James Barrow (Trades, Portfolio) is executive director of Dallas-based investment firm Barrow Hanley Mewhinney & Strauss, the lead portfolio manager for the Vanguard Windsor II and Selected Value Funds. Barrow Hanley currently serves as a sub-adviser to more than 45 equity and fixed income mutual funds.
During the third quarter 26 stocks got new positions in Barrow’s portfolio, and here are his most weighted new buys.
The investor acquired a 12,751,758-share stake in United Technologies Corp. (UTX) at an average price of $97.82 per share. It provides high technology products and services to the building systems and aerospace industries worldwide. The deal had a 1.74% impact on his portfolio. Currently it is trading at $93.87.
United Technologies has a market cap of $83.26 billion and an enterprise value of $10.27 billion. It has a P/E of 14.50, a forward P/E of 14.16, a P/B of 2.74 and a P/S of 1.31. GuruFocus has given United Technologies a financial strength rating of 7/10 and a profitability and growth rating of 8/10.
Jeremy Grantham (Trades, Portfolio), Charles de Vaulx (Trades, Portfolio), T Rowe Price Equity Income Fund (Trades, Portfolio) and Chuck Royce (Trades, Portfolio) made United Technologies a new buy in the third quarter. The stock faced huge increases of 16,683.89%, 936.60% and 720.25% from Chris Davis (Trades, Portfolio), Ray Dalio (Trades, Portfolio) and David Dreman (Trades, Portfolio)
International Business Machines Corp. (IBM) was another new buy for Barrow; he acquired a 787,424-share stake at average price of $154.62 per share. It creates business value for clients and solves business problems through integrated solutions that leverage information technology and knowledge of business processes. The deal had a 0.18% impact on his portfolio. Currently it is trading at $136.78.
IBM has a market cap of $132.69 million and an enterprise value of $161.97 million. It has a P/E of 9.55, a forward P/E of 9.08, a P/B of 9.99 and a P/S of 1.61. GuruFocus has given IBM a financial strength rating of 8/10 and a profitability and growth rating of 8/10.
Bruce Berkowitz (Trades, Portfolio), Edward Lampert (Trades, Portfolio), Tweedy Browne (Trades, Portfolio) and Tweedy Browne Global Value are other gurus who had IBM as a new buy.
He bought a 2,572,556-share stake in Flow International Corporation (FLOW) at an average price of $37.48 per share. It is a technology-based company providing customer-driven waterjet cutting, surface preparation and cleaning solutions. The deal had a 0.14% impact on his portfolio. Currently it is trading at $29.80 per share.
Flow International has a market cap of $1.23 billion and an enterprise value of $2.11 billion. It has a P/E of 11.02, a P/B of 0.96 and a P/S of 0.52. GuruFocus has given Flow International a financial strength rating of 5/10 and a profitability and growth rating of 2/10.
Tyco International PLCÂ (TYC) was another new buy for Barrow; he acquired a 217,185-share stake at an average price of $36.77 per share. It provides security, fire detection and suppression products and services and life safety products. The company diversifies its activities into three segments: Tyco Security Solutions; Tyco Fire Protection and Tyco Flow Control. The deal had a 0.11% impact on his portfolio. Currently it is trading at $32.96 per share.
Tyco International has a market cap of $13.93 million and an enterprise value of $16.28 million. It has a P/E of 25.40, a forward P/E of 15.17, a P/B of 3.42 and a P/S of 1.42. GuruFocus has given Tyco International a financial strength rating of 8/10 and a profitability and growth rating of 6/10.
The stock got a new position in the portfolios of many gurus like Jim Simons (Trades, Portfolio), PRIMECAP Management (Trades, Portfolio) and Signature Select Canadian Fund (Trades, Portfolio) while it faced huge increases of 826.24% from Steven Cohen (Trades, Portfolio) and 451.14% by T Rowe Price Equity Income Fund (Trades, Portfolio).
