The Manufacturers Life Insurance Company Raises Stock Holdings in ATS Co. (NYSE:ATS)

The Manufacturers Life Insurance Company lifted its stake in shares of ATS Co. (NYSE:ATS) by 135.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,240,430 shares of the company’s stock after acquiring an additional 1,862,912 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 3.31% of ATS worth $104,707,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ATS. 1832 Asset Management L.P. increased its stake in shares of ATS by 90.1% in the first quarter. 1832 Asset Management L.P. now owns 439,400 shares of the company’s stock worth $14,817,000 after purchasing an additional 208,200 shares in the last quarter. ACK Asset Management LLC grew its holdings in ATS by 6.8% during the 4th quarter. ACK Asset Management LLC now owns 1,304,980 shares of the company’s stock valued at $56,205,000 after buying an additional 83,639 shares in the last quarter. Capital International Sarl lifted its holdings in shares of ATS by 40.7% in the first quarter. Capital International Sarl now owns 149,785 shares of the company’s stock worth $5,044,000 after buying an additional 43,336 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of ATS by 18.3% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 323,602 shares of the company’s stock worth $10,907,000 after acquiring an additional 50,000 shares during the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. grew its stake in ATS by 67.0% during the first quarter. Dixon Mitchell Investment Counsel Inc. now owns 138,625 shares of the company’s stock valued at $4,669,000 after acquiring an additional 55,600 shares in the last quarter. 75.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ATS. The Goldman Sachs Group cut their price objective on ATS from $34.00 to $30.00 and set a “sell” rating for the company in a research report on Tuesday, August 13th. JPMorgan Chase & Co. reduced their price objective on ATS from $36.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $42.00.

ATS Trading Down 1.5 %

ATS opened at $29.73 on Friday. ATS Co. has a 12 month low of $24.82 and a 12 month high of $44.70. The company has a current ratio of 1.79, a quick ratio of 1.51 and a debt-to-equity ratio of 0.82. The stock has a 50-day moving average of $27.86 and a 200 day moving average of $31.17. The firm has a market cap of $2.91 billion, a P/E ratio of 20.36 and a beta of 1.17.

ATS (NYSE:ATS) last released its earnings results on Thursday, August 8th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.01). The company had revenue of $507.43 million for the quarter, compared to the consensus estimate of $502.41 million. ATS had a net margin of 6.11% and a return on equity of 14.63%. As a group, research analysts forecast that ATS Co. will post 1.44 EPS for the current year.

ATS Profile

ATS Corporation, together with its subsidiaries, provides automation solutions worldwide. The company is also involved in planning, designing, building, commissioning, and servicing automated manufacturing and assembly systems, including automation products and test solutions. In addition, it offers pre-automation services comprising discovery and analysis, concept development, simulation, and total cost of ownership modelling; post automation services, including training, process optimization, preventative maintenance, emergency and on-call support, spare parts, retooling, retrofits, and equipment relocation; and contract manufacturing services, as well as after sales and services.