Wed Sep 25 07:13:03 UTC 2024: ## Bank of New York Mellon Cuts ATS Holdings, While Other Investors Show Interest
**New York, NY** – Bank of New York Mellon Corp has reduced its holdings in ATS Co. (NYSE:ATS) by 8.4% in the second quarter, according to the company’s latest SEC filing. This move comes amidst a mixed bag of activity from other institutional investors.
While Bank of New York Mellon trimmed its stake, several other hedge funds and institutional investors increased their positions in ATS. Notable among them are Norges Bank, JARISLOWSKY FRASER Ltd, TD Asset Management Inc, The Manufacturers Life Insurance Company, and ACK Asset Management LLC, all of whom significantly expanded their holdings in the fourth quarter.
ATS Co., a provider of automation solutions worldwide, has seen its stock fluctuate in recent months. The company’s stock opened at $29.68 on Wednesday, with a market cap of $2.91 billion.
Analyst opinions on ATS remain varied. Goldman Sachs Group lowered its price target to $30.00 and issued a “sell” rating, while JPMorgan Chase & Co. reduced its target to $31.00 but maintained a “neutral” rating. Overall, MarketBeat reports an average rating of “Hold” with a consensus price target of $42.00.
Despite the mixed signals, ATS remains a company of interest for investors, with 75.84% of its stock currently held by hedge funds and other institutional investors. This activity suggests continued interest in the company’s automation solutions despite recent market volatility.
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