CAMBIAR INVESTORS LLC recently filed their 13F report for the fourth quarter of 2022, which ended on 2022-12-31.
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.
Cambiar Investors is an investment management company based out of Denver, Colorado. The company was founded in 1973 and is currently headed by Brian M. Barish, who holds a variety of roles including being the President, Chief Investment Officer, and Director of Research in the company. The company currently has 45 employees with 11 of them being investment professionals. Cambiar Investors conducts its research in house and focuses on attention on individual companies rather than industries, utilizing a fundamental analysis and a bottom up investment approach. The company conducts business through active management, focusing on understanding where “value is eroding and accumulating within their assigned sectors” in order to be able to capitalize on the short sighted short-term market with its long term approach. Cambiar Investors invests most heavily in the finance sector, which alone makes up approximately a quarter of its total asset allocations, and the firm also invests in the consumer discretionary, information technology, health care, industrials, and utilities and telecommunications sectors, among others to a lesser degree in order of decreasing allocation. Cambiar Investors currently has over $9.2 billion in total assets under management spread across over 12,700 accounts, of which over 8,100 are discretionary accounts, making up the bulk $8.3 billion of its held assets, and 4,600 are non-discretionary accounts, making up the remaining $800 million of its assets. Although its total number of held accounts has been volatile in recent years, its total assets under management has been steadily increasing, growing from $4 billion in 2010 to well over twice that amount today. Cambiar Investors mainly caters to individuals, which alone makes up almost three quarters of its entire client base, and the firm also caters to a variety of other clientele. The company current offers a variety of mutual funds including its Global Select, Large Cap Value, SMID Value, International Equity, and Aggressive Value strategies.
As of the latest 13F report, the guru’s equity portfolio contained 141 stocks valued at a total of $2.19Bil. The top holdings were
According to GuruFocus data, these were CAMBIAR INVESTORS LLC’s top five trades of the quarter.
Laboratory Corp of America Holdings
The guru established a new position worth 208,800 shares in NYSE:LH, giving the stock a 2.24% weight in the equity portfolio. Shares traded for an average price of $227.5 during the quarter.
On 02/02/2023, Laboratory Corp of America Holdings traded for a price of $254.56 per share and a market cap of $22.55Bil. The stock has returned -5.68% 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, Laboratory Corp of America Holdings has a price-earnings ratio of 13.58, a price-book ratio of 2.26, a price-earnings-to-growth (PEG) ratio of 0.71, a EV-to-Ebitda ratio of 9.13 and a price-sales ratio of 1.56.
The price-to-GF Value ratio is 0.96, earning the stock a GF Value rank of 6.
KKR & Co Inc
The guru sold out of their 718,827-share investment in NYSE:KKR. Previously, the stock had a 1.56% weight in the equity portfolio. Shares traded for an average price of $48.74 during the quarter.
On 02/02/2023, KKR & Co Inc traded for a price of $58.38 per share and a market cap of $50.27Bil. The stock has returned -19.16% 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, KKR & Co Inc has a price-book ratio of 3.07, a EV-to-Ebitda ratio of 63.20 and a price-sales ratio of 5.51.
The price-to-GF Value ratio is 2.06, earning the stock a GF Value rank of 1.
Principal Financial Group Inc
CAMBIAR INVESTORS LLC reduced their investment in NAS:PFG by 418,798 shares. The trade had a 1.53% impact on the equity portfolio. During the quarter, the stock traded for an average price of $85.79000000000001.
On 02/02/2023, Principal Financial Group Inc traded for a price of $92.80500000000001 per share and a market cap of $22.60Bil. The stock has returned 28.95% over the past year.
GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 5 out of 10.
In terms of valuation, Principal Financial Group Inc has a price-earnings ratio of 4.50, a price-book ratio of 2.27 and a price-sales ratio of 1.30.
The price-to-GF Value ratio is 1.52, earning the stock a GF Value rank of 1.
Shell PLC
During the quarter, CAMBIAR INVESTORS LLC bought 523,576 shares of NYSE:SHEL for a total holding of 540,858. The trade had a 1.36% impact on the equity portfolio. During the quarter, the stock traded for an average price of $55.12.
On 02/02/2023, Shell PLC traded for a price of $57.07 per share and a market cap of $198.68Bil. The stock has returned 10.21% 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, Shell PLC has a price-earnings ratio of 4.98, a price-book ratio of 1.01, a price-earnings-to-growth (PEG) ratio of 1.38, a EV-to-Ebitda ratio of 2.71 and a price-sales ratio of 0.61.
The price-to-GF Value ratio is 0.87, earning the stock a GF Value rank of 9.
Corteva Inc
CAMBIAR INVESTORS LLC reduced their investment in NYSE:CTVA by 396,735 shares. The trade had a 1.14% impact on the equity portfolio. During the quarter, the stock traded for an average price of $63.29.
On 02/02/2023, Corteva Inc traded for a price of $62.03 per share and a market cap of $44.32Bil. The stock has returned 29.71% over the past year.
GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 5 out of 10.
In terms of valuation, Corteva Inc has a price-earnings ratio of 37.59, a price-book ratio of 1.79, a EV-to-Ebitda ratio of 16.15 and a price-sales ratio of 2.65.
The price-to-GF Value ratio is 1.13, earning the stock a GF Value rank of 3.
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.
When GuruFocus covers insider information, we only track open market or the private purchase and sale of common stock with the transaction code of P or S. Therefore, all the transactions mentioned in this article are only the ones with transaction code of P or S.
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