 %

Equifax stock opened at $195.46 on Friday. The stock has a market cap of $24.09 billion, a PE ratio of 34.59, a P/E/G ratio of 1.93 and a beta of 1.45. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.68 and a quick ratio of 0.68. The stock’s fifty day moving average is $203.00 and its two-hundred day moving average is $195.14. Equifax Inc. has a 1-year low of $145.98 and a 1-year high of $234.14.

Equifax (NYSE:EFX – Get Rating) last announced its quarterly earnings data on Wednesday, February 8th. The credit services provider reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.03. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Equifax had a net margin of 13.59% and a return on equity of 24.19%. Equifax’s revenue was down 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.84 EPS. On average, sell-side analysts expect that Equifax Inc. will post 7.19 EPS for the current fiscal year.

Equifax Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Wednesday, February 22nd were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend was Tuesday, February 21st. Equifax’s payout ratio is 27.61%.

Wall Street Analysts Forecast Growth

EFX has been the subject of a number of research reports. Morgan Stanley dropped their price objective on Equifax from $194.00 to $190.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 22nd. BNP Paribas began coverage on shares of Equifax in a research note on Friday, January 6th. They set an “underperform” rating and a $150.00 price target on the stock. StockNews.com initiated coverage on shares of Equifax in a research note on Thursday, March 16th. They issued a “sell” rating for the company. Royal Bank of Canada upped their target price on shares of Equifax from $185.00 to $205.00 and gave the stock a “sector perform” rating in a research note on Friday, February 10th. Finally, The Goldman Sachs Group increased their target price on shares of Equifax from $187.00 to $212.00 and gave the stock a “neutral” rating in a report on Tuesday, January 10th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $212.07.

About Equifax

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Equifax, Inc engages in the provision of information solutions and human resources business process outsourcing services. It operates through the following business segments: U.S. Information Solutions, Workforce Solutions and International. The U.S. Information Solutions segment includes consumer and commercial information services, mortgage loan origination information, financial marketing services, and identity management.