Mondrian Investment Partners LTD Reduces Stake in PLDT Inc. (PHI)

Mondrian Investment Partners LTD decreased its position in PLDT Inc. (NYSE:PHI) by 16.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,575,440 shares of the technology company’s stock after selling 1,080,733 shares during the period. PLDT comprises 5.6% of Mondrian Investment Partners LTD’s investment portfolio, making the stock its 4th largest position. Mondrian Investment Partners LTD owned 2.58% of PLDT worth $196,869,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Fisher Asset Management LLC purchased a new position in PLDT during the second quarter valued at about $201,000. Stevens Capital Management LP purchased a new position in PLDT during the first quarter valued at about $260,000. Bank of New York Mellon Corp raised its position in PLDT by 7.4% in the first quarter. Bank of New York Mellon Corp now owns 8,272 shares of the technology company’s stock valued at $265,000 after buying an additional 568 shares during the last quarter. Wetherby Asset Management Inc. purchased a new position in PLDT during the first quarter valued at about $288,000. Finally, Jane Street Group LLC purchased a new position in PLDT during the first quarter valued at about $288,000. Institutional investors own 10.19% of the company’s stock.

PLDT Inc. (NYSE:PHI) opened at 33.01 on Friday. PLDT Inc. has a one year low of $25.50 and a one year high of $40.75. The stock’s 50 day moving average is $34.08 and its 200 day moving average is $33.06. The firm has a market cap of $7.13 billion, a price-to-earnings ratio of 19.25 and a beta of 1.01.

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Several research firms recently issued reports on PHI. Zacks Investment Research lowered shares of PLDT from a “hold” rating to a “sell” rating in a report on Tuesday. BidaskClub lowered shares of PLDT from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Deutsche Bank AG lowered shares of PLDT from a “buy” rating to a “hold” rating in a report on Monday, July 17th. TheStreet upgraded shares of PLDT from a “d+” rating to a “c-” rating in a report on Monday, June 5th. Finally, Macquarie upgraded shares of PLDT from a “neutral” rating to an “outperform” rating in a report on Friday, May 26th. Four investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. PLDT has an average rating of “Hold” and an average target price of $39.00.

About PLDT

PLDT, Inc, formerly Philippine Long Distance Telephone Company (PLDT), is a telecommunications service provider in the Philippines. The Company operates through three business segments: Wireless, Fixed Line and Others. The Company, through its business segments, offers a range of telecommunications services across the Philippines’ fiber optic backbone and wireless and fixed line networks.

Institutional Ownership by Quarter for PLDT (NYSE:PHI)

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