--- title: "Korea Investment CORP Invests $32.08 Million in Fortis $FTS" type: "News" locale: "en" url: "https://longbridge.com/en/news/296698354.md" description: "Korea Investment CORP purchased a new position in Fortis (NYSE:FTS), acquiring 560,211 shares valued at approximately $32.08 million during the second quarter, according to its SEC 13F filing. This represents about 0.11% of the company. Other institutional investors also adjusted their stakes in Fortis recently. Additionally, Fortis reported quarterly earnings of $0.56 per share, beating estimates, and announced a quarterly dividend of $0.64 per share." datetime: "2026-08-23T09:44:57.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/296698354.md) - [en](https://longbridge.com/en/news/296698354.md) - [zh-HK](https://longbridge.com/zh-HK/news/296698354.md) generator: "portal-rs" --- # Korea Investment CORP Invests $32.08 Million in Fortis $FTS Korea Investment CORP purchased a new position in shares of Fortis (NYSE:FTS - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 560,211 shares of the utilities provider's stock, valued at approximately $32,083,000. Korea Investment CORP owned about 0.11% of Fortis at the end of the most recent reporting period. Several other institutional investors have also recently bought and sold shares of the business. Trust Co. of Vermont bought a new position in Fortis in the 2nd quarter valued at $26,000. Scarborough Advisors LLC bought a new stake in shares of Fortis during the first quarter worth $29,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Fortis during the fourth quarter worth $34,000. Towarzystwo Funduszy Inwestycyjnych PZU SA increased its stake in shares of Fortis by 157.4% in the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 700 shares of the utilities provider's stock valued at $36,000 after buying an additional 428 shares in the last quarter. Finally, Larson Financial Group LLC increased its stake in shares of Fortis by 123.9% in the third quarter. Larson Financial Group LLC now owns 739 shares of the utilities provider's stock valued at $37,000 after buying an additional 409 shares in the last quarter. Institutional investors own 57.77% of the company's stock. ## Analyst Upgrades and Downgrades A number of research analysts recently issued reports on the company. Royal Bank Of Canada lifted their price target on Fortis from $80.00 to $89.00 and gave the company a "sector perform" rating in a report on Monday, August 3rd. Barclays lowered their price objective on shares of Fortis from $61.00 to $60.00 and set an "overweight" rating for the company in a research report on Monday, August 3rd. Wolfe Research set a $50.00 target price on shares of Fortis in a research note on Tuesday, August 4th. Scotiabank reiterated a "sector perform" rating on shares of Fortis in a research report on Tuesday, August 4th. Finally, Wall Street Zen lowered shares of Fortis from a "hold" rating to a "sell" rating in a research report on Saturday, May 23rd. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $66.33. **View Our Latest Research Report on FTS** ## Fortis Stock Down 2.3% NYSE FTS opened at $54.94 on Friday. The stock has a market capitalization of $28.07 billion, a P/E ratio of 22.24 and a beta of 0.43. Fortis has a 52 week low of $48.64 and a 52 week high of $59.40. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.47 and a current ratio of 0.56. The stock has a fifty day moving average of $57.12 and a 200-day moving average of $56.58. Fortis (NYSE:FTS - Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.01. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.83 billion. Fortis had a return on equity of 7.16% and a net margin of 14.17%.During the same quarter in the prior year, the firm posted $0.76 earnings per share. On average, equities research analysts forecast that Fortis will post 2.56 EPS for the current year. ## Fortis Dividend Announcement The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 19th will be issued a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Wednesday, August 19th. Fortis's payout ratio is currently 73.68%. ## Fortis Profile (Free Report) Fortis Inc is a Canadian diversified electric and gas utility holding company headquartered in St. John's, Newfoundland and Labrador. Through a portfolio of regulated utility subsidiaries, the company develops, owns and operates electricity and natural gas transmission, distribution and generation assets. Fortis serves customers across multiple jurisdictions in Canada, the United States and the Caribbean, focusing on the delivery of safe, reliable energy to residential, commercial and industrial users. The company's core activities include operation and maintenance of transmission and distribution networks, ownership of generation facilities, and investment in grid modernization and system resilience. ## See Also - Five stocks we like better than Fortis - 2 Biotech Stocks Shaping Up for Major Breakouts - 3 Stocks Came Roaring Back—Now They’re Flashing Warning Signs - 3 Beaten-Down Stocks That Haven’t Gotten the Message About the S&P 500’s Record Run - Darden Restaurants Just Hit a 52-Week High–Is the Olive Garden Comeback Story Legit? **Want to see what other hedge funds are holding FTS?** Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fortis (NYSE:FTS - Free Report). *This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.* Continue following MarketBeat Add MarketBeat as your preferred source on Google to see our latest stories in your feed. Add As Preferred Source ## Should You Invest $1,000 in Fortis Right Now? Before you consider Fortis, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Fortis wasn't on the list. While Fortis currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys. 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