BlackRock Inc. Ups Stake in World Fuel Services Corp (INT)

Fintel reports that BlackRock Inc. has filed a 13G/A form with the SEC disclosing ownership of 11,956,112 shares of World Fuel Services Corp (INT). This represents 19.3% of the company.

In their previous filing dated January 27, 2022 they reported 10,580,580 shares and 16.70% of the company, an increase in shares of 13.00% and an increase in total ownership of 2.60% (calculated as current - previous percent ownership).

Analyst Price Forecast Suggests 19.23% Upside

As of January 14, 2023, the average one-year price target for World Fuel Services is $33.66. The forecasts range from a low of $31.31 to a high of $36.75. The average price target represents an increase of 19.23% from its latest reported closing price of $28.23.

The projected annual revenue for World Fuel Services is $50,721MM, a decrease of -7.96%. The projected annual EPS is $2.41, an increase of 38.68%.

Fund Sentiment

There are 550 funds or institutions reporting positions in World Fuel Services Corp. This is a decrease of 9 owner(s) or 1.61%.

Average portfolio weight of all funds dedicated to World Fuel Services Corp is 0.1532%, an increase of 8.9547%. Total shares owned by institutions decreased in the last three months by 1.97% to 63,779,596 shares.

What are large shareholders doing?

Boston Partners holds 1,998,749 shares representing 3.23% ownership of the company. In it's prior filing, the firm reported owning 2,036,199 shares, representing a decrease of 1.87%. The firm increased its portfolio allocation in INT by 11.29% over the last quarter.

Invesco Ltd. holds 1,923,493 shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 1,525,730 shares, representing an increase of 20.68%. The firm decreased its portfolio allocation in INT by 85.79% over the last quarter.

Principal Financial Group Inc holds 1,586,942 shares representing 2.56% ownership of the company. In it's prior filing, the firm reported owning 1,499,861 shares, representing an increase of 5.49%. The firm increased its portfolio allocation in INT by 30.20% over the last quarter.

Millennium Management Llc holds 1,371,780 shares representing 2.22% ownership of the company. In it's prior filing, the firm reported owning 37,419 shares, representing an increase of 97.27%. The firm increased its portfolio allocation in INT by 3,901.34% over the last quarter.

Lsv Asset Management holds 1,249,133 shares representing 2.02% ownership of the company. In it's prior filing, the firm reported owning 1,274,133 shares, representing a decrease of 2.00%. The firm increased its portfolio allocation in INT by 22.04% over the last quarter.

World Fuel Services Declares $$0.14 Dividend

World Fuel Services said on September 13, 2022 that its board of directors declared a regular quarterly dividend of $0.14 per share. Shareholders of record as of September 22, 2022 received the payment on October 7, 2022. Previously, the company paid $0.12 per share.

At the most recent share price of $28.23 / share, the stock's dividend yield is 0.50%. Additionally, the company's dividend payout ratio is 0.32, indicating it is retaining a low percentage of its earnings to reinvest in growth opportunities.

The company's 3-Year dividend growth rate is 0.40%, demonstrating that it consistently increased its dividends over time.

World Fuel Services Corp. Background Information
(This description is provided by the company.)

Headquartered in Miami, Florida, World Fuel Services is a global energy management company involved in providing energy procurement advisory services, supply fulfillment and transaction and payment management solutions to commercial and industrial customers, principally in the aviation, marine and land transportation industries. World Fuel Services sells fuel and delivers services to its clients at more than 8,000 locations in more than 200 countries and territories worldwide.

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.