Financial Services is the most heavily weighted sector in HOTCHKIS & WILEY’s portfolio, and the guru’s most noteworthy fourth-quarter transaction was in that sector, but it was a divestiture, not an acquisition.
HOTCHKIS & WILEY sold its 2,466,713-share stake in Chubb Ltd. (CB, Financial), an insurance and finance company based in Zurich, for an average price of $118.27 per share. The divestiture had a -1.21% impact on the guru’s portfolio.
Chubb’s leading shareholder among the gurus is Pioneer Investments (Trades, Portfolio) with a stake of 1,771,461 shares. The stake is 0.38% of Chubb’s outstanding shares and 0.9% of Pioneer’s total assets.
Chubb has a P/E of 13.8, a forward P/E of 12.6, a P/B of 1.3 and a P/S of 2.1. GuruFocus gives Chubb a Financial Strength rating of 7/10 and a Profitability and Growth rating of 8/10.
Chubb sold for $119.61 per share Thursday.
HOTCHKIS & WILEY raised its stake in a company in the second-most heavily weighted sector in the guru’s portfolio, Technology. The guru boosted its stake in Hewlett Packard Enterprise Co. (HPE, Financial), a Palo Alto, California-based information technology company, by nearly 128% with the purchase of 19,222,116 shares for an average price of $14.76 per share. The transaction had a 1.19% impact on HOTCHKIS & WILEY’s portfolio.
The stake, now 34,288,946 shares, is 2% of Hewlett Packard’s outstanding shares and 2.12% of HOTCHKIS & WILEY’s total assets. Hewlett Packard’s leading shareholder among the gurus is Dodge & Cox with a stake of 217,529,528 shares. The stake is 12.67% of Hewlett Packard’s outstanding shares and 3.24% of Dodge & Cox’s total assets.
Hewlett Packard is the 10th-most valuable stake in HOTCHKIS & WILEY's portfolio.
Hewlett Packard has a P/E of 11.4, a forward P/E of 8.6, a P/B of 0.9 and a P/S of 0.6. GuruFocus gives Hewlett Packard a Financial Strength rating of 5/10 and a Profitability and Growth rating of 3/10.
Hewlett Packard sold for $17.57 per share Thursday.
Energy stocks occupy the fourth-most heavily weighted sector in HOTCHKIS & WILEY’s portfolio. The guru increased its position in such a stock, Hess Corp. (HES, Financial), an oil and gas company based in New York, by more than 60% with the purchase of 4,633,638 shares for an average price of $56.82 per share. The deal had a 0.91% impact on HOTCHKIS & WILEY’s portfolio.
The stake, now 12,317,196 shares, is 3.91% of Hess’ outstanding shares and 2.43% of the guru’s total assets. Paul Singer (Trades, Portfolio) is Hess’ leading shareholder among the gurus with a stake of 17.8 million shares. The stake is 5.65% of Hess’ outstanding shares and 10.55% of Singer’s total assets.
Hess is the eighth-most valuable stake in HOTCHKIS & WILEY's portfolio.
Hess has a P/B of 0.8 and a P/S of 2.2. GuruFocus gives Hess a Financial Strength rating of 3/10 and a Profitability and Growth rating of 4/10.
Hess sold for $52.10 per share Thursday.
HOTCHKIS & WILEY more than doubled its stake in NRG Energy Inc. (NRG, Financial), an electricity company with offices in Houston and West Windsor, New Jersey. The guru purchased 17,500,633 shares for an average price of $12.58 per share. The transaction had a 0.84% impact on HOTCHKIS & WILEY’s portfolio.
The stake, now 34,539,407 shares, is the largest among the gurus. It is 10.97% of NRG Energy’s outstanding shares and 1.65% of HOTCHKIS & WILEY’s total assets.
NRG Energy has a forward P/E of 26.4, a P/B of 1.5 and a P/S of 0.3. GuruFocus gives NRG Energy a Financial Strength rating of 3/10 and a Profitability and Growth rating of 6/10.
NRG Energy sold for $13.14 per share Thursday.
Stocks in the Industrials sector have a 10.4% weighting in HOTCHKIS & WILEY’s portfolio, which makes it the portfolio’s sixth-most heavily weighted sector. Even so, the guru boosted its stake in Cummins Inc. (CMI, Financial), a Columbus, Indiana-based heavy equipment company, by more than 49%. The guru bought 1,900,295 shares for an average price of $99.64 per share. The deal had a 0.68% impact on HOTCHKIS & WILEY’s portfolio.
The stake, now 5,773,243 shares, is the largest among the gurus. It is 3.31% of Cummins’ outstanding shares and 2.06% of the guru’s total assets.
Cummins has a P/E of 13.7, a forward P/E of 13.2, a P/B of 2.5 and a P/S of 1. GuruFocus gives Cummins a Financial Strength rating of 6/10 and a Profitability and Growth rating of 7/10.
Cummins sold for $107.4 per share Thursday.
HOTCHKIS & WILEY raised its stake in Corning Inc. (GLW, Financial), a glass and ceramic materials company based in Corning, New York, by almost 22% with the purchase of 8,794,094 shares. HOTCHKIS & WILEY paid an average price of $18.17 per share in a transaction that had a 0.65% impact on the guru’s portfolio.
