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Top 5 1st Quarter Trades of Epoch Investment Partners, Inc.

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May 16, 2022
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Epoch Investment Partners, Inc. 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.

Epoch Investment Partners is an investment management company that was established in 2004 in New York City. The company focuses on locating unvalued companies or other missed opportunities, looking for strong management, financial transparency, and consistency in its investment decisions and believing that the “growth of free cash flow, and the intelligent use of that cash flow, represent the best predictor of long-term shareholder return.” Epoch Investment Partners utilizes a free cash flow generation model with an emphasis on portfolio risk management. The company utilizes earnings, dividends and P/E multiples as its primary determinants for returns on equities, although the latter indicator is not as useful as it was in the past due to low stock interest rates. Epoch Investment Partners provides its services to a variety of clients around the world including corporations, foundations, public funds, endowments, high net worth individuals, investment entities, state and municipal government agencies, charities, and pension and profit sharing plans. The company’s investment teams contains experienced investment professionals that average over two decades of experience, emphasizing a “rigorous investment criteria and research, combined with an integrated risk management process and a robust infrastructure” to conduct its operations. Epoch Investment Partners utilizes a fundamental analysis to create and manage its portfolios and keeps the majority of its research in house. Through its research, the company invests in public equity and value stocks on a global basis and the three main sectors that it has current assets vested in include the financial, services, and technology sectors, which together make up over half of its total assets. Epoch Investment Partners provides a variety of products and services including managing separate equity strategies, mutual funds, and variable annuities. The company is currently an acting subsidiary of TD Bank US Holdings and has approximately $43 billion in total assets under management. Some of the strategies that Epoch Investment Partners offers include Global Choice, U.S. All Cap Value, Global Absolute Return, and International Small Cap.

As of the latest 13F report, the guru’s equity portfolio contained 439 stocks valued at a total of $20,403,000,000. The top holdings were MSFT(3.06%), AAPL(1.94%), and AVGO(1.79%).

According to GuruFocus data, these were Epoch Investment Partners, Inc.’s top five trades of the quarter.

Aspen Technology Inc


Epoch Investment Partners, Inc. reduced their investment in NAS:AZPN by 1,049,072 shares. The trade had a 0.81% impact on the equity portfolio. During the quarter, the stock traded for an average price of $147.09.

On 05/16/2022, Aspen Technology Inc traded for a price of $165.75 per share and a market cap of $11,040,493,000. The stock has returned 17.97% over the past year.

GuruFocus gives the company a financial strength rating of 8 out of 10 and a profitability rating of 9 out of 10.

In terms of valuation, Aspen Technology Inc has a price-earnings ratio of 41.33, a price-book ratio of 14.25, a price-earnings-to-growth (PEG) ratio of 2.54, a EV-to-Ebitda ratio of 32.71 and a price-sales ratio of 16.17.

The price-to-GF Value ratio is 1.09, earning the stock a GF Value rank of 5.

Expedia Group Inc


The guru established a new position worth 532,455 shares in NAS:EXPE, giving the stock a 0.51% weight in the equity portfolio. Shares traded for an average price of $187.4 during the quarter.

On 05/16/2022, Expedia Group Inc traded for a price of $131.78 per share and a market cap of $20,702,352,000. The stock has returned -21.43% over the past year.

GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 6 out of 10.

In terms of valuation, Expedia Group Inc has a price-earnings ratio of 113.60, a price-book ratio of 10.31, a EV-to-Ebitda ratio of 14.16 and a price-sales ratio of 2.13.

The price-to-GF Value ratio is 1.04, earning the stock a GF Value rank of 5.

Salesforce Inc


During the quarter, Epoch Investment Partners, Inc. bought 493,614 shares of NYSE:CRM for a total holding of 552,390. The trade had a 0.51% impact on the equity portfolio. During the quarter, the stock traded for an average price of $215.18.

On 05/16/2022, Salesforce Inc traded for a price of $166.91 per share and a market cap of $165,894,616,000. The stock has returned -21.22% over the past year.

GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 7 out of 10.

In terms of valuation, Salesforce Inc has a price-earnings ratio of 111.27, a price-book ratio of 2.84, a price-earnings-to-growth (PEG) ratio of 4.17, a EV-to-Ebitda ratio of 44.03 and a price-sales ratio of 6.14.

The price-to-GF Value ratio is 0.62, earning the stock a GF Value rank of 8.

Air Products & Chemicals Inc


The guru established a new position worth 354,298 shares in NYSE:APD, giving the stock a 0.43% weight in the equity portfolio. Shares traded for an average price of $257.27 during the quarter.

On 05/16/2022, Air Products & Chemicals Inc traded for a price of $233.71 per share and a market cap of $51,830,644,000. The stock has returned -20.00% 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, Air Products & Chemicals Inc has a price-earnings ratio of 23.28, a price-book ratio of 3.71, a price-earnings-to-growth (PEG) ratio of 2.24, a EV-to-Ebitda ratio of 13.65 and a price-sales ratio of 4.57.

The price-to-GF Value ratio is 0.74, earning the stock a GF Value rank of 10.

Microsoft Corp


During the quarter, Epoch Investment Partners, Inc. bought 276,720 shares of NAS:MSFT for a total holding of 2,024,308. The trade had a 0.42% impact on the equity portfolio. During the quarter, the stock traded for an average price of $300.8.

On 05/16/2022, Microsoft Corp traded for a price of $261.12 per share and a market cap of $1,952,925,132,000. The stock has returned 8.41% over the past year.

GuruFocus gives the company a financial strength rating of 8 out of 10 and a profitability rating of 10 out of 10.

In terms of valuation, Microsoft Corp has a price-earnings ratio of 27.26, a price-book ratio of 11.99, a price-earnings-to-growth (PEG) ratio of 1.29, a EV-to-Ebitda ratio of 19.37 and a price-sales ratio of 10.25.

The price-to-GF Value ratio is 0.88, earning the stock a GF Value rank of 7.


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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