Envestnet Asset Management Inc. Has $26.18 Million Stock Holdings in A. O. Smith Corporation $AOS

Envestnet Asset Management Inc. decreased its holdings in shares of A. O. Smith Corporation (NYSE:AOS) by 0.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 399,266 shares of the industrial products company’s stock after selling 2,773 shares during the period. Envestnet Asset Management Inc. owned 0.28% of A. O. Smith worth $26,180,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AOS. Oppenheimer Asset Management Inc. bought a new position in shares of A. O. Smith in the second quarter valued at approximately $1,045,000. Principal Financial Group Inc. lifted its holdings in shares of A. O. Smith by 9.7% in the first quarter. Principal Financial Group Inc. now owns 178,543 shares of the industrial products company’s stock valued at $11,670,000 after purchasing an additional 15,769 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of A. O. Smith by 18.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,085 shares of the industrial products company’s stock valued at $528,000 after purchasing an additional 1,251 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of A. O. Smith by 3.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,532 shares of the industrial products company’s stock valued at $363,000 after purchasing an additional 177 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new position in shares of A. O. Smith in the first quarter valued at approximately $1,146,000. Institutional investors own 76.10% of the company’s stock.

A. O. Smith Stock Performance

NYSE:AOS opened at $65.63 on Tuesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.54 and a quick ratio of 1.03. The business has a fifty day simple moving average of $70.96 and a two-hundred day simple moving average of $68.99. A. O. Smith Corporation has a 1 year low of $58.83 and a 1 year high of $77.92. The company has a market capitalization of $9.20 billion, a P/E ratio of 17.69, a P/E/G ratio of 1.43 and a beta of 1.30.

A. O. Smith (NYSE:AOS) last released its earnings results on Tuesday, October 28th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.05. A. O. Smith had a return on equity of 29.34% and a net margin of 13.85%.The business had revenue of $942.50 million during the quarter, compared to the consensus estimate of $946.33 million. During the same period last year, the business posted $0.82 earnings per share. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. A. O. Smith has set its FY 2025 guidance at 3.700-3.850 EPS. On average, analysts expect that A. O. Smith Corporation will post 3.76 earnings per share for the current year.

A. O. Smith Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Friday, October 31st will be given a $0.36 dividend. This is an increase from A. O. Smith’s previous quarterly dividend of $0.34. This represents a $1.44 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Friday, October 31st. A. O. Smith’s dividend payout ratio (DPR) is 38.81%.

Analyst Ratings Changes

A number of research firms have recently weighed in on AOS. Citigroup dropped their target price on A. O. Smith from $77.00 to $72.00 and set a “neutral” rating on the stock in a report on Wednesday, October 29th. UBS Group restated a “neutral” rating and issued a $76.00 target price (up previously from $74.00) on shares of A. O. Smith in a report on Monday, July 28th. Wall Street Zen upgraded A. O. Smith from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Stifel Nicolaus set a $80.00 target price on A. O. Smith and gave the company a “buy” rating in a report on Wednesday, October 29th. Finally, Robert W. Baird set a $76.00 price target on A. O. Smith in a research report on Wednesday, October 29th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, A. O. Smith currently has an average rating of “Hold” and a consensus target price of $77.00.

A. O. Smith Company Profile

A. O. Smith Corporation manufactures and markets residential and commercial gas and electric water heaters, boilers, heat pumps, tanks, and water treatment products in North America, China, Europe, and India. The company offers water heaters for residences, restaurants, hotels, office buildings, laundries, car washes, and small businesses; boilers for hospitals, schools, hotels, and other large commercial buildings, as well as homes, apartments, and condominiums; and water treatment products comprising point-of-entry water softeners, well water solutions, and whole-home water filtration products, and point-of-use carbon and reverse osmosis products for residences, restaurants, hotels, and offices.