Important 13DG Filing: Learn Why Davidson Kempner Partners Just Purchased Itc Holdings Corp Stake?

Important 13DG Filing: Learn Why Davidson Kempner Partners Just Purchased Itc Holdings Corp Stake?

The New Davidson Kempner Partners Holding in Itc Holdings Corp

Davidson Kempner Partners filed with the SEC SC 13G form for Itc Holdings Corp. The form can be accessed here: 000090266416008317. As reported in Davidson Kempner Partners’s form, the filler as of late owns 5.45% or 8,357,083 shares of the Utilities & Telecommunications–company.

Itc Holdings Corp stake is a new one for the and it was filed because of activity on September 28, 2016. We feel this shows Davidson Kempner Partners’s positive view for the stock.

Itc Holdings Corp Institutional Sentiment

Latest Security and Exchange filings show 313 investors own Itc Holdings Corp. The institutional ownership in Q3 2015 is very high, at 88.52% of the outstanding shares. This is decreased by 1398416 the total institutional shares. 135758830 were the shares owned by these institutional investors. In total 35 funds opened new Itc Holdings Corp stakes, 122 increased stakes. There were 39 that closed positions and 114 reduced them.

6 managers had the stock in their top Ten. Notable investors are: Magnetar Financial Llc, Halcyon Management Partners Lp, Empyrean Capital Partners Lp, Water Island Capital Llc, Alpine Associates Management Inc., Eton Park Capital Management L.P., Hallmark Capital Management Inc, Copeland Capital Management Llc, Capital Impact Advisors Llc, Vertex One Asset Management Inc…

St James Investment Company Llc is an institutional investor bullish on Itc Holdings Corp, owning 1508784 shares as of Q3 2015 for 6.20% of its portfolio. Princeton Portfolio Strategies Group Llc owns 182523 shares or 2.47% of its portfolio. NJ Reaves W H & Company Inc have 4.62% of their stock portfolio for 3559804 shares. Further, Bamco Inc reported stake worth 2.05% of its US stock portfolio. The VA Rdl Financial Inc owns 103050 shares. Itc Holdings Corp is 2.76% of the manager’s US portfolio.

Business Profile

ITC Holdings Corp. (ITC Holdings) is a holding company. The Company is engaged in owning, operating, maintaining and investing in transmission infrastructure. The Company’s business consists primarily of the electric transmission operations of its Regulated Operating Subsidiaries. Its Regulated Operating Subsidiaries include International Transmission Company (ITCTransmission), Michigan Electric Transmission Company, LLC (METC), ITC Midwest LLC (ITC Midwest). The operations performed by its Regulated Operating Subsidiaries fall into the various categories, such as asset planning; engineering, design and construction; maintenance, and real time operations. Its customers include investor-owned utilities, municipalities, cooperatives, power marketers and alternative energy suppliers. It owns and operates high-voltage systems in Michigan’s Lower Peninsula and portions of Iowa, Minnesota, Illinois, Missouri, Kansas and Oklahoma.

SEC Form 13G is required when the filer owns between (5% and 20%) of a company and plans to hold it only as a passive investor. In case the filler intend to exert control and the stake’s exceeds 20%, then 13D Form must be filed. These filings can NOT be a precursor to “change of control” events such as hostile takeovers, company breakups or others.

Insitutional Activity: The institutional sentiment increased to 0.73 in 2016 Q2. Its up 0.09, from 0.64 in 2016Q1. The ratio increased, as 49 funds sold all ITC Holdings Corp. shares owned while 115 reduced positions. 40 funds bought stakes while 79 increased positions. They now own 122.21 million shares or 0.62% less from 122.97 million shares in 2016Q1.

Brown Advisory holds 0% of its portfolio in ITC Holdings Corp. (NYSE:ITC) for 5,104 shares. Moreover, Tci Wealth Advsr has 0% invested in ITC Holdings Corp. (NYSE:ITC) for 121 shares. Virtu Financial Lc last reported 0.03% of its portfolio in the stock. Geode Mngmt Llc, a Massachusetts-based fund reported 948,999 shares. Blackrock Japan Communication last reported 4,273 shares in the company. Moreover, Janney Montgomery Scott Limited has 0.03% invested in ITC Holdings Corp. (NYSE:ITC) for 54,582 shares. Wells Fargo & Mn holds 0.01% of its portfolio in ITC Holdings Corp. (NYSE:ITC) for 427,820 shares. Caisse De Depot Et Placement Du Quebec holds 0.12% or 1.00 million shares in its portfolio. Alpine has 2.74M shares for 4.58% of their US portfolio. Lord Abbett & Co Limited Liability Corp owns 1.14 million shares or 0.17% of their US portfolio. Rhumbline Advisers accumulated 188,950 shares or 0.03% of the stock. Profund Limited Liability Com has invested 0.04% of its portfolio in ITC Holdings Corp. (NYSE:ITC). Teton Advsr accumulated 122,248 shares or 0.52% of the stock. State Of Alaska Department Of Revenue accumulated 0.12% or 23,781 shares. Addison Cap last reported 52,978 shares in the company.

