Larry Robbins made seven new buys in the third quarter.
Robbins founded Glenview Capital Management in 2000 as a privately held investment management firm and is focused on delivering attractive absolute returns through an intense focus on deep fundamental research and individual security selection.
Here are the seven stocks that got new positions in Robbins' portfolio in the third quarter.
The largest new buy was Agilent Technologies Inc. (A). He established the position in the company in Q3 2011 and sold his stake in the next quarter. In the third quarter he bought 4,585,170 shares at $37.84 per share. The deal had an impact of 0.78% on his portfolio, and the stock price went up 8%. Currently it is trading at $40.83.
The company is a measurement company, providing core bioanalytical and electronic measurement solutions to the life sciences, chemical analysis, communications and electronics industries. Agilent has a market cap of $13.58 billion and an enterprise value of $13.4 billion. It has a P/E of 48.85, a forward P/E of 21.74, a P/B of 43.70 and a P/S of 2.01.
The rating of Agilent’s profitability is 8/10 and is confirmed by its strong returns that are outperforming the Global Diagnostics & Research industry.
RS Investment Management (Trades, Portfolio), Andreas Halvorsen (Trades, Portfolio) and Louis Moore Bacon (Trades, Portfolio) made Agilent a new buy in the third quarter.
Robbins also bought 14,788,333 shares in Sirius XM Holdings Inc. (SIRI). The stock has been in the portfolio since 2012, then lost its position in the first quarter. This quarter it got a new position at $3.83 per share. The deal had an impact of 0.27% on his portfolio, and the stock price went up 4%. Currently it is trading at $4.00.
Sirius XM broadcasts its music, sports, news, talk, entertainment, traffic and weather channels in the U.S. for a subscription fee through its proprietary satellite radio systems: the SIRIUS system and the XM system. The company has a market cap of $20.9 million and an enterprise value of $26.26 billion. It has a P/E of 41.78, a forward P/E of 25.77, a P/B of 401.00 and a P/S of 4.91.
The rating of Sirius XM's profitability is 6/10 and is confirmed by its good returns that are outperforming the Global Broadcasting - Radio industry.
Paul Tudor Jones (Trades, Portfolio) is another guru who acquired a position in the company in this quarter.
Canadian Pacific Railway Ltd. (CP) was another new buy for Robbins. The stock was in the portfolio since 2012, then lost its position in Q3 2013. This quarter he bought 245,629 shares at $150.79 per share. The deal had an impact of 0.18%, and the stock price dropped by 18%. Currently it is trading at $123.52.
Canadian Pacific Railway provides freight transportation services, logistics solutions and supply chain expertise in Canada and the U.S. The company operates in only one operating segment: rail transportation. It has a market cap of $19.73 million and an enterprise value of $26.33 million. It has a P/E of 19.30, a forward P/E of 14.51, a P/B of 6.67 and a P/S of 4.23.
The rating of Canadian Pacific Railway’s profitability is 7/10 and is confirmed by its strong returns that are outperforming the Global Railroads industry.
Whitney Tilson (Trades, Portfolio) was another investor who got a new position in the company. Louis Moore Bacon (Trades, Portfolio) and Steven Cohen (Trades, Portfolio) increased their stakes by 9.67% and 31.12%.
Robbins acquired a 202,104-share stake in Charter Communications Inc. (CHTR). He initiated buying the stock in Q4 2012; later, in Q2 2014, he sold his stake. This quarter he established a new position at $182.33 per share. The deal had an impact of 0.18% on his portfolio, and the stock price dropped 1%. Currently it is trading at $180.05.
Charter Communications is a cable operator that provides services in the U.S. for residential and commercial customers. It has a market cap of $20.8 billion and an enterprise value of $54.4 billion. It has a forward P/E of 256.41, a P/B of 349.65 and a P/S of 2.15.
The rating of Charter Communications’ profitability is 6/10, but its negative returns are underperforming the Global Pay TV industry.
Jeremy Grantham (Trades, Portfolio), First Eagle Investment (Trades, Portfolio), RS Investment Management (Trades, Portfolio), Diamond Hill Capital (Trades, Portfolio) and George Soros (Trades, Portfolio) made Charter Communications a new buy in the third quarter.
Robbins also bought 301,778 shares in Apple Inc. (AAPL). The stock has had a position in the portfolio off and on since 2011. This quarter he bought new shares at an average price of $117.3. The deal had an impact of 0.17% on his portfolio, and the stock price dropped 8%. Currently it is trading at $107.33.
Apple designs, manufactures and markets mobile communication and media devices, personal computers and portable digital music players and sells a variety of related software, services, accessories, networking solutions and third-party digital content and applications. The company has a market cap of $644.62 million and an enterprise value of $663.44 billion. It has a P/E of 13.30, a forward P/E of 11.83, a P/B of 5.40 and a P/S of 2.86.
The rating of Apple’s profitability is 9/10 and is confirmed by its strong returns that are outperforming the Global Consumer Electronics industry.
John Griffin (Trades, Portfolio) and Richard Snow (Trades, Portfolio) acquired positions in the company in the third quarter. The stock also faced huge increases of 200.00% by John Burbank (Trades, Portfolio) and 80.39% Murray Stahl (Trades, Portfolio).
Kindred Healthcare Inc. (KND) was another new buy for Robbins. In the third quarter he bought 1,712,613 shares at $20.23 per share. The deal had an impact of 0.13% on the portfolio. The stock price dropped by 42% and currently is trading at $11.77.
Kindred Healthcare is a health care services company that, through its subsidiaries, operates transitional care (TC) hospitals, inpatient rehabilitation hospitals (IRFs), nursing centers, assisted living facilities, a contract rehabilitation services business and a home health and hospice business across the U.S. The company has a market cap of $1.08 billion and an enterprise value of $4.23 billion. It has a forward P/E of 10.47, a P/B of 0.75 and a P/S of 0.16.
The rating of Kindred Healthcare’s profitability is 3/10 and is confirmed by its negative returns that are underperforming the Global Long-Term Care Facilities industry.
Larry Robbins (Trades, Portfolio) was the only guru who got a new position in the company while Steven Cohen (Trades, Portfolio), Jim Simons (Trades, Portfolio), Chuck Royce (Trades, Portfolio) and Mario Gabelli (Trades, Portfolio) increased their stakes.
Robbins acquired a 3,508,770-share stake in TerraForm Global Inc. (GLBL) at $9.69 per share. The deal had an impact of 0.12% on his portfolio, and the stock price dropped by 40%. Currently it is trading at $5.84.
TerraForm Global has a market cap of $788.78 million and an enterprise value of $1.44 billion. It has a forward P/E of 16.89, a P/B of 0.85 and a P/S of 6.00.
The rating of TerraForm Global’s profitability is 4/10 and is confirmed by its negative returns that are underperforming the Global Utilities - Independent Power Producers industry.
Leon Cooperman (Trades, Portfolio), Ron Baron (Trades, Portfolio), David Einhorn (Trades, Portfolio), Steven Cohen (Trades, Portfolio), James Barrow (Trades, Portfolio) and Paul Tudor Jones (Trades, Portfolio) are other gurus who made TerraForm Global a new buy in the third quarter.
