Pioneer Investment Management sold shares of the following stocks during the fourth quarter of 2019.
Linde
The guru trimmed the Linde PLC (LIN) position by 24.61%. The portfolio was impacted by -0.53%.
The gas supplier has a market cap of $113.80 billion and an enterprise value of $127.5 billion.
GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 4.55% and return on assets of 2.58% is underperforming 62% of companies in the chemicals services industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 0.19 is below the industry median of 0.61.
Pioneer Investments (Trades, Portfolio) is the largest guru shareholder with 1.02% of outstanding shares, followed by Sarah Ketterer (Trades, Portfolio)’s Causeway Capital Management with 0.86% and Dodge & Cox with 0.80%.
AT&T
The investor curbed his AT&T Inc. (T) position by 21.19%. The portfolio was impacted by -0.23%.
The wireless carrier has a market cap of $272 billion and an enterprise value of $463 billion.
GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of 7.55% and return on assets of 2.55% are outperforming 53% of companies in the telecommunication services industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.07 is below the industry median of 0.27.
Pioneer Investments (Trades, Portfolio) is the largest guru shareholder with 0.21% of outstanding shares, followed by Paul Singer (Trades, Portfolio) with 0.07% and Barrow, Hanley, Mewhinney & Strauss with 0.06%.
Celgene
The investment firm closed its Celgene Corp. (CELG) holding. The portfolio was impacted by -0.17%.
The biopharmaceutical firm has a market cap of $77.04 billion and an enterprise value of $85.93 billion.
GuruFocus gives the company a profitability and growth rating of 9 out of 10. The return on equity of 71.15% and the return on assets of 15.65% are outperforming 91% of companies in the drug manufacturers industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.55 is below the industry median of 0.95.
H&R Block
The guru curbed its H&R Block Inc. (HRB) position by 91.34%. The trade had an impact of -0.15% on the portfolio.
The provider of income tax return services has a market cap of $4.46 billion and an enterprise value of $6.33 billion.
GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 403.79% and return on assets of 14.79% are outperforming 89% of companies in the personal services industry. Its financial strength is rated 4 out of 10 with a cash-debt ratio of 0.12.
The company's largest guru shareholders include First Eagle Investment (Trades, Portfolio) with 2.87% of outstanding shares, Mario Gabelli (Trades, Portfolio)’s GAMCO Investors with 0.43% and Pioneer Investments (Trades, Portfolio) with 0.21%.
Tiffany
The investor cut its Tiffany & Co. (TIF) position by 84.6%. The portfolio was impacted by -0.12%.
The jeweler has a market cap of $16.23 billion and an enterprise value of $17.86 billion.
GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 17.46% and return on assets of 9.3% are outperforming 85% of companies in the cyclical retail industry. Its financial strength is rated 6 out of 10 with a cash-debt ratio of 0.25.
The largest guru shareholder of the company is First Eagle Investment (Trades, Portfolio) with 1.46% of outstanding shares, followed by Ron Baron (Trades, Portfolio)’s fund with 0.42% and Jeremy Grantham (Trades, Portfolio)’s GMO LLC with 0.33%.
Activision Blizzard
The guru cut its Activision Blizzard Inc. (ATVI) position by 47.88%. The portfolio was impacted by -0.11%.
The videogame publisher has a market cap of $48.7 billion and an enterprise value of $44.95 billion.
GuruFocus gives the company a profitability and growth rating of 9 out of 10. The return on equity of 12.54% and return on assets of 8.27% are outperforming 74% of companies in the interactive media industry. Its financial strength is rated 7 out of 10. The cash-debt ratio of 2.17 is below the industry median of 4.6.
Other guru shareholders of the company include PRIMECAP Management (Trades, Portfolio) with 1.09% of outstanding shares, Philippe Laffont (Trades, Portfolio) with 0.7% and Frank Sands (Trades, Portfolio) with 0.68%.
McDonald’s
The investor reduced the McDonald’s Corp. (MCD) position by 18.06%. The portfolio was impacted by -0.10%.
The fast-food restaurants franchize has a market cap of $161 billion and an enterprise value of $207 billion.
GuruFocus gives the company a profitability and growth rating of 9 out of 10. The return on assets of 13.77% is outperforming 96% of companies in the restaurants industry. Its financial strength is rated 3 out of 10 with a cash-debt ratio of 0.02.
Other guru shareholders of the company include Pioneer Investments (Trades, Portfolio) with 0.18% of outstanding shares, PRIMECAP Management (Trades, Portfolio) with 0.02% and Joel Greenblatt (Trades, Portfolio)’s Gotham Asset Management with 0.01%.
Disclosure: I do not own any stocks mentioned.
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