Todays Report: The Kanawha Capital Management LLC decides to keep it stake in EMC Corp. (EMC) to the level of $5,851,000

The Kanawha Capital Management LLC decides to keep it stake in EMC Corp. (EMC) to the level of $5,851,000

Kanawha Capital Management LLC cut its stake in shares of EMC Corp. (NYSE:EMC) by 3.2% during the second quarter, Holdings Channel reports. The firm owned 215,332 shares of the information technology service provider’s stock after selling 7,087 shares during the period. Kanawha Capital Management LLC’s holdings in EMC Corp. were worth $5,851,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. York Capital Management Global Advisors LLC boosted its stake in EMC Corp. by 30.4% in the first quarter. York Capital Management Global Advisors LLC now owns 11,013,526 shares of the information technology service provider’s stock valued at $293,510,000 after buying an additional 2,567,922 shares during the period. National Pension Service boosted its stake in EMC Corp. by 4.2% in the first quarter. National Pension Service now owns 1,072,430 shares of the information technology service provider’s stock valued at $28,580,000 after buying an additional 42,887 shares during the period. Samlyn Capital LLC purchased a new stake in EMC Corp. during the first quarter valued at $79,006,000. ING Groep NV boosted its stake in EMC Corp. by 28.1% in the second quarter. ING Groep NV now owns 3,154,961 shares of the information technology service provider’s stock valued at $85,720,000 after buying an additional 692,916 shares during the period. Finally, Whitebox Advisors LLC boosted its stake in EMC Corp. by 25.3% in the second quarter. Whitebox Advisors LLC now owns 1,914,856 shares of the information technology service provider’s stock valued at $52,027,000 after buying an additional 387,000 shares during the period. 79.86% of the stock is owned by institutional investors and hedge funds.

Shares of EMC Corp. (NYSE:EMC) remained flat at $29.05 on Friday. EMC Corp. has a 52-week low of $22.99 and a 52-week high of $29.13. The firm’s 50 day moving average is $28.52 and its 200-day moving average is $27.28.

EMC Corp. (NYSE:EMC) last posted its earnings results on Monday, July 18th. The information technology service provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. EMC Corp. had a net margin of 8.55% and a return on equity of 11.98%. The business had revenue of $6 billion for the quarter, compared to analysts’ expectations of $6 billion. During the same period in the previous year, the company posted $0.43 earnings per share. The business’s revenue for the quarter was up .3% compared to the same quarter last year. On average, analysts anticipate that EMC Corp. will post $1.84 earnings per share for the current fiscal year.

EMC has been the subject of a number of research analyst reports. Drexel Hamilton reaffirmed a “buy” rating on shares of EMC Corp. in a research report on Sunday, July 24th. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of EMC Corp. in a research report on Thursday, September 8th. Deutsche Bank AG increased their price objective on shares of EMC Corp. from $27.00 to $29.00 and gave the stock a “hold” rating in a research report on Thursday, August 25th. Zacks Investment Research cut shares of EMC Corp. from a “buy” rating to a “hold” rating in a research report on Monday, June 20th. Finally, Argus reaffirmed a “hold” rating on shares of EMC Corp. in a research report on Friday, July 22nd. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and seven have issued a buy rating to the company. EMC Corp. presently has an average rating of “Hold” and an average target price of $30.84.

About EMC Corp.

EMC Corporation (EMC) develops, delivers and supports the information technology (IT) industry’s range of information infrastructure and virtual infrastructure technologies, solutions and services. EMC manages the Company as part of a federation of businesses: EMC Information Infrastructure, VMware Virtual Infrastructure, Pivotal and Virtustream.

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