The stake, now 49,338,425 shares, is 4.43% of Corning’s outstanding shares and 3.66% of HOTCHKIS & WILEY’s total assets. Corning’s leading shareholder among the gurus is Dodge & Cox with a stake of 57,804,025 shares. The stake is 5.19% of Corning’s outstanding shares and 1.04% of Dodge & Cox’s total assets.
Corning is the second-most valuable stake in HOTCHKIS & WILEY's portfolio.
Corning has a P/E of 20.9, a forward P/E of 12.3, a P/B of 1.4 and a P/S of 3. GuruFocus gives Corning a Financial Strength rating of 5/10 and a Profitability and Growth rating of 8/10.
Corning sold for $20.25 per share Thursday.
HOTCHKIS & WILEY made eight new buys in the fourth quarter. The most significant acquisition was the purchase of a 3,274,607-share stake in CBS Corp. (CBS, Financial), a mass media company based in New York, for an average price of $47.11 per share. The deal had a 0.63% impact on HOTCHKIS & WILEY’s portfolio.
The stake is 0.71% of CBS’ outstanding shares and 0.63% of HOTCHKIS & WILEY’s total assets. Larry Robbins (Trades, Portfolio) is CBS’ leading shareholder among the gurus with a stake of 8,657,912 shares. The stake is 1.88% of CBS’ outstanding shares and 2.3% of Robbins’ total assets.
CBS has a P/E of 18.8, a forward P/E of 12.2, a P/B of 4.5 and a P/S of 1.9. GuruFocus gives CBS a Financial Strength rating of 6/10 and a Profitability and Growth rating of 8/10.
CBS sold for $54.06 per share Thursday.
HOTCHKIS & WILEY reduced its stake in General Motors Co. (GM, Financial), a Detroit-based automotive company, by more than 25%. The guru sold 3,804,027 shares for an average price of $34.82 per share. The transaction had a -0.46% impact on the guru’s portfolio.
The remaining stake of 11,302,984 shares is 0.73% of General Motors’ outstanding shares and 1.56% of HOTCHKIS & WILEY’s total assets. General Motors’ leading shareholder among the gurus is Warren Buffett (Trades, Portfolio) with a stake of 50 million shares. The stake is 3.24% of General Motors’ outstanding shares and 1.29% of Buffett’s total assets.
General Motors has a P/E of 5.1, a forward P/E of 5.3, a P/B of 1.1 and a P/S of 0.3. GuruFocus gives General Motors a Financial Strength rating of 6/10 and a Profitability and Growth rating of 4/10.
General Motors sold for $30.96 per share Thursday.
HOTCHKIS & WILEY sold more than 67% of its stake in The Interpublic Group of Companies Inc. (IPG, Financial), a New York-based advertising agency. The guru sold 5,435,195 shares for an average price of $22.55 per share. The deal had a -0.42% impact on HOTCHKIS & WILEY’s portfolio.
The remaining stake of 2,631,269 shares is 0.65% of the stock’s outstanding shares and 0.25% of HOTCHKIS & WILEY’s total assets. Singer is the company’s leading shareholder among the gurus with a stake of 20,015,326 shares. The stake is 4.98% of the stock’s outstanding shares and 5.7% of Singer’s total assets.
The Interpublic Group of Companies has a P/E of 19.6, a forward P/E of 14.3, a P/B of 4.4 and a P/S of 1.2. GuruFocus gives The Interpublic Group of Companies a Financial Strength rating of 5/10 and a Profitability and Growth rating of 8/10.
The Interpublic Group of Companies sold for $21.52 per share Thursday.
HOTCHKIS & WILEY sold more than 25% of its stake in Unum Group (UNM, Financial), an insurance company based in Chattanooga, Tennessee. The guru sold 3,037,851 shares for an average price of $34.54 per share. The transaction had a -0.39% impact on HOTCHKIS & WILEY’s portfolio.
The remaining stake of 9,057,587 shares is the largest among the gurus. It is 3.79% of Unum’s outstanding shares and 1.22% of the guru’s total assets.
Unum has a P/E of 8.8, a forward P/E of 7.6, a P/B of 0.9 and a P/S of 0.7. GuruFocus gives Unum a Financial Strength rating of 6/10 and a Profitability and Growth rating of 7/10.
Unum sold for $30.8 per share Thursday.
HOTCHKIS & WILEY trimmed its stake in JPMorgan Chase & Co. (JPM, Financial), a banking and financial services company based in New York, by nearly 14% with the sale of 1,546,137 shares for an average price of $65.22 per share. The deal had a -0.38% impact on the guru’s portfolio.
The remaining stake of 9,675,851 shares is 0.26% of JPMorgan Chase’s outstanding shares and 2.6% of the guru’s total assets. Barrow, Hanley, Mewhiney & Strauss is JPMorgan Chase’s leading shareholder among the gurus with a stake of 31,244,912 shares. The stake is 0.85% of JPMorgan Chase’s outstanding shares and 3.07% of the guru’s total assets.
JPMorgan Chase is the sixth-most valuable stake in HOTCHKIS & WILEY's portfolio.
JPMorgan Chase has a P/E of 9.9, a forward P/E of 9.4, a P/B of 1 and a P/S of 2.4. GuruFocus gives JPMorgan Chase a Financial Strength rating of 4/10 and a Profitability and Growth rating of 5/10.
JPMorgan Chase sold for $59.48 per share Thursday.
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