In the second quarter, Jerome Dodson (Trades, Portfolio)’s Parnassus Investments invested in four new companies for its Parnassus Fund, according to its portfolio update this week.
Dodson founded Parnassus in 1984 and acts as it chairman and CEO, overseeing the Parnassus Fund that launched the same year and the Parnassus endeavor Fund, started in 2005. The $1.04 billion Parnassus Fund limits its holdings to around 40 that they judge have strong competitive advantages, long-term relevance, high-quality management and below-intrinsic value share prices. It also avoids fossil-fuel stocks. Year to date, Parnassus Fund has returned 10.32%, beating the 9.36% return in the S&P 500 index. Over the past 10 years, it produced a 10.27% average annual total return versus the 4.67% return of the S&P 500.
Dodson purchased shares of these four companies in the second quarter: Mattel Inc. (MAT, Financial), Public Storage (PSA, Financial), Hannon Armstrong Sustainable Infrastructure Capital (HASI, Financial) and PPG Industries Inc. (PPG, Financial).
Dodson purchased 1.2 million shares of Mattel, giving it a 2.6% weighting of the portfolio’s stocks. Mattel’s price per share in the second quarter averaged $23.
Mattel Inc. has a market cap of $7.1 billion; its shares were traded around $20.74 Thursday with a P/E ratio of 26.24 and P/S ratio of 1.35. The trailing 12-month dividend yield of Mattel Inc. stocks is 7.33%. The forward dividend yield of Mattel Inc. stocks is 2.87%. Mattel Inc. had annual average earnings growth of 1.3% over the past 10 years.
Public Storage (PSA, Financial)
Dodson purchased 100,000 shares of Public Storage, giving it 2.1% weighting. Public Storage’s price per share averaged $215.
Public Storage has a market cap of $35.63 billion; its shares were traded around $204.93 Thursday with a P/E ratio of 29.11 and P/S ratio of 13.73. The trailing 12-month dividend yield of Public Storage stocks is 3.8%. The forward dividend yield of Public Storage stocks is 3.88%. Public Storage had annual average earnings growth of 6.6% over the past 10 years.
Hannon Armstrong Sustainable Infrastructure Capital (HASI, Financial)
Dodson Purchased 455,000 shares of Hannon Armstrong Sustainable Infrastructure Capital, giving it 1.05% weighting. The company’s price per share averaged $22.
Hannon Armstrong Sustainable Infrastructure Capita has a market cap of $1.17 billion; its shares were traded around $22.69 Thursday with a P/E ratio of 58.14 and P/S ratio of 11.43. The trailing 12-month dividend yield of Hannon Armstrong Sustainable Infrastructure Capital stocks is 5.69%. The forward dividend yield of Hannon Armstrong Sustainable Infrastructure Capita stocks is 5.75%.
PPG Industries Inc. (PPG, Financial)
Dodson purchased 89,674 shares of PPG Industries, giving it 0.99% weighting. PPG Industries’ price per share averaged $108.
PPG Industries Inc. has a market cap of $28.81 billion; its shares were traded around $112.47 Thursday with a P/E ratio of 34.39 and P/S ratio of 1.99. The trailing 12-month dividend yield of PPG Industries Inc. stocks is 1.42%. The forward dividend yield of PPG Industries Inc. stocks is 1.43%. PPG Industries Inc had an annual average earnings growth of 4.30% over the past 10 years. GuruFocus rated PPG Industries Inc. the business predictability rank of 3.5-star.
See Jerome Dodson (Trades, Portfolio)’s portfolio here.
