Federal Reserve Chairman Jerome Powell sidestepped a verbal hand grenade in his Congressional testimony on Tuesday.
Sen. John Kennedy, R-LA, asked Powell where he stood on recent trial balloons to restrict the ability of corporations to buy back stock. Powell reflected for a moment and said that the allocation of capital has always been left to the private sector and "I would want to understand the consequences of changing that."
It was a perfect answer to a politically divisive question. After buying back more than $900 billion in 2018, a record, corporations have shown no signs of slowing down in 2019, which has already seen $190 billion in announced buybacks, according to The New York Times.
Home Depot, in addition to providing disappointing 2019 guidance, announced Tuesday a massive $15 billion stock buyback, which if fully implemented and not diluted with additional stock options would reduce the shares outstanding by about 7 percent.
Top 5 Casino Stocks To Buy For 2021: New Residential Investment Corp.(NRZ)
New Residential Investment Corp., a real estate investment trust, focuses on investing in and managing residential mortgage related assets in the United States. It operates through Servicing Related Assets, Residential Securities and Loans, and Other Investments segments. The company invests in excess mortgage servicing rights (MSRs) on residential mortgage loans; and in servicer advances, including the basic fee component of the related MSRs. It also acquires and manages a diversified portfolio of credit sensitive real estate securities, such as non-agency and agency residential mortgage backed securities; and acquires residential mortgage loans comprising performing, non-performing, re-performing, and reverse mortgage loans. In addition, the company has an interest in a portfolio of consumer loans, including unsecured and homeowner loans. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was founded in 2011 and is based in New York, New York.
Shares of New Residential Investment Corp (NYSE:NRZ) have been given an average recommendation of “Buy” by the ten analysts that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $18.87. Royal Bank of Canada boosted its stake in shares of New Residential Investment Corp (NYSE:NRZ) by 144.9% in the first quarter, HoldingsChannel reports. The institutional investor owned 831,287 shares of the real estate investment trust’s stock after purchasing an additional 491,807 shares during the period. Royal Bank of Canada’s holdings in New Residential Investment were worth $13,675,000 at the end of the most recent quarter. New Residential Investment (NYSE: NRZ) and Paramount Group (NYSE:PGRE) are both mid-cap finance companies, but which is the superior investment? We will contrast the two companies based on the strength of their earnings, profitability, analyst recommendations, dividends, institutional ownership, valuation and risk. New Residential Investment Corp (NYSE:NRZ) CEO Michael Nierenberg sold 339,177 shares of New Residential Investment stock in a transaction dated Tuesday, June 26th. The stock was sold at an average price of $18.30, for a total value of $6,206,939.10. Following the completion of the transaction, the chief executive officer now owns 2,085,352 shares in the company, valued at approximately $38,161,941.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Royal Bank of Canada grew its position in ClearBridge Energy MLP Fund Inc (NYSE:CEM) by 1.8% during the first quarter, HoldingsChannel reports. The institutional investor owned 627,319 shares of the investment management company’s stock after acquiring an additional 10,949 shares during the quarter. Royal Bank of Canada’s holdings in ClearBridge Energy MLP Fund were worth $7,898,000 as of its most recent SEC filing. WSB Holdings, Inc. operates as the holding company for The Washington Savings Bank, F.S.B. that provides various commercial banking products and services to middle income individuals, and small and middle income businesses in the United States. The company accepts various deposits, including consumer, small business, and commercial demand deposit accounts, as well as interest-bearing checking accounts, money market accounts, regular savings accounts, certificates of deposit, and retirement savings plans It also originates first and second mortgage loans, land acquisition and development loans, commercial loans, construction loans, and consumer loans, as well as non-residential mortgage loans with emphasis on residential mortgage, and commercial and construction lending. In addition, the company involves in developing single family residential lots, as well as builds homes on certain lots on a contract basis. The company has five savings branches in Bowie, Waldorf, Crofton , Millersville, and Odenton in Maryland. WSB Holdings, Inc. was founded in 1982 and is based in Bowie, Maryland. Markets have been under pressure once again by the U.S. Federal Reserve. Inflation levels are going through the roof… but the people in charge of managing it have been lying to Americans for years. Now it's time to get even. Money Morning Liquidity Specialist Lee Adler has the perfect way to make a lot of money when no one is looking. Read it here. The Gorman-Rupp Company, incorporated on April 18, 1934, designs, manufactures and sells pumps and pump systems. The Company offers its products for use in dewatering; petroleum original equipment; agriculture; fire protection; heating, ventilating and air conditioning (HVAC); military, and other liquid-handling applications. The Company operates in the manufacture and international sale of pumps and pump systems segment. The Company's product line consists of pump models ranging in size from 0.25 to 15 feet, and ranging in rated capacity from 1 gallon per minute to 1 million gallons per minute. The Company produces various types of pumps, which include self-priming centrifugal, standard centrifugal, magnetic drive centrifugal, axial and mixed flow, vertical turbine line shaft, submersible, high pressure booster, rotary gear, diaphragm, bellows and oscillating. The Company's larger pumps are sold for use in the construction, industrial, water and wastewater handling fields; for flood control; for boosting low residential