Impax Asset Management Group plc Boosts Holdings in Marriott International, Inc. (NASDAQ:MAR)

Impax Asset Management Group plc raised its holdings in shares of Marriott International, Inc. (NASDAQ:MAR) by 3.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 31,614 shares of the company’s stock after purchasing an additional 930 shares during the period. Impax Asset Management Group plc’s holdings in Marriott International were worth $7,859,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in MAR. Bangor Savings Bank raised its position in shares of Marriott International by 131.1% in the second quarter. Bangor Savings Bank now owns 104 shares of the company’s stock valued at $25,000 after buying an additional 59 shares during the last quarter. Hantz Financial Services Inc. acquired a new position in shares of Marriott International in the second quarter valued at approximately $26,000. MFA Wealth Advisors LLC purchased a new stake in Marriott International in the second quarter valued at approximately $28,000. Silvant Capital Management LLC purchased a new stake in Marriott International in the third quarter valued at approximately $31,000. Finally, Unique Wealth Strategies LLC purchased a new stake in Marriott International in the second quarter valued at approximately $35,000. 70.70% of the stock is currently owned by hedge funds and other institutional investors.

Marriott International Stock Down 1.1 %

Shares of MAR opened at $278.78 on Friday. The firm has a 50-day moving average price of $255.57 and a 200 day moving average price of $241.46. The firm has a market capitalization of $77.47 billion, a PE ratio of 29.16, a P/E/G ratio of 5.63 and a beta of 1.58. Marriott International, Inc. has a 52-week low of $200.94 and a 52-week high of $289.04.

Marriott International (NASDAQ:MAR) last announced its earnings results on Monday, November 4th. The company reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.05). The company had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.27 billion. Marriott International had a net margin of 11.18% and a negative return on equity of 177.91%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.11 EPS. On average, equities analysts expect that Marriott International, Inc. will post 9.26 EPS for the current year.

Marriott International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Thursday, November 21st will be given a dividend of $0.63 per share. The ex-dividend date is Thursday, November 21st. This represents a $2.52 annualized dividend and a dividend yield of 0.90%. Marriott International’s dividend payout ratio (DPR) is 26.36%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MAR. UBS Group lowered their target price on shares of Marriott International from $267.00 to $244.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. The Goldman Sachs Group began coverage on shares of Marriott International in a research note on Wednesday, September 18th. They set a “buy” rating and a $267.00 price objective for the company. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Marriott International from $222.00 to $216.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. Macquarie reissued a “neutral” rating and set a $245.00 target price on shares of Marriott International in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Marriott International from $235.00 to $255.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $259.00.

Insider Activity

In other Marriott International news, CAO Felitia Lee sold 916 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $276.48, for a total transaction of $253,255.68. Following the completion of the sale, the chief accounting officer now directly owns 5,609 shares of the company’s stock, valued at approximately $1,550,776.32. This represents a 14.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Benjamin T. Breland sold 500 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $274.49, for a total transaction of $137,245.00. Following the completion of the sale, the executive vice president now directly owns 12,286 shares of the company’s stock, valued at $3,372,384.14. This trade represents a 3.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,108 shares of company stock worth $3,434,439. Corporate insiders own 12.32% of the company’s stock.

About Marriott International

Marriott International, Inc engages in operating, franchising, and licensing hotel, residential, timeshare, and other lodging properties worldwide. It operates its properties under the JW Marriott, The Ritz-Carlton, The Luxury Collection, W Hotels, St. Regis, EDITION, Bvlgari, Marriott Hotels, Sheraton, Westin, Autograph Collection, Renaissance Hotels, Le Méridien, Delta Hotels by Marriott, Tribute Portfolio, Gaylord Hotels, Design Hotels, Marriott Executive Apartments, Apartments by Marriott Bonvoy, Courtyard by Marriott, Fairfield by Marriott, Residence Inn by Marriott, SpringHill Suites by Marriott, Four Points by Sheraton, TownePlace Suites by Marriott, Aloft Hotels, AC Hotels by Marriott, Moxy Hotels, Element Hotels, Protea Hotels by Marriott, City Express by Marriott, and St.