Aew Capital Management LP Cut Position in Piedmont Office Realty Trust (PDM) by $1.53 Million; As Caterpillar (CAT) Stock Price Declined, River & Mercantile Asset Management Llp Has Cut Its Stake

June 15, 2018 - By Adrian Erickson

Caterpillar Inc. (NYSE:CAT) Logo

Jeffrey Furber decreased its stake in Piedmont Office Realty Trust (PDM) by 1.88% based on its latest 2018Q1 regulatory filing with the SEC. Aew Capital Management LP sold 90,147 shares as the company’s stock rose 2.52% while stock markets declined. The hedge fund run by Jeffrey Furber held 4.69 million shares of the consumer services company at the end of 2018Q1, valued at $82.56M, down from 4.78M at the end of the previous reported quarter. Aew Capital Management LP who had been investing in Piedmont Office Realty Trust for a number of months, seems to be less bullish one the $2.48 billion market cap company. The stock increased 0.52% or $0.1 during the last trading session, reaching $19.32. About 741,339 shares traded. Piedmont Office Realty Trust, Inc. (NYSE:PDM) has declined 10.67% since June 15, 2017 and is downtrending. It has underperformed by 23.24% the S&P500. Some Historical PDM News: 01/05/2018 – PIEDMONT OFFICE 1Q REV. $129.9M; 01/05/2018 – PIEDMONT OFFICE SEES FY CORE FFO/SHR $1.68 TO $1.74, EST. $1.69; 01/05/2018 – Piedmont Office Realty 1Q FFO 41c/Shr; 27/03/2018 Analysis: Positioning to Benefit within PagSeguro Digital, Piedmont Office Realty Trust, Teva Pharmaceutical Industries, Obsidi; 01/05/2018 – PIEDMONT OFFICE 1Q CORE FFO/SHR 45C, EST. 41C; 01/05/2018 – Piedmont Office Realty Trust Sees 1Q Core/FFO Shr $1.68-$1.74; 03/04/2018 – PIEDMONT OFFICE REALTY TRUST – TERM OF $250 MLN UNSECURED TERM LOAN FACILITY IS SEVEN YEARS WITH A MATURITY DATE OF MARCH 31, 2025; 03/04/2018 – PIEDMONT OFFICE REALTY TRUST SAYS ON MARCH 29, CO’S UNIT ENTERED INTO A $250 MLN UNSECURED TERM LOAN FACILITY – SEC FILING; 01/05/2018 – Piedmont Office Realty 1Q EPS 42c; 16/05/2018 – PIEDMONT OFFICE REALTY TRUST INC PDM.N : JP MORGAM RAISES TARGET PRICE TO $20 FROM $19

River & Mercantile Asset Management Llp decreased its stake in Caterpillar Inc (CAT) by 45.46% based on its latest 2018Q1 regulatory filing with the SEC. River & Mercantile Asset Management Llp sold 14,000 shares as the company’s stock declined 4.79% with the market. The institutional investor held 16,797 shares of the capital goods company at the end of 2018Q1, valued at $2.48 million, down from 30,797 at the end of the previous reported quarter. River & Mercantile Asset Management Llp who had been investing in Caterpillar Inc for a number of months, seems to be less bullish one the $91.56 billion market cap company. The stock decreased 1.01% or $1.57 during the last trading session, reaching $153.14. About 3.97 million shares traded. Caterpillar Inc. (NYSE:CAT) has risen 48.40% since June 15, 2017 and is uptrending. It has outperformed by 35.83% the S&P500. Some Historical CAT News: 18/04/2018 – Some of the major market leaders getting back in the saddle again! $AMZN $BA $CAT $GOOGL and $NVDA all surging and nearing their recent highs; 12/04/2018 – Caterpillar Announces Executive Office Changes; 06/03/2018 – HIGHER COSTS COULD SHOW UP 1-2 QTRS AFTER TARIFFS: CATERPILLAR; 10/05/2018 – Franklin Mutual Adds Avaya Holdings, Exits Caterpillar: 13F; 04/05/2018 – Caterpillar Names National Grid Executive as New CFO; 24/04/2018 – CATERPILLAR INC CAT.N SEES FY 2018 SHR $7.75 TO $8.75; 23/04/2018 – DJ Caterpillar Inc, Inst Holders, 1Q 2018 (CAT); 04/05/2018 – CATERPILLAR INC – BOARD APPOINTED ANDREW BONFIELD AS CHIEF FINANCIAL OFFICER EFFECTIVE SEPTEMBER 1, 2018; 24/04/2018 – CATERPILLAR – FY OUTLOOK INCLUDES ABOUT $400 MLN OF RESTRUCTURING COSTS, UNCHANGED FROM PREVIOUS OUTLOOK; 23/04/2018 – CATERPILLAR ROLLING 3-MOS MARCH MACHINE SALES WORLD UP 26%

Analysts await Caterpillar Inc. (NYSE:CAT) to report earnings on July, 24. They expect $2.65 earnings per share, up 77.85% or $1.16 from last year’s $1.49 per share. CAT’s profit will be $1.58B for 14.45 P/E if the $2.65 EPS becomes a reality. After $2.82 actual earnings per share reported by Caterpillar Inc. for the previous quarter, Wall Street now forecasts -6.03% negative EPS growth.

