Arnold Van Den Berg is the founder of Austin-based Century Management. He and his team seek companies that are trading at discounts to their intrinsic value either because they are lesser known, have a short-term problem or are temporarily out of favor.
As of the third quarter Century Management held 64 stocks valued at $1.019 billion. The guru bought seven new stocks during the third quarter for a quarter-over-quarter turnover of 5%. The following five companies are the five largest stock positions held by Century Management as of the close of the third quarter.
Jacobs Engineering Group (JEC)
Van Den Berg’s largest position is in Jacobs Engineering where the guru holds on to 904,462 shares. His position in the company represents 0.69% of the company’s shares outstanding and 5.2% of his total portfolio.
During the third quarter Van Den Berg reduced his position by -1.54%. The guru sold a total of 14,125 shares in the third quarter price range of $54.56 to $62.33, with an estimated average price of $58.77. The price per share has dropped about -2.5% since then.
Van Den Berg’s historical holding history:
Jacobs Engineering is a professional services firm in the U.S. Its business focuses on providing a range of technical, professional and construction services to a large number of industrial, commercial and governmental clients around the world.
Jacobs Engineering’s historical revenue and net income:
The Peter Lynch Chart suggests that the company is currently overvalued:
Jacobs Engineering has a market cap of $7.44 billion. Its shares are currently trading at around $56.68 with a P/E ratio of 17.60, a P/S ratio of 0.70 and a P/B ratio of 1.80. The company had an annual average earnings growth of 12.3% over the past ten years.
Cisco Systems Inc (CSCO)
Van Den Berg’s second largest holding is in Cisco Systems where the guru maintains 2,079,674 shares of the company’s stock. His position represents 0.04% of the company’s shares outstanding and 4.8% of his total portfolio.
During the third quarter Van Den Berg reduced his holdings -1.64% by selling a total of 34,679 shares. He sold these shares in the third quarter price range of $23.31 to $26.38, with an estimated average price of $24.82. Since then the share price has decreased about -7.8%.
Van Den Berg’s historical holding history:
The company sells networking and communications products and provides related services. The company's two main products are switches and routers, but Cisco essentially touches everything in the networking industry, from security to storage to application switching.
Cisco’s historical revenue and net income:
The Peter Lynch Chart suggests that the company is currently undervalued:
Cisco Systems has a market cap of $122.55 billion. Its shares are currently trading at around $22.76 with a P/E ratio of 12.30, a P/S ratio of 2.50 and a P/B ratio of 2.10. The company had an annual average earnings growth of 8.4% over the past ten years.
GuruFocus rated Cisco the business predictability rank of 3.5-star.
Newmont Mining Corporation (NEM)
The guru’s third largest position is in Newmont Mining Corporation. The guru holds on to 1,647,646 shares, representing 0.33% of the company’s shares outstanding and 4.5% of his total portfolio.
During the third quarter Van Den Berg cut his stake by -1.23%. The guru sold 20,438 shares in the price range of $26.48 to $33.29, with an estimated average quarterly price of $29.64 per share. The share price has since then dropped an additional -8.3%.
Van Den Berg’s historical holding history:
The company is a gold producer with significant operations and/or assets in the U.S., Australia, Peru, Indonesia, Ghana, New Zealand and Mexico.
Newmont’s historical revenue and net income:
Newmont Mining has a market cap of $13.28 billion. Its shares are currently trading at around $26.95 with a P/E ratio of 8.20, a P/S ratio of 1.50 and a P/B ratio of 1.20. Newmont Mining’s dividend yield is currently at 5.10%. The company had an annual average earnings growth of 12.6% over the past ten years.
Berkshire Hathaway (BRK.B)
Van Den Berg’s fourth largest position is in Berkshire Hathaway. The guru holds on to 383,915 shares, representing 0.02% of the company’s shares outstanding and 4.3% of his total portfolio.
