As FPA Crescent Fund’s portfolio manager, investment Guru Steve Romick has made updates to his portfolio picks for the end of the third quarter. Below are the four companies of which he made stock reductions.
PetSmart Inc. (PETM)
Romick has made a 40 percent reduction to his PetSmart holding, selling more than 838,000 shares at $69.20 per share. The total transaction amount was more than $58 million; Romick currently holds 1,238,200 PetSmart shares.
PetSmart is a large specialty pet retailer of services and solutions, operating more than 1,200 pet stores in the U.S., Canada and Puerto Rico. In addition to providing pet supplies, pet grooming and dog training services, it also operates 194 in-store PetSmart PetsHotel facilities in select stores. PetSmart has a market cap of $7.5 billion, a P/E (ttm) ratio of 22.3, a P/B ratio of 6.6 and a P/S ratio of 1.2. With a Business Predictability rank of four out of five stars, it has a Financial Strength rank of 9 out of 10 and a Profitability and Growth rank of 8 out of 10.
Walmart Stores Inc. (WMT)
Romick has made a 27.9 percent reduction of his Walmart holding, selling 775,000 of his shares at a trading price of $75.66. The total transaction amount was about $58.6 million; Romick currently holds 2 million Walmart shares.
Walmart is a large retailer that operates in 27 countries, and serves more than 200 million customers per week. It has a market cap of $254.83 billion and maintains a P/E (ttm) ratio of 15.5, a P/S ratio of 0.6 and a P/B ratio of 3.4. With a Business Predictability rank of five stars, it has a Financial Strength rank of 7 out of 10 and a Profitability and Growth rank of 8 out of 10.
Ensco Plc (ESV)
Romick has made a 29.53 percent reduction to his Ensco holding, selling more than 91,000 shares at a trading price of $55.24. The total transaction amount was about $58.5 million; Romick currently holds 2,530,000 Ensco shares.
Ensco is a global provider of offshore drilling services to the petroleum industry, with a major presence in strategic offshore basins across six continents. Ensco has a market cap of $12.78 billion, a P/E (ttm) ratio of 12.2, a P/B ratio of 1.1 and a P/S ratio of 6.2. With a business predictability rank of 1 out of 5 stars, it has a Financial Strength rank of 5 out of 10 and a Profitability and Growth rank of 5 out of 10.
The Travelers Companies Inc. (TRV)
Romick has made a 20.1 percent reduction to his holding of the Travelers Companies, selling more than 312,000 shares at a trading price of $68.93. The total transaction amount was about $21.5 million; Romick currently holds 1,242,400 Travelers shares.
Travelers is a provider of auto, home and business property casualty insurance. The company’s business line spans globally, selling its coverage primarily through independent agents and contractors. Travelers has a market cap of $26.48 billion, a P/E (ttm) ratio of 11.9, a P/B ratio of 1.1, and a P/S ratio of 1. With a Business Predictability Rank of 1 out of 5 stars, it has a Financial Strength rank of 5 out of 10, and a Profitability and Growth rank of 8 out of 10.
PetSmart Inc. (PETM)
Romick has made a 40 percent reduction to his PetSmart holding, selling more than 838,000 shares at $69.20 per share. The total transaction amount was more than $58 million; Romick currently holds 1,238,200 PetSmart shares.
PetSmart is a large specialty pet retailer of services and solutions, operating more than 1,200 pet stores in the U.S., Canada and Puerto Rico. In addition to providing pet supplies, pet grooming and dog training services, it also operates 194 in-store PetSmart PetsHotel facilities in select stores. PetSmart has a market cap of $7.5 billion, a P/E (ttm) ratio of 22.3, a P/B ratio of 6.6 and a P/S ratio of 1.2. With a Business Predictability rank of four out of five stars, it has a Financial Strength rank of 9 out of 10 and a Profitability and Growth rank of 8 out of 10.
Walmart Stores Inc. (WMT)
Romick has made a 27.9 percent reduction of his Walmart holding, selling 775,000 of his shares at a trading price of $75.66. The total transaction amount was about $58.6 million; Romick currently holds 2 million Walmart shares.
Walmart is a large retailer that operates in 27 countries, and serves more than 200 million customers per week. It has a market cap of $254.83 billion and maintains a P/E (ttm) ratio of 15.5, a P/S ratio of 0.6 and a P/B ratio of 3.4. With a Business Predictability rank of five stars, it has a Financial Strength rank of 7 out of 10 and a Profitability and Growth rank of 8 out of 10.
Ensco Plc (ESV)
Romick has made a 29.53 percent reduction to his Ensco holding, selling more than 91,000 shares at a trading price of $55.24. The total transaction amount was about $58.5 million; Romick currently holds 2,530,000 Ensco shares.
Ensco is a global provider of offshore drilling services to the petroleum industry, with a major presence in strategic offshore basins across six continents. Ensco has a market cap of $12.78 billion, a P/E (ttm) ratio of 12.2, a P/B ratio of 1.1 and a P/S ratio of 6.2. With a business predictability rank of 1 out of 5 stars, it has a Financial Strength rank of 5 out of 10 and a Profitability and Growth rank of 5 out of 10.
The Travelers Companies Inc. (TRV)
Romick has made a 20.1 percent reduction to his holding of the Travelers Companies, selling more than 312,000 shares at a trading price of $68.93. The total transaction amount was about $21.5 million; Romick currently holds 1,242,400 Travelers shares.
Travelers is a provider of auto, home and business property casualty insurance. The company’s business line spans globally, selling its coverage primarily through independent agents and contractors. Travelers has a market cap of $26.48 billion, a P/E (ttm) ratio of 11.9, a P/B ratio of 1.1, and a P/S ratio of 1. With a Business Predictability Rank of 1 out of 5 stars, it has a Financial Strength rank of 5 out of 10, and a Profitability and Growth rank of 8 out of 10.
