Allspring Global Investments Holdings LLC Has $140.07 Million Stake in KT Co. (NYSE:KT)

Allspring Global Investments Holdings LLC trimmed its stake in shares of KT Co. (NYSE:KT) by 10.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,107,187 shares of the technology company’s stock after selling 1,103,054 shares during the period. Allspring Global Investments Holdings LLC’s holdings in KT were worth $140,069,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its position in shares of KT by 9.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,061,368 shares of the technology company’s stock worth $141,061,000 after purchasing an additional 829,682 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in KT by 2.4% in the first quarter. Lazard Asset Management LLC now owns 3,556,193 shares of the technology company’s stock valued at $49,857,000 after buying an additional 84,760 shares during the period. Russell Investments Group Ltd. lifted its holdings in KT by 0.5% in the first quarter. Russell Investments Group Ltd. now owns 3,212,410 shares of the technology company’s stock valued at $45,038,000 after buying an additional 16,362 shares during the period. Sei Investments Co. lifted its holdings in KT by 2.3% in the second quarter. Sei Investments Co. now owns 1,519,693 shares of the technology company’s stock valued at $20,774,000 after buying an additional 34,164 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings in KT by 245.7% in the second quarter. Acadian Asset Management LLC now owns 1,132,607 shares of the technology company’s stock valued at $15,476,000 after buying an additional 804,986 shares during the period. 18.86% of the stock is currently owned by institutional investors and hedge funds.

KT Trading Up 0.3 %

NYSE:KT traded up $0.04 during trading hours on Friday, hitting $15.75. The stock had a trading volume of 497,597 shares, compared to its average volume of 747,051. KT Co. has a one year low of $11.83 and a one year high of $15.90. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.08. The company has a market cap of $8.12 billion, a price-to-earnings ratio of 9.49, a P/E/G ratio of 0.71 and a beta of 0.90. The business’s 50 day moving average is $15.08 and its 200-day moving average is $13.94.

KT (NYSE:KT) last issued its earnings results on Monday, August 26th. The technology company reported $0.58 EPS for the quarter. KT had a net margin of 4.07% and a return on equity of 5.60%. The firm had revenue of $4.77 billion during the quarter. Sell-side analysts anticipate that KT Co. will post 1.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group lowered shares of KT from a “buy” rating to a “neutral” rating in a report on Thursday, July 11th. StockNews.com upgraded shares of KT from a “buy” rating to a “strong-buy” rating in a report on Friday, August 23rd. Finally, New Street Research raised shares of KT to a “strong-buy” rating in a research note on Monday, September 9th.

KT Company Profile

KT Corporation provides integrated telecommunications and platform services in Korea and internationally. The company offers mobile voice and data telecommunications services based on 5G, 4G LTE and 3G W-CDMA technology; fixed-line telephone services, including local, domestic long-distance, international long-distance, and voice over Internet protocol telephone services, as well as interconnection services; broadband Internet access service and other Internet-related services; and data communication services, such as fixed-line and leased line services, as well as broadband Internet connection services.