TIAA CREF Investment Management LLC raised its stake in shares of Neff Corporation (NYSE:NEFF) by 26.3% during the first quarter, according to its most recent filing with the SEC. The fund owned 75,868 shares of the industrial products company’s stock after buying an additional 15,814 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.86% of Neff Corporation worth $1,476,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in the stock. American International Group Inc. boosted its position in Neff Corporation by 7.1% in the first quarter. American International Group Inc. now owns 5,861 shares of the industrial products company’s stock valued at $114,000 after buying an additional 389 shares during the period. Russell Investments Group Ltd. boosted its position in Neff Corporation by 55.5% in the first quarter. Russell Investments Group Ltd. now owns 5,968 shares of the industrial products company’s stock valued at $116,000 after buying an additional 2,129 shares during the period. Nationwide Fund Advisors boosted its position in Neff Corporation by 38.6% in the first quarter. Nationwide Fund Advisors now owns 8,678 shares of the industrial products company’s stock valued at $169,000 after buying an additional 2,416 shares during the period. Bank of Montreal Can acquired a new position in Neff Corporation during the first quarter valued at about $176,000. Finally, Cornerstone Capital Management Holdings LLC. acquired a new position in Neff Corporation during the first quarter valued at about $219,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.
Neff Corporation (NYSE:NEFF) traded up 3.31% during trading on Friday, hitting $21.85. The stock had a trading volume of 819,351 shares. Neff Corporation has a 12 month low of $8.05 and a 12 month high of $21.90. The firm has a 50 day moving average of $20.09 and a 200-day moving average of $17.95. The stock has a market cap of $194.29 million, a price-to-earnings ratio of 15.66 and a beta of 3.41.
Neff Corporation (NYSE:NEFF) last released its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by $0.16. Neff Corporation had a negative return on equity of 9.21% and a net margin of 3.26%. The firm had revenue of $104.10 million during the quarter, compared to analysts’ expectations of $104.35 million. During the same period in the prior year, the firm posted $0.31 earnings per share. Neff Corporation’s revenue for the quarter was up 4.4% compared to the same quarter last year. Equities analysts predict that Neff Corporation will post $1.71 earnings per share for the current year.
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Several equities analysts recently issued reports on NEFF shares. ValuEngine cut Neff Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 4th. Zacks Investment Research raised Neff Corporation from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Wednesday, June 28th. Morgan Stanley upped their price objective on Neff Corporation from $16.00 to $20.00 and gave the company an “equal weight” rating in a research report on Friday, April 28th. Jefferies Group LLC upped their price objective on Neff Corporation from $14.00 to $20.00 and gave the company a “hold” rating in a research report on Monday, May 1st. Finally, Wells Fargo & Company reaffirmed a “market perform” rating and issued a $18.00 price objective (up from $8.50) on shares of Neff Corporation in a research report on Tuesday, June 6th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $20.17.
About Neff Corporation
Neff Corporation is an equipment rental company. The Company offers an array of equipment rental solutions for its customer base, including infrastructure, non-residential construction, oil and gas, and residential construction customers. Its fleet of equipment includes earthmoving, material handling, aerial and other rental equipment.
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