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Top 5 1st Quarter Trades of Covington Capital Management

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May 14, 2022
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Covington Capital Management recently filed their 13F report for the first quarter of 2022, which ended on 2022-03-31.

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.

601 SOUTH FIGUEROA STREET, SUITE 2000 LOS ANGELES, CA 90017

As of the latest 13F report, the guru’s equity portfolio contained 1106 stocks valued at a total of $2,786,000,000. The top holdings were AAPL(4.27%), SJW(3.97%), and MSFT(3.24%).

According to GuruFocus data, these were Covington Capital Management’s top five trades of the quarter.

SJW Group


Covington Capital Management reduced their investment in NYSE:SJW by 1,084,881 shares. The trade had a 2.74% impact on the equity portfolio. During the quarter, the stock traded for an average price of $67.29.

On 05/14/2022, SJW Group traded for a price of $60.64 per share and a market cap of $1,833,580,000. The stock has returned -1.29% over the past year.

GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 7 out of 10.

In terms of valuation, SJW Group has a price-earnings ratio of 29.71, a price-book ratio of 1.80, a EV-to-Ebitda ratio of 15.08 and a price-sales ratio of 3.16.

The price-to-GF Value ratio is 0.86, earning the stock a GF Value rank of 9.

Amazon.com Inc


During the quarter, Covington Capital Management bought 2,083 shares of NAS:AMZN for a total holding of 19,985. The trade had a 0.24% impact on the equity portfolio. During the quarter, the stock traded for an average price of $3092.09.

On 05/14/2022, Amazon.com Inc traded for a price of $2261.1 per share and a market cap of $1,150,267,880,000. The stock has returned -28.48% over the past year.

GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 9 out of 10.

In terms of valuation, Amazon.com Inc has a price-earnings ratio of 54.57, a price-book ratio of 8.58, a price-earnings-to-growth (PEG) ratio of 1.30, a EV-to-Ebitda ratio of 19.88 and a price-sales ratio of 2.43.

The price-to-GF Value ratio is 0.60, earning the stock a GF Value rank of 4.

Alphabet Inc


During the quarter, Covington Capital Management bought 2,335 shares of NAS:GOOGL for a total holding of 15,753. The trade had a 0.23% impact on the equity portfolio. During the quarter, the stock traded for an average price of $2715.99.

On 05/14/2022, Alphabet Inc traded for a price of $2321.01 per share and a market cap of $1,531,299,200,000. The stock has returned 4.13% over the past year.

GuruFocus gives the company a financial strength rating of 9 out of 10 and a profitability rating of 10 out of 10.

In terms of valuation, Alphabet Inc has a price-earnings ratio of 21.01, a price-book ratio of 6.02, a price-earnings-to-growth (PEG) ratio of 0.79, a EV-to-Ebitda ratio of 13.93 and a price-sales ratio of 5.78.

The price-to-GF Value ratio is 0.86, earning the stock a GF Value rank of 9.

JPMorgan Ultra-Short Municipal Income ETF


Covington Capital Management reduced their investment in BATS:JMST by 130,675 shares. The trade had a 0.23% impact on the equity portfolio. During the quarter, the stock traded for an average price of $50.77.

On 05/14/2022, JPMorgan Ultra-Short Municipal Income ETF traded for a price of $50.43 per share and a market cap of $3,484,710,000. The stock has returned -0.95% over the past year.

There is insufficient data to calculate the stock’s financial strength and profitability ratings.

Schwab U.S. Large-Cap Growth ETF


During the quarter, Covington Capital Management bought 80,254 shares of ARCA:SCHG for a total holding of 159,495. The trade had a 0.22% impact on the equity portfolio. During the quarter, the stock traded for an average price of $72.89.

On 05/14/2022, Schwab U.S. Large-Cap Growth ETF traded for a price of $61.52 per share and a market cap of $13,697,430,000. The stock has returned -8.82% over the past year.

There is insufficient data to calculate the stock’s financial strength and profitability ratings.

In terms of valuation, Schwab U.S. Large-Cap Growth ETF has a price-earnings ratio of 33.42 and a price-book ratio of 9.01.


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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