Commonwealth Equity Services LLC raised its position in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM – Get Rating) by 232.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,875 shares of the company’s stock after purchasing an additional 11,795 shares during the quarter. Commonwealth Equity Services LLC’s holdings in ZIM Integrated Shipping Services were worth $1,226,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its stake in ZIM Integrated Shipping Services by 17.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 47,102 shares of the company’s stock valued at $3,425,000 after purchasing an additional 6,903 shares during the period. IFG Advisory LLC raised its stake in ZIM Integrated Shipping Services by 8.1% during the 1st quarter. IFG Advisory LLC now owns 31,989 shares of the company’s stock valued at $2,325,000 after purchasing an additional 2,388 shares during the period. abrdn plc acquired a new stake in ZIM Integrated Shipping Services during the 1st quarter valued at $2,855,000. Westhampton Capital LLC grew its holdings in shares of ZIM Integrated Shipping Services by 25.9% during the 1st quarter. Westhampton Capital LLC now owns 4,380 shares of the company’s stock valued at $318,000 after acquiring an additional 900 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in shares of ZIM Integrated Shipping Services during the 1st quarter valued at $1,563,000. 47.33% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
ZIM has been the topic of several research analyst reports. JPMorgan Chase & Co. upgraded shares of ZIM Integrated Shipping Services from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $43.60 to $53.30 in a report on Friday, June 17th. Clarkson Capital restated a “neutral” rating on shares of ZIM Integrated Shipping Services in a report on Tuesday, June 14th. Jefferies Financial Group initiated coverage on shares of ZIM Integrated Shipping Services in a report on Wednesday, July 20th. They issued a “hold” rating and a $55.00 price objective for the company. Finally, Bank of America cut shares of ZIM Integrated Shipping Services from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $79.00 to $40.00 in a report on Friday, July 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, ZIM Integrated Shipping Services has an average rating of “Hold” and an average target price of $59.66.
ZIM Integrated Shipping Services Stock Down 2.3 %
ZIM stock opened at $51.86 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.29 and a quick ratio of 1.26. ZIM Integrated Shipping Services Ltd. has a 52-week low of $40.67 and a 52-week high of $91.23. The company has a 50-day moving average of $49.16 and a two-hundred day moving average of $61.00. The stock has a market capitalization of $6.22 billion, a price-to-earnings ratio of 1.08 and a beta of 2.23.
ZIM Integrated Shipping Services (NYSE:ZIM – Get Rating) last released its quarterly earnings results on Wednesday, May 18th. The company reported $14.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $12.65 by $1.54. ZIM Integrated Shipping Services had a net margin of 45.36% and a return on equity of 167.57%. The company had revenue of $3.72 billion during the quarter. During the same quarter last year, the company earned $5.13 earnings per share. As a group, equities research analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 41.47 EPS for the current year.
ZIM Integrated Shipping Services Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 8th. Shareholders of record on Tuesday, May 31st were issued a dividend of $2.85 per share. This represents a $11.40 dividend on an annualized basis and a yield of 21.98%. The ex-dividend date was Friday, May 27th. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is 23.80%.
About ZIM Integrated Shipping Services
ZIM Integrated Shipping Services Ltd., together with its subsidiaries, provides container shipping and related services in Israel and internationally. It provides door-to-door and port-to-port transportation services for various types of customers, including end-users, consolidators, and freight forwarders.
See Also
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