Neff Corp (NEFF) Stake Boosted by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its stake in Neff Corp (NYSE:NEFF) by 1,270.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,875 shares of the industrial products company’s stock after purchasing an additional 74,975 shares during the quarter. JPMorgan Chase & Co. owned 0.91% of Neff Corp worth $1,537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the company. American International Group Inc. raised its position in shares of Neff Corp by 7.1% in the 1st quarter. American International Group Inc. now owns 5,861 shares of the industrial products company’s stock worth $114,000 after purchasing an additional 389 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Neff Corp by 4.1% in the 1st quarter. Bank of New York Mellon Corp now owns 44,072 shares of the industrial products company’s stock worth $858,000 after purchasing an additional 1,719 shares during the last quarter. Morgan Stanley raised its position in shares of Neff Corp by 1.8% in the 1st quarter. Morgan Stanley now owns 106,192 shares of the industrial products company’s stock worth $2,065,000 after purchasing an additional 1,895 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Neff Corp by 55.5% in the 1st quarter. Russell Investments Group Ltd. now owns 5,968 shares of the industrial products company’s stock worth $116,000 after purchasing an additional 2,129 shares during the last quarter. Finally, Strs Ohio raised its position in shares of Neff Corp by 6.9% in the 2nd quarter. Strs Ohio now owns 35,600 shares of the industrial products company’s stock worth $676,000 after purchasing an additional 2,300 shares during the last quarter. 33.94% of the stock is owned by hedge funds and other institutional investors.

Neff Corp (NYSE:NEFF) last released its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.16). The business had revenue of $104.10 million during the quarter, compared to the consensus estimate of $104.35 million. During the same period in the previous year, the business posted $0.31 EPS. The business’s revenue was up 4.4% compared to the same quarter last year.

Several equities analysts have recently issued reports on the company. ValuEngine lowered Neff Corp from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 4th. Jefferies Group LLC reaffirmed a “neutral” rating on shares of Neff Corp in a research report on Thursday, August 3rd. Finally, Zacks Investment Research lowered Neff Corp from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $20.20.

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About Neff Corp

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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Institutional Ownership by Quarter for Neff Corp (NYSE:NEFF)

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