Envestnet Asset Management Inc. Has $791,000 Stake in Teekay Corporation Ltd. (NYSE:TK)

Envestnet Asset Management Inc. raised its position in Teekay Corporation Ltd. (NYSE:TK) by 19.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 120,345 shares of the shipping company’s stock after purchasing an additional 19,973 shares during the quarter. Envestnet Asset Management Inc. owned 0.13% of Teekay worth $791,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TK. Concurrent Investment Advisors LLC boosted its position in Teekay by 101.7% during the 1st quarter. Concurrent Investment Advisors LLC now owns 36,592 shares of the shipping company’s stock worth $240,000 after acquiring an additional 18,452 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Teekay by 80.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 858,425 shares of the shipping company’s stock worth $5,657,000 after acquiring an additional 383,997 shares during the last quarter. Diversified Trust Co boosted its position in Teekay by 40.6% during the 1st quarter. Diversified Trust Co now owns 22,620 shares of the shipping company’s stock worth $149,000 after acquiring an additional 6,530 shares during the last quarter. Ritholtz Wealth Management acquired a new position in Teekay during the 1st quarter worth approximately $858,000. Finally, SummerHaven Investment Management LLC boosted its position in Teekay by 2.2% during the 1st quarter. SummerHaven Investment Management LLC now owns 95,486 shares of the shipping company’s stock worth $627,000 after acquiring an additional 2,014 shares during the last quarter. Institutional investors and hedge funds own 46.73% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded Teekay from a “buy” rating to a “hold” rating in a research report on Monday, May 19th.

Teekay Trading Up 0.6%

NYSE TK opened at $7.24 on Monday. The company has a market cap of $664.92 million, a PE ratio of 5.13 and a beta of 0.49. Teekay Corporation Ltd. has a 12 month low of $5.65 and a 12 month high of $9.78. The stock has a 50 day moving average of $8.17 and a 200-day moving average of $7.39.

Teekay Dividend Announcement

The business also recently disclosed a — dividend, which was paid on Wednesday, July 16th. Stockholders of record on Wednesday, July 2nd were issued a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, July 2nd.

Teekay Profile

Teekay Corporation engages in the international crude oil and other marine transportation services worldwide. The company owns and operates crude oil and refined product tankers. It also provides ship-to-ship support services; tanker commercial management operation services; and operational and maintenance marine services.