Impax Asset Management Group plc Increases Position 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, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,614 shares of the company’s stock after buying 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.

Other large investors have also modified their holdings of the company. Capital International Investors raised its stake in shares of Marriott International by 4.7% during the first quarter. Capital International Investors now owns 3,296,879 shares of the company’s stock valued at $831,836,000 after acquiring an additional 149,378 shares in the last quarter. National Pension Service raised its stake in shares of Marriott International by 11.6% during the third quarter. National Pension Service now owns 719,613 shares of the company’s stock valued at $178,896,000 after acquiring an additional 74,832 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Marriott International by 5.1% during the second quarter. Dimensional Fund Advisors LP now owns 679,757 shares of the company’s stock valued at $164,355,000 after acquiring an additional 33,149 shares in the last quarter. First Pacific Advisors LP grew its holdings in Marriott International by 2.1% in the second quarter. First Pacific Advisors LP now owns 613,205 shares of the company’s stock worth $148,255,000 after purchasing an additional 12,499 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Marriott International by 0.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 566,548 shares of the company’s stock valued at $140,844,000 after buying an additional 2,723 shares during the last quarter. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Marriott International Stock Performance

Marriott International stock 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. Marriott International, Inc. has a fifty-two week low of $200.94 and a fifty-two week high of $289.04. The company has a market capitalization of $77.47 billion, a PE ratio of 29.16, a price-to-earnings-growth ratio of 5.63 and a beta of 1.58.

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

Marriott International Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MAR. BMO Capital Markets boosted their price objective on shares of Marriott International from $255.00 to $265.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. TD Cowen dropped their price objective on shares of Marriott International from $295.00 to $283.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Macquarie reaffirmed a “neutral” rating and issued a $245.00 price target on shares of Marriott International in a report on Tuesday, November 5th. Truist Financial lowered their price target on shares of Marriott International from $263.00 to $254.00 and set a “hold” rating on the stock in a report on Tuesday, August 6th. Finally, Morgan Stanley decreased their price objective on shares of Marriott International from $268.00 to $250.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $259.00.

Insider Buying and Selling at Marriott International

In other news, EVP Benjamin T. Breland sold 500 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $274.49, for a total value of $137,245.00. Following the completion of the sale, the executive vice president now owns 12,286 shares in the company, valued at approximately $3,372,384.14. This trade represents a 3.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kathleen K. Oberg sold 2,360 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $285.41, for a total transaction of $673,567.60. Following the completion of the transaction, the chief financial officer now owns 39,726 shares of the company’s stock, valued at $11,338,197.66. This represents a 5.61 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,108 shares of company stock valued at $3,434,439. 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.