water pressure, and for pumping refined petroleum products, including the ground refueling of aircraft, and for various agricultural purposes. The Company supplies pumps, which have drives ranging from 0.028 horsepower electric motors to larger electric motors or internal combustion engines capable of producing several thousand horsepower. The Company's pumps are also utilized for dewatering purposes. In addition, the pumps manufactured for fire protection are used for sprinkler back-up systems, fire hydrants, stand pipes, fog systems and deluge systems at hotels, banks, factories, airports, schools, public buildings and various types of facilities around the world. Its small pumps are sold to customers, such as food processing, chemical processing, photo processing, medical and other waste treatment, appliances and solar heating. The Company's pumps are marketed in the United States and around the world through a network of over 1,000 distributors; through m! anufacturers' representatives (for sales to many original equipment manufacturers); through third-party distributor catalogs, and by direct sales. The Company's production operations consist of the machining of castings; the cutting, shaping and welding of bar stock and structural members; the design and assembly of electrical control panels; the manufacture of a few minor components, and the assembling, painting and testing of its products. The Company owns a facility in Dallas, Texas that consists of a training center and warehouse. GridCoin (GRC) is a DPoR coin that uses the ProofofResearch hashing algorithm. Its genesis date was November 3rd, 2013. GridCoin’s total supply is 390,312,753 coins. The official message board for GridCoin is cryptocurrencytalk.com/forum/464-gridcoin-grc. The Reddit community for GridCoin is /r/gridcoin and the currency’s Github account can be viewed here. The official website for GridCoin is www.gridcoin.us. GridCoin’s official Twitter account is @GridcoinNetwork and its Facebook page is accessible here. Gorman-Rupp Co (NYSE:GRC) Director Christopher H. Lake sold 2,000 shares of the firm’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $36.69, for a total value of $73,380.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Pegasystems Inc. develops, markets, licenses, and supports software to automate complex and changing business processes in the United States and internationally. It provides Pega 7, a unified platform that enables clients to build enterprise applications; and software applications for marketing, sales and on boarding, customer service and support, and operations, as well as industry-specific business processes. The company also offers customer relationship management applications, including Pega Marketing to manage customer relationships across inbound and outbound channels; Pega Customer Service to deliver consistent interactions across channels, improve employee productivity, and adapt changing business requirements; Pega Sales Automation to capture practices and guides sales teams through the sales and customer on boarding processes; and operations applications to support exceptions and investigations, order fulfillment, claims processing, insurance underwriting, and product development, as well as risk, fraud, and compliance management. In addition, it provides Pega Cloud to create and deploy its software applications using an Internet-based infrastructure; consulting and implementation support, technical support, and hosting services; and instructor-led and online training courses for process architects, system architects, and system administrators under the PegaACADEMY name. The company primarily markets its software and services to financial services, healthcare, insurance, communications and media, public sector, manufacturing, life sciences, and other markets through a direct sales force, as well as through a network of business and technology alliances. Pegasystems Inc. was founded in 1983 and is headquartered in Cambridge, Massachusetts. First Trust Advisors LP grew its position in shares of Pegasystems Inc. (NASDAQ:PEGA) by 1,661.6% in the 4th quarter, Holdings Channel reports. The fund owned 147,781 shares of the technology company’s stock after buying an additional 139,392 shares during the quarter. First Trust Advisors LP’s holdings in Pegasystems were worth $7,068,000 at the end of the most recent quarter. Pegasystems (NASDAQ:PEGA) stock outpaced the market last month, when it gained 17% compared to a 3% rise in the S&P 500, according to data provided by S&P Global Market Intelligence. Pegasystems (NASDAQ:PEGA) just closed out a fiscal year that was warped by a dramatic shift in its business model. The stampede by the software specialist's clients toward cloud-based and subscription services pressured reported sales and profits. But it also put the company in a good position to generate predictable, growing cash flow in the years to come.Top 5 Casino Stocks To Buy For 2021: ClearBridge Energy MLP Fund Inc.(CEM)
ClearBridge Energy MLP Fund Inc. (the Fund) is a non-diversified closed-end management investment company. The Fund's investment objective is to provide a high level of total return with focus on cash distributions. The Fund focuses on achieving its objective by investing primarily in master limited partnerships (MLPs) in the energy sector. The Fund considers an entity to be within the energy sector if it derives at least 50% of its revenues from the business of exploring, developing, producing, gathering, transporting, processing, storing, refining, distributing, mining or marketing natural gas, natural gas liquids, crude oil, refined petroleum products or coal. The Fund's portfolio includes investments in MLPs in various areas, such as diversified energy infrastructure, global infrastructure, oil/refined products, liquids transportation and storage, and shipping. Legg Mason Partners Fund Advisor, LLC is the Fund's investment manager and ClearBridge Advisors, LLC is its sub advisor. Advisors' Opinion: Top 5 Casino Stocks To Buy For 2021: WSB Holdings Inc.(WSB)
Top 5 Casino Stocks To Buy For 2021: Gorman-Rupp Company (GRC)
Top 5 Casino Stocks To Buy For 2021: Pegasystems Inc.(PEGA)
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