Barrow bought a 3,421,372-share stake in Tutor Perini Corp. (TPC) at an average price of $18.34 per share. It is a construction services company that offers general contracting, pre-construction planning and comprehensive project management services, including the planning and scheduling of the manpower, equipment, materials and subcontractors required for a project. The deal had a 0.09% impact on his portfolio. Currently it is trading at $16.47.
Tutor Perini has a market cap of $808.23 million and an enterprise value of $1.53 billion. It has a P/E of 12.67, a forward P/E of 6.90, a P/B of 0.60 and a P/S of 0.17. GuruFocus has given Tutor Perini a financial strength rating of 7/10 and a profitability and growth rating of 5/10.
James Barrow (Trades, Portfolio) was the only guru who got a new position in the company while HOTCHKIS & WILEY, Paul Tudor Jones (Trades, Portfolio) and David Dreman (Trades, Portfolio) increased their stakes by 64.30%, 25.74% and 14.07%. John Buckingham (Trades, Portfolio) increased his stake less than 1%.
Another new acquisition for Barrow was a 419,811-share stake in Valley National Bancorp (VLY) at an average price of $9.84 per share. It is a bank holding company. Currently, the bank has 204 branches in 144 communities serving 16 counties. The deal had a 0.07% impact on his portfolio. Currently it is trading at $10.07.
Valley National has a market cap of $2.34 billion and an enterprise value of $5.09 billion. It has a P/E of 18.85, a forward P/E of 15.04, a P/B of 1.28 and a P/S of 3.73. GuruFocus has given Valley National a financial strength rating of 4/10 and a profitability and growth rating of 5/10.
Barrow was the only guru who made Valley National a new buy in the third quarter, but the stock also faced a huge increase of 933.33% from Paul Tudor Jones (Trades, Portfolio). Jim Simons (Trades, Portfolio) increased his stake by 73.29%.
Barrow acquired a 1,086,414-share stake in Nielsen Holdings PLCÂ (NLSN) at an average price of $46.2 per share. The company together with its subsidiaries provides to clients an understanding of what consumers watch and what they buy and how those choices intersect. The deal had a 0.07% impact on his portfolio. Currently it is trading at $45.70.
Nielsen has a market cap of $16.64 billion and an enterprise value of $23.39 billion. It has a P/E of 35.70, a forward P/E of 15.95, a P/B of 3.78 and a P/S of 2.77. GuruFocus has given Nielsen a financial strength rating of 7/10 and a profitability and growth rating of 6/10.
The stock also was new buy of Pioneer Investments (Trades, Portfolio) and Manning & Napier Advisors Inc. increased its stake by 23.68%.
The investor bought a 319,833-share stake in Chico's FAS Inc. (CHS) at an average price of $15.5 per share. It is a cultivator of brands serving the lifestyle needs of fashion-savvy women 35 years and older. The deal had a 0.01% impact on his portfolio. Currently it is trading at $11.76.
Chico's FAS has a market cap of $1.64 billion and an enterprise value of $1.61 billion. It has a forward P/E of 15.67, a P/B of 2.28 and a P/S of 0.63. GuruFocus has given Chico's FAS a financial strength rating of 9/10 and a profitability and growth rating of 7/10.
Paul Tudor Jones (Trades, Portfolio) is another investor who got a new position in the company while Jim Simons (Trades, Portfolio) increased his stake by 92.01% and Joel Greenblatt (Trades, Portfolio) increased his stake by 16.77%.
Barrow acquired a 304,600-share stake in Weight Watchers International Inc. (WTW) at an average price of $5.34 per share. The company together with its subsidiaries provides to clients an understanding of what consumers watch and what they buy and how those choices intersect. Currently it is trading at $24.8.
Weight Watchers has a market cap of $1.58 billion and an enterprise value of $3.61 billion. It has a P/E of 29.27, a forward P/E of 34.97 and a P/S of 1.15. GuruFocus has given Weight Watchers a financial strength rating of 5/10 and a profitability and growth rating of 7/10.
The stock also got new positions in the portfolios of Steven Cohen (Trades, Portfolio) and Paul Tudor Jones (Trades, Portfolio). It faced a huge increase of 366.08% from Cohen.
