Guru John Burbank of Passport Capital, a near $3 billion global investment firm, reported a rather busy couple of months during the third quarter. The guru is currently averaging a 12-month return of 24.26% and a quarter-over-quarter turnover of 21%. The fund typically favors a strategy that is centered on macroeconomic analysis and fundamental research.
Over the past quarter Burbank purchased 63 new stocks, setting his portfolio holdings at 139 stocks valued at $3.092 billion. The following three companies represent the largest increases John Burbank made to individual stocks over the third quarter. Burbank more than doubled his holdings in each of the following three stocks.
Hertz Global Holdings (HTZ)
Burbank made his largest increase in the car rental company Hertz Global Holdings. The guru upped his position 1047.11% by purchasing a total of 2,198,934 shares of the company’s stock. He bought these shares in the third quarter price range of $21.63 to $27.66, with an estimated average quarterly price of $25.56. Since then the price per share has dropped approximately -8.4%.
The guru bought into Hertz during the second quarter and has since then seen average losses of -8% on his shares purchased. Burbank now holds on to 2,408,934 shares of Hertz Global, representing 1.7% of his total portfolio and 0.60% of Hertz’s shares outstanding.
Burbank’s historical holding history:
Hertz is a successor to corporations that have been engaged in the car and truck rental and leasing business. The company owns worldwide airport general use car rental brand and equipment rental businesses in the US and Canada.
Hertz’s historical revenue and net income:
There is only one warning sign that the GuruFocus analysis reports which is that the company’s revenue has been in decline over the past five years.
Top guru shareholders of Hertz Global Holdings:
1. Columbia Wanger: 8,443,600 shares, representing 2.1% of the company’s shares outstanding.
2. John Griffin: 3,960,000 shares, representing 0.99% of the company’s shares outstanding.
3. John Burbank: 2,408,934 shares, representing 0.6% of the company’s shares outstanding.
The Peter Lynch Chart suggests that the company is currently overvalued:
Hertz Global Holdings has a market cap of $10.51 billion. Its shares are currently trading at around $23.42 with a P/E ratio of 33.70, a P/S ratio of 1.00 and a P/B ratio of 3.40. The company had an annual average earnings growth of 10.30% over the past ten years.
Enbridge (ENB)
The guru’s second largest increase was in the oil and gas midstream company Enbridge. Burbank upped his holdings 127.52% by purchasing 63,855 shares. He bought these shares in the quarterly price range of $40.53 to $45.38, with an estimated average quarterly price of $42.58. Since his buy, the price per share has dropped an additional -1.2%.
Burbank also purchased his initial shares in Enbridge during the second quarter and has since then seen average losses of -1.2%. As of the close of the third quarter Burbank held on to 113,930 shares of Enbridge, representing 0.15% of his total portfolio as well as 0.01% of the company’s shares outstanding.
Burbank’s historical holding history:
Enbridge’s main business activities are the transportation and distribution of crude oil and natural gas. The company's activities are carried out through various business segments namely Liquids Pipelines, Gas Distribution, Gas Pipelines, Processing and Energy Services, Sponsored Investments and Corporate.
Enbridge’s historical revenue and net income:
The analysis on Enbridge reports that the company’s price is near its 10-year high, the company has issued CAD5.1 billion of debt over the past three years, its revenue and earnings have shown predictable growth and its P/B and P/S ratios are trading at near historical lows.
The top guru shareholders of Enbridge:
1. Jim Simons: 494,100 shares, representing 0.06% of the company’s shares outstanding.
2. Ray Dalio: 182,400 shares, representing 0.02% of the company’s shares outstanding.
3. Jeremy Grantham: 147,300 shares, representing 0.02% of the company’s shares outstanding.
The Peter Lynch Chart suggests that the company is currently overvalued:
Enbridge has a market cap of $34.85 billion. Its shares are currently trading at around $42.08 with a P/E ratio of 42.40, a P/S ratio of 1.10 and a P/B ratio of 4.50. Enbridge currently holds a dividend yield of 2.90%. The company had an annual average earnings growth of 7.30% over the past ten years.
GuruFocus rated Enbridge the business predictability rank of 4.5-star.
NRG Energy (NRG)
Burbank’s third largest increase came from NRG Energy where he increased his holdings by 116.66%. The guru purchased a total of 793,740 shares of the company’s stock in the third quarter price range of $25.52 to $29.08 per share. The estimated average quarterly price was calculated to be $27.02 per share and since then the price per share has gained a slight 0.8%.
Burbank bought in to NRG Energy during the second quarter and has since then seen average gains of 1% on shares purchased. The guru holds on to 1,474,118 shares of NRG as of the third quarter, representing 1.3% of his total portfolio and 0.46% of the company’s shares outstanding.
Burbank’s historical holding history:
NRG Energy is a wholesale power generation and retail electricity company which produce and deliver energy and energy services in major competitive power markets in the U.S. The company is engaged in the ownership and operation of power generation facilities; the trading of energy, capacity and related products; and the transacting in and trading of fuel and transportation services.
NRG Energy’s historical revenue and net income:
The analysis on NRG Energy reports that the company’s revenue has been in decline over the past year, its price is trading at around its 5-year high and they have issued $2.1 billion of debt over the past three years. On the other hand the analysis also notes that NRG’s dividend yield is at a 2-year high and the company holds a high Piotroski F-Score.
The Peter Lynch Chart suggests that NRG Energy is currently undervalued:
NRG Energy has a market cap of $8.81 billion. Its shares are currently trading at around $27.24 with a P/E ratio of 14.90, a P/S ratio of 0.80 and a P/B ratio of 3.40. The company’s dividend yield is currently at 1.70%.