The guru decreased his position in Berkshire Hathaway -1.44% over the second quarter. Van Den Berg sold 5,620 shares in the second quarter price range of $111.22 to $118.94, with an estimated average price of $115.36. Since then the share price has decreased approximately -2.2%.
Van Den Berg’s holding history as of the third quarter:
Berkshire Hathaway is a holding company owning subsidiaries engaged in a number of diverse business activities, including property and casualty insurance and reinsurance, utilities and energy, finance, manufacturing, service and retailing.
Berkshire Hathaway’s historical revenue and net income:
The Peter Lynch Chart suggests that the company is currently undervalued:
Berkshire Hathaway has a market cap of $261.88 billion. Its shares are currently trading at around $112.05 with a P/E ratio of 14.70, a P/S ratio of 1.50 and a P/B ratio of 1.30. The company had an annual average earnings growth of 7.8% over the past ten years.
GuruFocus rated Berkshire Hathaway the business predictability rank of 3-star.
Corning (GLW)
The guru’s fifth largest position is in Corning. The guru holds on to 2,948,875 shares, representing 0.20% of the company’s shares outstanding and 4.2% of his total portfolio.
During the second quarter Van Den Berg reduced his position -1.25% by selling a total of 37,355 shares. He sold these shares in the third quarter price range of $13.92 to $15.45, with an estimated average price of $14.81. The price per share has dropped about -2.2% since then.
Van Den Berg’s holding history as of the third quarter:
Corning is a provider of high-performance glass, optical fiber and cable and hardware and equipment products, ceramic substrates, laboratory products and specialized polymer products, advanced optical materials and other technologies.
Corning’s historical revenue and net income:
The Peter Lynch Chart suggests that Corning is currently undervalued:
Corning has a market cap of $20.64 billion. Its shares are currently trading at around $14.13 with a P/E ratio of 10.90, a P/S ratio of 2.70 and a P/B ratio of 1.00. The company had an annual average earnings growth of 10.3% over the past five years.
Check out Arnold Van Den Berg’s complete third quarter portfolio here.
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As of the third quarter Century Management held 64 stocks valued at $1.019 billion. The guru bought seven new stocks during the third quarter for a quarter-over-quarter turnover of 5%. The following five companies are the five largest stock positions held by Century Management as of the close of the third quarter.
Jacobs Engineering Group (JEC)
Van Den Berg’s largest position is in Jacobs Engineering where the guru holds on to 904,462 shares. His position in the company represents 0.69% of the company’s shares outstanding and 5.2% of his total portfolio.
During the third quarter Van Den Berg reduced his position by -1.54%. The guru sold a total of 14,125 shares in the third quarter price range of $54.56 to $62.33, with an estimated average price of $58.77. The price per share has dropped about -2.5% since then.
Van Den Berg’s historical holding history:
Jacobs Engineering is a professional services firm in the U.S. Its business focuses on providing a range of technical, professional and construction services to a large number of industrial, commercial and governmental clients around the world.
Jacobs Engineering’s historical revenue and net income:
The Peter Lynch Chart suggests that the company is currently overvalued:
Jacobs Engineering has a market cap of $7.44 billion. Its shares are currently trading at around $56.68 with a P/E ratio of 17.60, a P/S ratio of 0.70 and a P/B ratio of 1.80. The company had an annual average earnings growth of 12.3% over the past ten years.
Cisco Systems Inc (CSCO)
Van Den Berg’s second largest holding is in Cisco Systems where the guru maintains 2,079,674 shares of the company’s stock. His position represents 0.04% of the company’s shares outstanding and 4.8% of his total portfolio.
During the third quarter Van Den Berg reduced his holdings -1.64% by selling a total of 34,679 shares. He sold these shares in the third quarter price range of $23.31 to $26.38, with an estimated average price of $24.82. Since then the share price has decreased about -7.8%.