Insider Transactions: Since April 29, 2016, the stock had 3 buys, and 4 selling transactions for $3.66 million net activity. Blair Linda H sold $1.21 million worth of stock or 27,246 shares. $1.05M worth of ITC Holdings Corp. (NYSE:ITC) shares were sold by Mason Soneral Christine. Welch Joseph L sold $1.02M worth of stock or 23,274 shares. Another trade for 21 shares valued at $971 was bought by Ernst Albert.

Analysts await ITC Holdings Corp. (NYSE:ITC) to report earnings on November, 3. They expect $0.57 EPS, up 7.55% or $0.04 from last year’s $0.53 per share. ITC’s profit will be $87.79M for 19.82 P/E if the $0.57 EPS becomes a reality. After $0.58 actual EPS reported by ITC Holdings Corp. for the previous quarter, Wall Street now forecasts -1.72% negative EPS growth.

The stock decreased 1.05% or $0.48 on October 7, hitting $45.19. About 870,051 shares traded hands. ITC Holdings Corp. (NYSE:ITC) has risen 7.74% since March 4, 2016 and is uptrending. It has underperformed by 0.30% the S&P500.

ITC Holdings Corp. is a holding company. The company has a market cap of $6.96 billion. The Firm is engaged in owning, operating, maintaining and investing in transmission infrastructure. It has a 29.36 P/E ratio. The Company’s business consists primarily of the electric transmission activities of its Regulated Operating Subsidiaries.

ITC Holdings Corp. (NYSE:ITC) Ratings Coverage

Out of 7 analysts covering ITC Holdings (NYSE:ITC), 2 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 29% are positive. $45.0 is the highest target while $32 is the lowest. The $39.83 average target is -11.86% below today’s ($45.19) stock price. ITC Holdings has been the topic of 12 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The stock has “Neutral” rating given by UBS on Wednesday, December 2. Citigroup initiated ITC Holdings Corp. (NYSE:ITC) rating on Friday, November 20. Citigroup has “Buy” rating and $36 price target. Wunderlich maintained ITC Holdings Corp. (NYSE:ITC) rating on Friday, July 31. Wunderlich has “Hold” rating and $34 price target. Argus Research downgraded ITC Holdings Corp. (NYSE:ITC) on Wednesday, December 2 to “Hold” rating. The stock of ITC Holdings Corp. (NYSE:ITC) earned “Hold” rating by Deutsche Bank on Tuesday, March 15. The rating was upgraded by Wunderlich to “Buy” on Friday, January 8. The rating was upgraded by Deutsche Bank on Monday, December 14 to “Buy”. The firm earned “Hold” rating on Friday, July 31 by Deutsche Bank. The stock of ITC Holdings Corp. (NYSE:ITC) has “Sell” rating given on Wednesday, September 30 by UBS. The stock of ITC Holdings Corp. (NYSE:ITC) earned “Hold” rating by Gabelli on Friday, February 26.

More important recent ITC Holdings Corp. (NYSE:ITC) news were published by: Prnewswire.com which released: “Fortis Inc. Acquisition of ITC Holdings Corp. Approved by Missouri Public …” on September 15, 2016, also Prnewswire.com published article titled: “Fortis Inc. and ITC Holdings Corp. Announce Expiration of Hart-Scott-Rodino …”, Prnewswire.com published: “ITC Shareholders Approve Fortis Inc. Acquisition of ITC Holdings Corp.” on June 22, 2016. More interesting news about ITC Holdings Corp. (NYSE:ITC) was released by: Seekingalpha.com and their article: “Fortis Inc.’s $11.3 Billion Bid For ITC Holdings Receives Regulatory Approval” with publication date: October 03, 2016.

According to Zacks Investment Research, “ITC Holdings Corp. is in the business of electricity transmission infrastructure improvements as a means to improve electric reliability, reduce congestion and lower the overall cost of delivered energy. Through ITC operating subsidiaries, ITCTransmission and METC, we are the only publicly traded company engaged exclusively in the transmission of electricity in the United States. We are also the largest independent electric transmission company and the eighth largest electric transmission company in the country based on transmission load served. Its business strategy is to operate, maintain and invest in our transmission infrastructure in order to enhance system integrity and reliability and to reduce transmission constraints. By pursuing this strategy, we seek to reduce the overall cost of delivered energy for end-use consumers by providing them with access to electricity from the lowest cost electricity generation sources.”

ITC Company Profile

ITC Holdings Corp. (ITC Holdings), incorporated on November 8, 2002, is a holding company. The Firm is engaged in owning, operating, maintaining and investing in transmission infrastructure. The Company’s business consists primarily of the electric transmission activities of its Regulated Operating Subsidiaries. The Company’s Regulated Operating Subsidiaries include International Transmission Company (ITCTransmission), Michigan Electric Transmission Company, LLC (METC), ITC Midwest LLC (ITC Midwest). The Company’s clients include investor-owned utilities, municipalities, cooperatives, power marketers and alternative energy suppliers. It owns and operates high-voltage systems in Michigan’s Lower Peninsula and portions of Iowa, Minnesota, Illinois, Missouri, Kansas and Oklahoma that transmit electricity from generating stations to local distribution facilities connected to its systems.

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