Check out the entirety of John Burbank’s third quarter portfolio.
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Over the past quarter Burbank purchased 63 new stocks, setting his portfolio holdings at 139 stocks valued at $3.092 billion. The following three companies represent the largest increases John Burbank made to individual stocks over the third quarter. Burbank more than doubled his holdings in each of the following three stocks.
Hertz Global Holdings (HTZ)
Burbank made his largest increase in the car rental company Hertz Global Holdings. The guru upped his position 1047.11% by purchasing a total of 2,198,934 shares of the company’s stock. He bought these shares in the third quarter price range of $21.63 to $27.66, with an estimated average quarterly price of $25.56. Since then the price per share has dropped approximately -8.4%.
The guru bought into Hertz during the second quarter and has since then seen average losses of -8% on his shares purchased. Burbank now holds on to 2,408,934 shares of Hertz Global, representing 1.7% of his total portfolio and 0.60% of Hertz’s shares outstanding.
Burbank’s historical holding history:
Hertz is a successor to corporations that have been engaged in the car and truck rental and leasing business. The company owns worldwide airport general use car rental brand and equipment rental businesses in the US and Canada.
Hertz’s historical revenue and net income:
There is only one warning sign that the GuruFocus analysis reports which is that the company’s revenue has been in decline over the past five years.
Top guru shareholders of Hertz Global Holdings:
1. Columbia Wanger: 8,443,600 shares, representing 2.1% of the company’s shares outstanding.
2. John Griffin: 3,960,000 shares, representing 0.99% of the company’s shares outstanding.
3. John Burbank: 2,408,934 shares, representing 0.6% of the company’s shares outstanding.
The Peter Lynch Chart suggests that the company is currently overvalued:
Hertz Global Holdings has a market cap of $10.51 billion. Its shares are currently trading at around $23.42 with a P/E ratio of 33.70, a P/S ratio of 1.00 and a P/B ratio of 3.40. The company had an annual average earnings growth of 10.30% over the past ten years.
Enbridge (ENB)
The guru’s second largest increase was in the oil and gas midstream company Enbridge. Burbank upped his holdings 127.52% by purchasing 63,855 shares. He bought these shares in the quarterly price range of $40.53 to $45.38, with an estimated average quarterly price of $42.58. Since his buy, the price per share has dropped an additional -1.2%.
Burbank also purchased his initial shares in Enbridge during the second quarter and has since then seen average losses of -1.2%. As of the close of the third quarter Burbank held on to 113,930 shares of Enbridge, representing 0.15% of his total portfolio as well as 0.01% of the company’s shares outstanding.
Burbank’s historical holding history:
Enbridge’s main business activities are the transportation and distribution of crude oil and natural gas. The company's activities are carried out through various business segments namely Liquids Pipelines, Gas Distribution, Gas Pipelines, Processing and Energy Services, Sponsored Investments and Corporate.
Enbridge’s historical revenue and net income:
The analysis on Enbridge reports that the company’s price is near its 10-year high, the company has issued CAD5.1 billion of debt over the past three years, its revenue and earnings have shown predictable growth and its P/B and P/S ratios are trading at near historical lows.
The top guru shareholders of Enbridge:
1. Jim Simons: 494,100 shares, representing 0.06% of the company’s shares outstanding.
2. Ray Dalio: 182,400 shares, representing 0.02% of the company’s shares outstanding.
3. Jeremy Grantham: 147,300 shares, representing 0.02% of the company’s shares outstanding.
The Peter Lynch Chart suggests that the company is currently overvalued:
Enbridge has a market cap of $34.85 billion. Its shares are currently trading at around $42.08 with a P/E ratio of 42.40, a P/S ratio of 1.10 and a P/B ratio of 4.50. Enbridge currently holds a dividend yield of 2.90%. The company had an annual average earnings growth of 7.30% over the past ten years.
GuruFocus rated Enbridge the business predictability rank of 4.5-star.
NRG Energy (NRG)
Burbank’s third largest increase came from NRG Energy where he increased his holdings by 116.66%. The guru purchased a total of 793,740 shares of the company’s stock in the third quarter price range of $25.52 to $29.08 per share. The estimated average quarterly price was calculated to be $27.02 per share and since then the price per share has gained a slight 0.8%.
Burbank bought in to NRG Energy during the second quarter and has since then seen average gains of 1% on shares purchased. The guru holds on to 1,474,118 shares of NRG as of the third quarter, representing 1.3% of his total portfolio and 0.46% of the company’s shares outstanding.
Burbank’s historical holding history:
NRG Energy is a wholesale power generation and retail electricity company which produce and deliver energy and energy services in major competitive power markets in the U.S. The company is engaged in the ownership and operation of power generation facilities; the trading of energy, capacity and related products; and the transacting in and trading of fuel and transportation services.
NRG Energy’s historical revenue and net income:
The analysis on NRG Energy reports that the company’s revenue has been in decline over the past year, its price is trading at around its 5-year high and they have issued $2.1 billion of debt over the past three years. On the other hand the analysis also notes that NRG’s dividend yield is at a 2-year high and the company holds a high Piotroski F-Score.
The Peter Lynch Chart suggests that NRG Energy is currently undervalued:
NRG Energy has a market cap of $8.81 billion. Its shares are currently trading at around $27.24 with a P/E ratio of 14.90, a P/S ratio of 0.80 and a P/B ratio of 3.40. The company’s dividend yield is currently at 1.70%.
Check out the entirety of John Burbank’s third quarter portfolio.
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