Van Den Berg’s historical holding history:
The company sells networking and communications products and provides related services. The company's two main products are switches and routers, but Cisco essentially touches everything in the networking industry, from security to storage to application switching.
Cisco’s historical revenue and net income:
The Peter Lynch Chart suggests that the company is currently undervalued:
Cisco Systems has a market cap of $122.55 billion. Its shares are currently trading at around $22.76 with a P/E ratio of 12.30, a P/S ratio of 2.50 and a P/B ratio of 2.10. The company had an annual average earnings growth of 8.4% over the past ten years.
GuruFocus rated Cisco the business predictability rank of 3.5-star.
Newmont Mining Corporation (NEM)
The guru’s third largest position is in Newmont Mining Corporation. The guru holds on to 1,647,646 shares, representing 0.33% of the company’s shares outstanding and 4.5% of his total portfolio.
During the third quarter Van Den Berg cut his stake by -1.23%. The guru sold 20,438 shares in the price range of $26.48 to $33.29, with an estimated average quarterly price of $29.64 per share. The share price has since then dropped an additional -8.3%.
Van Den Berg’s historical holding history:
The company is a gold producer with significant operations and/or assets in the U.S., Australia, Peru, Indonesia, Ghana, New Zealand and Mexico.
Newmont’s historical revenue and net income:
Newmont Mining has a market cap of $13.28 billion. Its shares are currently trading at around $26.95 with a P/E ratio of 8.20, a P/S ratio of 1.50 and a P/B ratio of 1.20. Newmont Mining’s dividend yield is currently at 5.10%. The company had an annual average earnings growth of 12.6% over the past ten years.
Berkshire Hathaway (BRK.B)
Van Den Berg’s fourth largest position is in Berkshire Hathaway. The guru holds on to 383,915 shares, representing 0.02% of the company’s shares outstanding and 4.3% of his total portfolio.
The guru decreased his position in Berkshire Hathaway -1.44% over the second quarter. Van Den Berg sold 5,620 shares in the second quarter price range of $111.22 to $118.94, with an estimated average price of $115.36. Since then the share price has decreased approximately -2.2%.
Van Den Berg’s holding history as of the third quarter:
Berkshire Hathaway is a holding company owning subsidiaries engaged in a number of diverse business activities, including property and casualty insurance and reinsurance, utilities and energy, finance, manufacturing, service and retailing.
Berkshire Hathaway’s historical revenue and net income:
The Peter Lynch Chart suggests that the company is currently undervalued:
Berkshire Hathaway has a market cap of $261.88 billion. Its shares are currently trading at around $112.05 with a P/E ratio of 14.70, a P/S ratio of 1.50 and a P/B ratio of 1.30. The company had an annual average earnings growth of 7.8% over the past ten years.
GuruFocus rated Berkshire Hathaway the business predictability rank of 3-star.
Corning (GLW)
The guru’s fifth largest position is in Corning. The guru holds on to 2,948,875 shares, representing 0.20% of the company’s shares outstanding and 4.2% of his total portfolio.
During the second quarter Van Den Berg reduced his position -1.25% by selling a total of 37,355 shares. He sold these shares in the third quarter price range of $13.92 to $15.45, with an estimated average price of $14.81. The price per share has dropped about -2.2% since then.
Van Den Berg’s holding history as of the third quarter:
Corning is a provider of high-performance glass, optical fiber and cable and hardware and equipment products, ceramic substrates, laboratory products and specialized polymer products, advanced optical materials and other technologies.
Corning’s historical revenue and net income:
The Peter Lynch Chart suggests that Corning is currently undervalued:
Corning has a market cap of $20.64 billion. Its shares are currently trading at around $14.13 with a P/E ratio of 10.90, a P/S ratio of 2.70 and a P/B ratio of 1.00. The company had an annual average earnings growth of 10.3% over the past five years.
Check out Arnold Van Den Berg’s complete third quarter portfolio here.
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