Boston Partners recently filed their 13F report for the fourth quarter of 2022, which ended on 2022-12-31.
The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, though investors should note that these filings are limited in scope, containing only a snapshot of long positions in U.S.-listed stocks and American depository receipts as of the quarter’s end. They are not required to include international holdings, short positions or other types of investments. Still, even this limited filing can provide valuable information.
Boston Partners is a privately owned investment manager that is a part of Robeco Group, which is intern largely owned by ORIX Corporation. The firm was founded in 1995 and currently employees 136 people, with 42 of them being investment professionals. Within the company, the business operations are done under a “flat management structure that empowers our analysts and portfolio managers to research and construct their investment recommendations and portfolios within a specific and well-defined set of investment principles.” The firm has three main direct divisions that conduct its investment managing business. Boston Partners holds approximately $75 billion in client assets under management, split between the three main divisions with Boston Partners having $72.6 billion, WPG Partners having $1.3 billion, and Redwood having over $600 million. Boston Partners, the largest of the three divisions, handles the company’s core offerings of value equities. To select its securities, the division utilizes bottom up fundamental research with quantitative analysis, focusing on the valuation, fundamentals, and momentum of the businesses. WPG Partners specializes in small and micro-cap investing and is led by Richard Shuster and Greg Weiss. To select its investments, the division focuses on consistent track records and methodologies, knowledge of pricing within segments, and the capability of companies to change positively. Redwood, the smallest and most recently acquired division, develops its “absolute return strategy that seeks to combine fundamental security analysis with management of equity volatility to produce performance with stability.” The division focuses on investments in companies that can produce 6-9% market cycle returns and have half the volatility of the broad equity market according to the S&P 500 Index, focusing on its capabilities to deliver downside protection. Some of the company’s mutual funds include its All-Cap Value Fund, Long and Short Equity Fund, Long and Short Research Fund, and Global Long and Short Fund.
As of the latest 13F report, the guru’s equity portfolio contained 696 stocks valued at a total of $73.92Bil. The top holdings were JNJ(2.07%), JPM(1.77%), and AZO(1.77%).
According to GuruFocus data, these were Boston Partners’s top five trades of the quarter.
Haymaker Acquisition Corp III
The guru established a new position worth 988,528 shares in NAS:HYACU, giving the stock a 0.01% weight in the equity portfolio. Shares traded for an average price of $10.1 during the quarter.
On 02/08/2023, Haymaker Acquisition Corp III traded for a price of $10.1 per share and a market cap of $0.00Mil. The stock has returned 1.20% over the past year.
GuruFocus gives the company a financial strength rating of 8 out of 10 and a profitability rating of 2 out of 10.
In terms of valuation, Haymaker Acquisition Corp III has a price-earnings ratio of 17.90, a price-book ratio of 1.21 and a EV-to-Ebitda ratio of -80.37.
ConocoPhillips
Boston Partners reduced their investment in NYSE:COP by 5,615,079 shares. The trade had a 0.85% impact on the equity portfolio. During the quarter, the stock traded for an average price of $121.55.
On 02/08/2023, ConocoPhillips traded for a price of $111.8 per share and a market cap of $136.83Bil. The stock has returned 26.72% over the past year.
GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 7 out of 10.
In terms of valuation, ConocoPhillips has a price-earnings ratio of 7.71, a price-book ratio of 2.90, a price-earnings-to-growth (PEG) ratio of 0.31, a EV-to-Ebitda ratio of 3.91 and a price-sales ratio of 1.81.
The price-to-GF Value ratio is 0.80, earning the stock a GF Value rank of 10.
Meta Platforms Inc
The guru sold out of their 3,203,564-share investment in NAS:META. Previously, the stock had a 0.63% weight in the equity portfolio. Shares traded for an average price of $117.43 during the quarter.
On 02/08/2023, Meta Platforms Inc traded for a price of $186.12 per share and a market cap of $482.54Bil. The stock has returned -15.10% over the past year.
GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, Meta Platforms Inc has a price-earnings ratio of 21.69, a price-book ratio of 3.87, a price-earnings-to-growth (PEG) ratio of 1.41, a EV-to-Ebitda ratio of 12.77 and a price-sales ratio of 4.42.
The price-to-GF Value ratio is 0.50, earning the stock a GF Value rank of 4.
Bristol-Myers Squibb Co
During the quarter, Boston Partners bought 3,627,705 shares of NYSE:BMY for a total holding of 13,794,089. The trade had a 0.35% impact on the equity portfolio. During the quarter, the stock traded for an average price of $75.40000000000001.
On 02/08/2023, Bristol-Myers Squibb Co traded for a price of $73.55 per share and a market cap of $156.38Bil. The stock has returned 14.74% over the past year.
GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, Bristol-Myers Squibb Co has a price-earnings ratio of 24.93, a price-book ratio of 4.79, a price-earnings-to-growth (PEG) ratio of 3.12, a EV-to-Ebitda ratio of 9.95 and a price-sales ratio of 3.39.
The price-to-GF Value ratio is 0.97, earning the stock a GF Value rank of 6.
Dominion Energy Inc
The guru sold out of their 3,453,360-share investment in NYSE:D. Previously, the stock had a 0.35% weight in the equity portfolio. Shares traded for an average price of $62.8 during the quarter.
On 02/08/2023, Dominion Energy Inc traded for a price of $58.838 per share and a market cap of $49.03Bil. The stock has returned -22.78% over the past year.
GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 7 out of 10.
In terms of valuation, Dominion Energy Inc has a price-earnings ratio of 21.09, a price-book ratio of 1.83, a EV-to-Ebitda ratio of 14.10 and a price-sales ratio of 3.02.
The price-to-GF Value ratio is 0.72, earning the stock a GF Value rank of 10.
Please note, the numbers and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.
When GuruFocus covers insider information, we only track open market or the private purchase and sale of common stock with the transaction code of P or S. Therefore, all the transactions mentioned in this article are only the ones with transaction code of P or S.
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