Wasatch Advisors Reports 6.4% Passive Stake In ICF, 1,152,147 Shares
Wasatch certifies in a Schedule 13G that it holds the ICF shares in the ordinary course and not to influence control.
Wasatch Advisors LP holds 1,152,147 shares of ICF International, or 6.4% of the class, according to a Schedule 13G, a passive ownership disclosure, filed Friday. The filing gives September 30 as the event date.
What the Schedule 13G says
Wasatch, an investment adviser based in Salt Lake City, has sole voting power over 814,915 of the shares. The filing lists no shared voting power.
The signed certification says the shares were acquired and are held in the ordinary course of business. It adds that they were not bought to change or influence control of ICF, and not in connection with any transaction with that purpose or effect.
That passive status is what separates this form from an activist investor disclosure.
Where the stock stands
ICF shares traded at $87.91 in Friday trading as of 3:36 p.m. ET, up 1.26% from the prior close of $86.82, according to market data. The company's market value was about $1.6 billion.
Separately, Zacks Equity Research upgraded its rating on ICF to #2 (Buy) this week, citing rising earnings estimates. Simply Wall St noted that ICF won two multiyear work orders worth up to about $70 million under a Los Angeles County energy services agreement, and that nonfederal business is a growing share of its revenue.
Of Wasatch's 1,152,147 ICF shares, 814,915 carry sole voting power, per the filing.
