FIDUCIARY TRUST CO recently filed their 13F report for the third quarter of 2022, which ended on 2022-09-30.
The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, though investors should note that these filings are limited in scope, containing only a snapshot of long positions in U.S.-listed stocks and American depository receipts as of the quarter’s end. They are not required to include international holdings, short positions or other types of investments. Still, even this limited filing can provide valuable information.
Fiduciary Trust Co is an investment management firm based out of Boston, Massachusetts. The company can trace its history back to 1885, when “one of New England’s most prominent families established an office to ensure consistency in management of the family's trusts and investments.” The original company would operate largely as a family investment management firm until 1928 when Robert H. Gardiner incorporated Fiduciary Trust Company to “provide wealthy individuals and their families objective advice to meet their estate, trust and investment needs.” Fiduciary Trust Co utilizes an “open architecture” methodology to manage its portfolios, allowing “access to top-tier investment managers across a broad range of traditional and alternative asset classes.” The company invests with a long term investment horizon, focusing on establishing a disciplined and consistent approach. Fiduciary Trust Co conducts its research both internally and externally, utilizing a quantitative analytics methodology to make its investment decisions. The company invests in the public equity, fixed income, and real estate markets on a global scale, allocating its assets in the value and growth stocks of companies ranging from the small to large market capitalizations. Fiduciary Trust Co invests most heavily in the finance sector, which alone makes up over a quarter of the firm’s total asset allocations, and also invests in the information technology, health care, consumer discretionary, consumer staples, industrials, energy, materials, and real estate sectors, among other sectors to a lesser degree, in order of decreasing allocation. The company holds its allocations an average of 24.5 quarters although the firm only holds its top 10 allocations an average of 14 quarters. Fiduciary Trust Co, in the most recent quarter, has had a turnover rate of approximately 10.6%. The company currently oversees over $11 billion in total assets under management and operates with a team of investment professionals that have an average of over a quarter century in the industry.
As of the latest 13F report, the guru’s equity portfolio contained 612 stocks valued at a total of $4.62Bil. The top holdings were IVV(11.00%), AAPL(5.75%), and CPNG(4.88%).
According to GuruFocus data, these were FIDUCIARY TRUST CO’s top five trades of the quarter.
TJX Companies Inc
During the quarter, FIDUCIARY TRUST CO bought 553,574 shares of NYSE:TJX for a total holding of 2,679,980. The trade had a 0.74% impact on the equity portfolio. During the quarter, the stock traded for an average price of $62.81.
On 11/16/2022, TJX Companies Inc traded for a price of $75.12 per share and a market cap of $87.22Bil. The stock has returned 10.02% over the past year.
GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, TJX Companies Inc has a price-earnings ratio of 26.83, a price-book ratio of 16.15, a EV-to-Ebitda ratio of 17.01 and a price-sales ratio of 1.80.
The price-to-GF Value ratio is 0.96, earning the stock a GF Value rank of 6.
Vanguard FTSE Developed Markets ETF
During the quarter, FIDUCIARY TRUST CO bought 566,881 shares of ARCA:VEA for a total holding of 5,452,233. The trade had a 0.45% impact on the equity portfolio. During the quarter, the stock traded for an average price of $40.64.
On 11/16/2022, Vanguard FTSE Developed Markets ETF traded for a price of $42.29 per share and a market cap of $99.86Bil. The stock has returned -16.88% over the past year.
There is insufficient data to calculate the stock’s financial strength and profitability ratings.
In terms of valuation, Vanguard FTSE Developed Markets ETF has a price-earnings ratio of 11.57 and a price-book ratio of 1.44.
JPMorgan Ultra-Short Municipal Income ETF
During the quarter, FIDUCIARY TRUST CO bought 295,979 shares of BATS:JMST for a total holding of 1,094,289. The trade had a 0.32% impact on the equity portfolio. During the quarter, the stock traded for an average price of $50.42.
On 11/16/2022, JPMorgan Ultra-Short Municipal Income ETF traded for a price of $50.42 per share and a market cap of $2.55Bil. The stock has returned -0.59% over the past year.
There is insufficient data to calculate the stock’s financial strength and profitability ratings.
CMC Materials Inc
The guru sold out of their 74,268-share investment in NAS:CCMP. Previously, the stock had a 0.27% weight in the equity portfolio. Shares traded for an average price of $173.19 during the quarter.
On 11/16/2022, CMC Materials Inc traded for a price of $173.69 per share and a market cap of $4.97Bil. The stock has returned 19.91% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, CMC Materials Inc has a price-earnings ratio of 45.47, a price-book ratio of 5.26, a price-earnings-to-growth (PEG) ratio of 7.71, a EV-to-Ebitda ratio of 17.64 and a price-sales ratio of 4.00.
The price-to-GF Value ratio is 1.00, earning the stock a GF Value rank of 5.
Vanguard Short-Term Inflation-Protected Securities
FIDUCIARY TRUST CO reduced their investment in NAS:VTIP by 170,301 shares. The trade had a 0.18% impact on the equity portfolio. During the quarter, the stock traded for an average price of $48.61.
On 11/16/2022, Vanguard Short-Term Inflation-Protected Securities traded for a price of $47.77 per share and a market cap of $17.51Bil. The stock has returned -3.30% over the past year.
There is insufficient data to calculate the stock’s financial strength and profitability ratings.
Please note, the numbers and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.
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