Pioneer Investments (Trades, Portfolio) operates in wide areas of investment vehicles: Mutual Funds, Single Manager Hedge Funds, Funds of Hedge Funds, Structured Products, Segregated and Managed Accounts, Institutional Funds. During the third quarter the guru’s largest sells were the following:
The firm closed its shares in EMC Corp. (EMC) with an impact of -0.71% on the portfolio.
The company supports the businesses and service providers to transform information technology (IT) operations to an as a service model (ITaaS). It operates in three segments: EMC Information Infrastructure, Pivotal and VMware Virtual Infrastructure. Third-quarter revenue grew 1% year over year, and the company generated $1.4 billion in operating cash flow and $1.03 billion in free cash flow.
GuruFocus gives the stock a profitability and growth rating of 7 out of 10 with ROE of 9.96% and ROA of 4.58% that is outperforming 63% of the companies in the Global Data Storage industry. Financial strength has a rating of 6 out of 10 with cash to debt of 1.87 that is a few above the industry median of 1.79.
The firm reduced its stake in Chevron Corp. (CVX) by 31.53% with an impact of -0.54% on the portfolio.
The company provides administrative, financial, management and technology support to U.S. and international subsidiaries that engage in fully integrated petroleum operations, chemicals operations, mining operations and power and energy services. Third-quarter earnings were $1.3 billion or 68 cents per share – diluted compared with earnings of $2.0 billion or $1.09 per share – diluted in the third quarter of a year before.
GuruFocus gives the stock a profitability and growth rating of 4 out of 10 with ROE of -1% and ROA of -0.57% that are underperforming 61% of the companies in the Global Oil & Gas Integrated industry. Financial strength has a rating of 5 out of 10 with cash to debt of 0.17 that is above the industry median of 0.40.
Barrow, Hanley, Mewhinney & Strauss is the largest shareholder among the gurus with 0.31% of outstanding shares followed by Ken Fisher (Trades, Portfolio) with 0.19%, Pioneer Investments with 0.16%, T Rowe Price Equity Income Fund (Trades, Portfolio) with 0.12%, RS Investment Management (Trades, Portfolio) with 0.04%, Dodge & Cox with 0.03%, Jeremy Grantham (Trades, Portfolio) with 0.03% and Mairs and Power (Trades, Portfolio) with 0.02%.
The guru reduced its stake in The Hartford Financial Services Group Inc. (HIG) by 52.39% with an impact of -0.44% on the portfolio.
It is an insurance and financial services company. Its business segments include Property & Casualty Commercial, Consumer Markets, Property & Casualty Other Operations, Group Benefits and Mutual Funds. During the third quarter net income increased 15%, and core earnings increased 13% from the same quarter of 2015.
GuruFocus gives the stock a profitability and growth rating of 5 out of 10 with ROE of 7.67% and ROA 0.61% that are underperforming 70% of the companies in the Global Insurance - Diversified industry. Financial strength has a rating of 5 out of 10 with cash to debt of 0.15 that is below the industry median of 9,999.0.
The largest shareholder among the gurus is Diamond Hill Capital (Trades, Portfolio) with 0.99% of outstanding shares followed by Pioneer Investments with 0.64%, Richard Snow (Trades, Portfolio) with 0.14%, Jim Simons (Trades, Portfolio) with 0.09% and RS Investment Management with 0.09%.
The guru reduced its stake in Agrium Inc. (AGU) by 67.27% with an impact of -0.32% on the portfolio.
It is a retail supplier of agricultural products and services in North and South America and producer and marketer of agricultural nutrients and industrial products. During the third quarter net loss attributable to equity holders of Agrium was $41 million or 29 cents diluted loss per share compared to net earnings of $101 million or 72 cents diluted earnings per share in the same quarter of 2015.
GuruFocus gives the stock a profitability and growth rating of 8 out of 10 with ROE of 11.65% and ROA of 4.28% that are outperforming 58% of the companies in the Global Agricultural Inputs industry. Financial strength has a rating of 5 out of 10 with cash to debt of 0.05 that is below the industry median of 0.53.
Dodge & Cox is the largest shareholder among the gurus with 1.93% of outstanding shares followed by NWQ Managers (Trades, Portfolio) with 0.17%, Grantham with 0.07%, Westport Asset Management (Trades, Portfolio) with 0.05%, Stanley Druckenmiller (Trades, Portfolio) with 0.03% and John Buckingham (Trades, Portfolio) with 0.01%.
The firm reduced its stake in Reynolds American Inc. (RAI) by 25.08% with an impact of -0.32% on the portfolio.
The company through its subsidiaries manufactures cigarettes and other tobacco products in the U.S. Its product brands include Camel, Pall Mall and Winston among others. During the third quarter earnings per shares increased 30.4% from the same quarter of the prior year, and adjusted earnings per shares increased 10.9%.
GuruFocus gives the stock a profitability and growth rating of 7 out of 10 with ROA of 27.28% and ROC of 10.38% that are outperforming 60% of the companies in the Global Tobacco industry. Financial strength has a rating of 5 out of 10 with cash to debt of 0.15 that is below the industry median of 0.54.
The largest shareholder among the gurus is Barrow, Hanley, Mewhinney & Strauss with 0.36% of outstanding shares followed by David Winters (Trades, Portfolio) with 0.13%, Wintergreen Fund (Trades, Portfolio) with 0.12%, MS Global Franchise Fund (Trades, Portfolio) with 0.05%, Joel Greenblatt (Trades, Portfolio) with 0.03% and Simons with 0.01%.
The guru reduced its stake in General Electric Co. (GE) by 23.29% with an impact of -0.25% on the portfolio.
It is a diversified company with products and services that range from aircraft engines, power generation, oil and gas production equipment, household appliances, medical imaging, business and consumer financing and industrial products. Third-quarter net earnings grew 12%, and total revenues increased 4%.
GuruFocus gives the stock a profitability and growth rating of 5 out of 10 with ROE of 11.69% and ROA of 2.45% that is underperforming 55% of the companies in the Global Diversified Industrials industry. Financial strength has a rating of 5 out of 10 with cash to debt of 1.13 that is below the industry median of 1.12.
Fisher is the largest shareholder among the gurus with 0.36% of outstanding shares followed by T Rowe Price Equity Income Fund with 0.16%, Bill Nygren (Trades, Portfolio) with 0.16%, Warren Buffett (Trades, Portfolio) with 0.12%, First Pacific Advisors (Trades, Portfolio) with 0.11%, Steven Romick (Trades, Portfolio) with 0.08% and Mairs and Power with 0.05%.
The guru reduced its shares in JPMorgan Chase & Co. (JPM) by 26.87% with an impact of -0.25% on the portfolio.
The company is a financial services firm and a banking institution. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. During the third quarter net revenue grew 8%, and net interest income increased 6%. Driven by lower legal expense, partially offset by higher compensation expense, noninterest expense decreased 6%.
GuruFocus gives the stock a profitability and growth rating of 6 out of 10 with ROE of 8.52% and ROA of 0.96% that are outperforming 51% of the companies in the Global Banks - Global industry. Financial strength has a rating of 6 out of 10 with cash to debt of 1.21 that is below the industry median of 2.02%.
The largest shareholder among the gurus is Dodge & Cox with 0.8% of outstanding shares followed by Barrow, Hanley, Mewhinney & Strauss with 0.72%, PRIMECAP Management with 0.66%, Chris Davis (Trades, Portfolio) with 0.47%, Fisher with 0.39% and T Rowe Price Equity Income Fund with 0.28%.
Disclosure: I do not own any shares of any stocks mentioned in this article.
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