Bank of New York Mellon Corp Sells 5,487 Shares of Charles River Associates $CRAI

Bank of New York Mellon Corp lessened its stake in shares of Charles River Associates (NASDAQ:CRAI) by 11.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,547 shares of the business services provider’s stock after selling 5,487 shares during the period. Bank of New York Mellon Corp owned 0.63% of Charles River Associates worth $7,785,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp bought a new position in Charles River Associates during the first quarter valued at $27,000. Strs Ohio purchased a new position in Charles River Associates in the first quarter worth about $329,000. Quantbot Technologies LP bought a new stake in Charles River Associates during the first quarter worth approximately $360,000. Jump Financial LLC purchased a new stake in Charles River Associates during the first quarter valued at approximately $628,000. Finally, Arkadios Wealth Advisors lifted its stake in shares of Charles River Associates by 4.4% in the 2nd quarter. Arkadios Wealth Advisors now owns 4,253 shares of the business services provider’s stock valued at $797,000 after purchasing an additional 180 shares during the last quarter. 84.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Barrington Research boosted their price objective on shares of Charles River Associates from $235.00 to $239.00 and gave the company an “outperform” rating in a research report on Monday, November 3rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Charles River Associates in a report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Charles River Associates from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $239.00.

Charles River Associates Stock Performance

Shares of CRAI opened at $173.72 on Friday. The company has a 50 day moving average price of $189.73 and a 200-day moving average price of $188.30. Charles River Associates has a fifty-two week low of $152.57 and a fifty-two week high of $214.66. The stock has a market capitalization of $1.14 billion, a PE ratio of 21.03, a PEG ratio of 1.39 and a beta of 0.93.

Charles River Associates (NASDAQ:CRAI) last posted its earnings results on Thursday, October 30th. The business services provider reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.26. Charles River Associates had a return on equity of 25.51% and a net margin of 7.93%.The company had revenue of $185.89 million for the quarter, compared to analyst estimates of $179.42 million. Charles River Associates has set its FY 2025 guidance at EPS. Equities research analysts forecast that Charles River Associates will post 7.52 EPS for the current year.

Charles River Associates Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Tuesday, November 25th will be issued a $0.57 dividend. This is an increase from Charles River Associates’s previous quarterly dividend of $0.49. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, November 25th. Charles River Associates’s dividend payout ratio is 27.40%.

Charles River Associates Company Profile

CRA International, Inc, together with its subsidiaries, provides economic, financial, and management consulting services worldwide. It advises clients on economic and financial matters pertaining to litigation and regulatory proceedings; and guides corporations through business strategy and performance-related issues.