Russell Investments Group Ltd. lifted its holdings in shares of Student Transportation Inc (NASDAQ:STB) (TSE:STB) by 37.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 138,292 shares of the transportation company’s stock after acquiring an additional 37,612 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.15% of Student Transportation worth $839,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of STB. Global X Management Co. LLC bought a new position in shares of Student Transportation during the 1st quarter worth approximately $8,006,000. Renaissance Technologies LLC boosted its stake in shares of Student Transportation by 10.1% during the 1st quarter. Renaissance Technologies LLC now owns 1,485,671 shares of the transportation company’s stock worth $8,706,000 after acquiring an additional 136,427 shares during the period. EJF Capital LLC bought a new position in shares of Student Transportation during the 1st quarter worth approximately $292,000. Goldman Sachs Group Inc. boosted its stake in shares of Student Transportation by 101.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 84,739 shares of the transportation company’s stock worth $497,000 after acquiring an additional 42,652 shares during the period. Finally, Trexquant Investment LP boosted its stake in shares of Student Transportation by 85.3% during the 1st quarter. Trexquant Investment LP now owns 39,600 shares of the transportation company’s stock worth $232,000 after acquiring an additional 18,226 shares during the period. Institutional investors own 25.70% of the company’s stock.
Several analysts recently weighed in on STB shares. Zacks Investment Research raised Student Transportation from a “sell” rating to a “hold” rating in a report on Thursday, July 20th. BidaskClub raised Student Transportation from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Finally, National Bank Financial cut Student Transportation from an “outperform” rating to a “sector perform” rating in a report on Friday, June 2nd. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $7.08.
Shares of Student Transportation Inc (NASDAQ STB) traded down 0.258% during trading on Friday, reaching $5.795. The company’s stock had a trading volume of 181,619 shares. Student Transportation Inc has a 52-week low of $5.39 and a 52-week high of $6.21. The stock has a market cap of $547.81 million, a P/E ratio of 75.260 and a beta of 0.75. The stock has a 50-day moving average of $5.92 and a 200-day moving average of $5.89.
Student Transportation declared that its board has approved a share buyback program on Friday, May 19th that authorizes the company to repurchase 9,230,000 shares. This repurchase authorization authorizes the transportation company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a monthly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st will be issued a $0.0367 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 7.53%. The ex-dividend date of this dividend is Monday, October 30th. Student Transportation’s payout ratio is currently 488.89%.
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About Student Transportation
Student Transportation Inc is a Canada-based company engaged in providing school bus transportation services in North America. The Company provides school bus and management services to public and private schools in North America and offers services, such as contracted services, special needs transportation, charter services, direct to parent and used bus sales.
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