Advisors Preferred LLC Expands Investment in Maximus, Inc.

Advisors Preferred LLC has made a significant investment in Maximus, Inc. (NYSE:MMS), acquiring a new position during the first quarter of 2023. The firm purchased 57,626 shares of the health services provider, valued at approximately $3.96 million. As of the latest filing with the Securities and Exchange Commission (SEC), Advisors Preferred LLC holds about 0.10% of Maximus.

This investment follows a trend among large institutional investors, with several other firms also increasing their stakes in Maximus. Notably, Norges Bank acquired a new stake valued at around $71.4 million during the fourth quarter of 2022. Additionally, SG Capital Management LLC purchased a stake worth approximately $30.3 million in the same period. Federated Hermes Inc. significantly expanded its holdings in Maximus, increasing its position by 74.8% during the fourth quarter, now owning 882,953 shares valued at about $65.9 million after buying an additional 377,705 shares.

Reinhart Partners LLC also grew its stake in Maximus by 65.4% in the first quarter of 2023, now holding 911,511 shares valued at approximately $62.2 million. Overall, institutional and hedge fund investors own 97.21% of Maximus stock, indicating strong confidence in the company’s future.

Insider Transactions and Stock Performance

In related news, on May 30, 2023, Director Gayathri Rajan sold 7,913 shares of Maximus at an average price of $72.38, totaling nearly $572,743. Following this transaction, Rajan’s direct ownership in the company decreased to 14,205 shares, valued at approximately $1.03 million. This transaction was formally disclosed in a filing with the SEC, which is publicly accessible.

Maximus stock opened at $71.67 on Wednesday, reflecting a slight increase of 0.9%. The company has a market capitalization of $4.04 billion, a price-to-earnings ratio of 14.25, and a beta of 0.61. It has a quick ratio and current ratio of 1.84 each, alongside a debt-to-equity ratio of 0.87. The stock has experienced a 52-week low of $63.77 and a high of $93.97.

Maximus recently reported its quarterly earnings on May 8, 2023, revealing earnings per share (EPS) of $2.01, exceeding analysts’ expectations of $1.37 by $0.64. The company achieved a revenue of $1.36 billion, surpassing forecasts of $1.29 billion. Maximus posted a net margin of 5.56% and a return on equity of 23.37%, with a 1.0% increase in quarterly revenue compared to the same period last year.

Dividend Announcement and Company Overview

In addition to its strong financial performance, Maximus declared a quarterly dividend of $0.30 per share, which will be payable on August 31, 2023. Shareholders on record as of August 15, 2023, will receive this dividend, equating to an annualized dividend of $1.20 and a yield of 1.67%. The company’s dividend payout ratio currently stands at 23.86%.

Maximus, Inc. operates as a provider of government services both in the United States and internationally. The company is structured into three segments: U.S. Federal Services, U.S. Services, and Outside the U.S. Its U.S. Services segment offers comprehensive program eligibility support, centralized customer contact centers, and various health assessments.

For those interested in the latest movements of hedge funds and institutional investors regarding Maximus, comprehensive data is available through HoldingsChannel.com, where recent filings and insider transactions can be monitored.