PLDT Inc. $PHI Position Decreased by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. lessened its holdings in shares of PLDT Inc. (NYSE:PHI) by 49.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 37,885 shares of the technology company’s stock after selling 37,668 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in PLDT were worth $674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Engineers Gate Manager LP raised its holdings in PLDT by 40.3% in the 2nd quarter. Engineers Gate Manager LP now owns 22,887 shares of the technology company’s stock worth $401,000 after purchasing an additional 6,572 shares during the period. EverSource Wealth Advisors LLC lifted its position in PLDT by 74.5% during the first quarter. EverSource Wealth Advisors LLC now owns 7,390 shares of the technology company’s stock valued at $155,000 after purchasing an additional 3,155 shares in the last quarter. Quantinno Capital Management LP grew its holdings in PLDT by 47.0% during the first quarter. Quantinno Capital Management LP now owns 121,103 shares of the technology company’s stock valued at $2,548,000 after purchasing an additional 38,731 shares during the period. Renaissance Technologies LLC grew its holdings in PLDT by 1.3% during the first quarter. Renaissance Technologies LLC now owns 2,327,067 shares of the technology company’s stock valued at $48,961,000 after purchasing an additional 29,024 shares during the period. Finally, First Trust Advisors LP grew its holdings in PLDT by 40.8% during the first quarter. First Trust Advisors LP now owns 17,926 shares of the technology company’s stock valued at $377,000 after purchasing an additional 5,197 shares during the period. Institutional investors own 2.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Weiss Ratings cut PLDT from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, August 31st. TD Cowen reaffirmed a “hold” rating on shares of PLDT in a research report on Thursday, August 13th. JPMorgan Chase & Co. downgraded PLDT from an “overweight” rating to a “neutral” rating in a research note on Monday, August 17th. Finally, Zacks Research raised shares of PLDT from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. Four equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

PLDT Stock Down 2.3%

PHI opened at $18.48 on Tuesday. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.43 and a current ratio of 0.44. PLDT Inc. has a fifty-two week low of $16.71 and a fifty-two week high of $24.51. The firm’s fifty day moving average is $18.45 and its 200 day moving average is $20.07. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of 8.33, a price-to-earnings-growth ratio of 2.87 and a beta of 0.64.

PLDT Cuts Dividend

The firm also recently declared a dividend, which was paid on Friday, September 25th. Shareholders of record on Thursday, August 27th were issued a dividend of $0.7515 per share. This is a drop from PLDT’s previous dividend of $0.7977. This represents a yield of 841.0%. The ex-dividend date of this dividend was Thursday, August 27th. PLDT’s payout ratio is 49.10%.

PLDT Company Profile

PLDT Inc is a Philippine telecommunications and digital services company serving consumers, businesses and government institutions primarily throughout the Philippines. Its operations include fixed-line telephone services, mobile communications, broadband connectivity, wireless data and digital solutions.

Through its wireless subsidiary Smart Communications, PLDT provides mobile voice, messaging, data and broadband services. The company also offers fiber and other fixed broadband services through PLDT Home, while its enterprise business provides connectivity, information and communications technology services, cloud solutions, cybersecurity, data center services and other digital infrastructure offerings.

PLDT traces its origins to 1928, when the Philippine Long Distance Telephone Company was established.