FPA Crescent Fund’s portfolio manager Steven Romick (Trades, Portfolio) sold shares of the following stocks during the second quarter.
The fund sold short its SPDR S&P Regional Banking (ARCA:KRE) stake. The trade had an impact of -0.9% on the portfolio.
The Mohawk Industries Inc. (MHK) stake was trimmed by 45.51%. The trade had an impact of -0.75% on the portfolio.
The manufacturer of carpets, rugs and other flooring products, has a market cap of $10.83 billion and an enterprise value of $14 billion.
GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of 10.39% and return on assets of 5.94% are outperforming 51% of companies in the Manufacturing - Apparel & Furniture industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 0.03 is below the industry median of 0.78.
The largest guru shareholder of the company is First Pacific Advisors (Trades, Portfolio) with 2.27% of outstanding shares, followed by Ruane Cunniff (Trades, Portfolio) with 1.97% and Richard Pzena (Trades, Portfolio) with 1.88%.
The fund reduced its United Technologies Corp. (UTX) position by 11.76%. The portfolio was impacted by -0.44%.
The company, which sells aerospace components, has a market cap of $115 billion and an enterprise value of $156 billion.
GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of 15.44% and return on assets of 4.53% are underperforming 74% of companies in the Aerospace and Defense industry. Its financial strength is rated 5.2 out of 10. The cash-debt ratio of 0.14 is below the industry median of 0.48.
The company's largest guru shareholder is Dodge & Cox with 1.78% of outstanding shares, followed by the Barrow, Hanley, Mewhinney & Strauss with 1.20% and Chris Davis (Trades, Portfolio) with 0.96%.
The guru curbed its Meggitt PLC (LSE:MGGT) holding by 17.87%, impacting the portfolio by -0.41%.
The guru cut its JD.Com Inc. (JD) holding by 14.42%, impacting the portfolio by -0.30%.
The Chinese e-commerce company has a market cap of $52.03 billion and an enterprise value of $48.22 billion.
GuruFocus gives the company a profitability and growth rating of 6 out of 10. The return on equity of 5.36% and return on assets of 1.56% are underperforming 71% of companies in the Retail - Apparel and Specialty industry. Its financial strength is rated 6.3 out of 10. The cash-debt ratio of 3.31 is below the industry median of 0.65.
Chase Coleman (Trades, Portfolio)’s Tiger Global Management is the largest guru shareholder of the company with 4% of outstanding shares, followed by Dodge & Cox with 2.37%, Ken Fisher (Trades, Portfolio) with 0.85% and Andreas Halvorsen (Trades, Portfolio)’s Viking Global Investors with 0.80%.
The Charter Communications Inc. (CHTR) position was reduced by 9.6%. The portfolio was impacted by -0.29%.
The cable company, has a market cap of $92.63 billion and an enterprise value of $173 billion.
GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of 3.55% and return on assets of 0.9% are underperforming 83% of companies in the Communication Services industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.02 is below the industry median of 0.34.
The company's largest guru shareholder is Dodge & Cox with 5.32% of outstanding shares, followed by Warren Buffett (Trades, Portfolio)’s Berkshire Hathaway with 2.56% and Bill Nygren (Trades, Portfolio)’s Oakmark Fund with 0.54%.
The investor trimmed 9.6% off its Comcast Corp. (CMCSA) stake. The trade had an impact of -0.29% on the portfolio.
The cable operator has a market cap of $202.97 billion and an enterprise value of $309 billion.
GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 16.98% and return on assets of 5.58% are outperforming 56% of companies in the Communication Services industry. Its financial strength is rated 4.7 out of 10. The cash-debt ratio of 0.03 is below the industry median of 0.34.
Dodge & Cox is the largest guru shareholder of the company with 1.88% of outstanding shares, followed by Barrow, Hanley, Mewhinney & Strauss with 0.54% and First Eagle Investment (Trades, Portfolio) with 0.51%.
The Aon PLC (AON) stake was reduced by 12.42%, impacting the portfolio by -0.28%.
The provider of insurance and reinsurance solutions has a market cap of $47 billion and an enterprise value of $53 billion.
GuruFocus gives the company a profitability and growth rating of 6 out of 10. The return on equity of 26.03% and return on assets of 4.40% are outperforming 61% of companies in the Brokers and Exchanges industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.11 is below the industry median of 2.44.
The company's largest guru shareholder is First Pacific Advisors (Trades, Portfolio) with 0.77% of outstanding shares, followed by Steven Romick (Trades, Portfolio) with 0.52%, Halvorsen’s firm with 0.27% and Jim Simons' (Trades, Portfolio) Renaissance Technologies with 0.17%.
Disclosure: I do not own any stocks mentioned.
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