Are Xerox’s Largest Institutional Shareholders More Optimistic About a Future Turnaround?
In 2012, Xerox Corp’s (NYSE:XRX) shares are down 1.63 percent. On Thursday at the Reuters Global Media and Technology Summit in New York, Chief Executive Ursula Burns remarked that small, tuck-in acquisitions and a growing services business will increase revenue and profit margins for the company as it tries to change its image from a printer and copier company.
Burns also has ruled out any major acquisitions similar to its 2009 purchase of Affiliated Computer Services Inc (ACS), which gave it entry into the outsourcing business and represented the largest deal in the company’s history.
She said of the future, “We have to grow this services business without doubt around it with continuous revenue growth and predictable margins…so that people see yeah they are really in this business.”
With comments about the future direction of the company, will Xerox’s largest shareholders increase their holdings? 549 institutional firms indicated owning shares of Xerox Corp. (NYSE:XRX) in Q1 2012. These firms reported owning a total of 1.116 billion shares on 03/31/2012. The shares closed at $8.08 on 03/31/2012.
Here are the ten largest positions in Xerox Corp. at the end of March 31st, 2012.
Dodge & Cox held 111,218,962 shares on 03/31/2012 worth $898,649,204. This brought the portfolio total to 1.15%.
Franklin Resources Inc held 99,827,540 shares on 03/31/2012 worth $806,606,516. This brought the portfolio total to 0.53%.
State Street Corp held 78,013,213 shares on 03/31/2012 worth $630,346,755. This brought the portfolio total to 0.1%.
Vanguard Group Inc held 55,237,824 shares on 03/31/2012 worth $446,321,614. This brought the portfolio total to 0.06%.
Allianz Asset Management of America L.P. held 40,695,867 shares on 03/31/2012 worth $328,822,602. This brought the portfolio total to 0.84%.
FMR LLC held 36,854,346 shares on 03/31/2012 worth $297,783,113. This brought the portfolio total to 0.05%.
Blackrock Institutional Trust Company N.A. held 34,857,563 shares on 03/31/2012 worth $281,649,106. This brought the portfolio total to 0.06%.
Ameriprise Financial Inc held 29,347,259 shares on 03/31/2012 worth $237,125,850. This brought the portfolio total to 0.17%.
Neuberger Berman Group LLC held 27,273,750 shares on 03/31/2012 worth $220,371,898. This brought the portfolio total to 0.29%.
Glenview Capital Management LLC held 24,936,694 shares on 03/31/2012 worth $201,488,486. This brought the portfolio total to 3.65%.
About the company: Xerox Corporation develops, manufactures, markets, services, and finances a range of document processing products and services for use in offices around the world. The Company also, through subsidiaries, provides network management, consulting, design, and integration services for medium and large companies.
Knowing which stocks have institutional support will help improve your investing skills, and teach you how to ride the waves of strong moves. In fact, “S = Support is Provided By Institutional Investors & Company Insiders” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute — click here and get our CHEAT SHEET stock picks now.