Investors sentiment decreased to 0.95 in 2018 Q1. Its down 0.18, from 1.13 in 2017Q4. It dropped, as 72 investors sold CAT shares while 456 reduced holdings. 142 funds opened positions while 358 raised stakes. 390.42 million shares or 3.01% less from 402.55 million shares in 2017Q4 were reported. Fred Alger Mgmt invested 0.26% in Caterpillar Inc. (NYSE:CAT). Castleark Mgmt Lc, a Illinois-based fund reported 232,097 shares. 3,138 are owned by Wade G W &. Pictet Asset Mngmt Limited reported 335,092 shares. 3,324 are held by Congress Asset Ma. Moors & Cabot reported 21,184 shares. Metropolitan Life Insurance Com New York holds 0% or 115,035 shares. Old Second Retail Bank Of Aurora holds 8,266 shares. M&T National Bank & Trust Corporation holds 177,479 shares or 0.14% of its portfolio. 466,142 were accumulated by Clarivest Asset Mgmt Llc. Ibm Retirement Fund reported 13,744 shares. Stonebridge Advsr Llc invested in 1,734 shares or 0.06% of the stock. Laffer owns 0% invested in Caterpillar Inc. (NYSE:CAT) for 19,734 shares. Triangle Securities Wealth Management accumulated 3,084 shares. Kanawha Cap Lc has 0.61% invested in Caterpillar Inc. (NYSE:CAT) for 27,274 shares.

Since January 30, 2018, it had 1 insider purchase, and 4 insider sales for $23.72 million activity. 5,000 shares were bought by CALHOUN DAVID L, worth $776,850. The insider Creed Joseph E sold $705,496. The insider Long Suzette M sold 528 shares worth $84,723.

River & Mercantile Asset Management Llp, which manages about $4.01 billion and $856.57 million US Long portfolio, upped its stake in Mylan Nv (NASDAQ:MYL) by 12,632 shares to 52,742 shares, valued at $2.17M in 2018Q1, according to the filing. It also increased its holding in General Electric Co (NYSE:GE) by 109,540 shares in the quarter, for a total of 236,330 shares, and has risen its stake in Makemytrip Ltd (NASDAQ:MMYT).

More notable recent Caterpillar Inc. (NYSE:CAT) news were published by: Finance.Yahoo.com which released: “Why Caterpillar Inc (NYSE:CAT) Is A Dividend Rockstar” on June 02, 2018, also Streetinsider.com with their article: “Caterpillar (CAT) PT Raised to $185 at UBS; Mining Biz Starting to Ramp” published on June 14, 2018, Nasdaq.com published: “US Manufacturing Gathers Steam Under Trump: 5 Top Picks” on June 14, 2018. More interesting news about Caterpillar Inc. (NYSE:CAT) were released by: Streetinsider.com and their article: “Futures slide as US readies China tariffs” published on June 15, 2018 as well as Benzinga.com‘s news article titled: “Three Industries Already Using Self-Driving Vehicles” with publication date: June 06, 2018.

Among 35 analysts covering Caterpillar Inc. (NYSE:CAT), 18 have Buy rating, 4 Sell and 13 Hold. Therefore 51% are positive. Caterpillar Inc. had 137 analyst reports since July 27, 2015 according to SRatingsIntel. The stock has “Buy” rating by Wells Fargo on Monday, April 16. The stock of Caterpillar Inc. (NYSE:CAT) has “Buy” rating given on Tuesday, December 12 by Barclays Capital. As per Wednesday, October 12, the company rating was maintained by Barclays Capital. The firm earned “Hold” rating on Tuesday, June 20 by BMO Capital Markets. Credit Suisse maintained it with “Buy” rating and $146.0 target in Wednesday, October 18 report. The stock has “Equal Weight” rating by Barclays Capital on Friday, September 25. Tigress Financial maintained Caterpillar Inc. (NYSE:CAT) on Friday, April 27 with “Buy” rating. The firm earned “Buy” rating on Friday, January 12 by Bank of America. Stifel Nicolaus maintained Caterpillar Inc. (NYSE:CAT) rating on Wednesday, April 26. Stifel Nicolaus has “Hold” rating and $111 target. The firm has “Buy” rating given on Wednesday, October 25 by UBS.

More recent Piedmont Office Realty Trust, Inc. (NYSE:PDM) news were published by: Bizjournals.com which released: “Behind the deal: How Lincoln Property landed SunTrust in downtown Orlando’s new mixed-use tower” on June 14, 2018. Also Bizjournals.com published the news titled: “Exclusive: SunTrust Center owner to renovate iconic downtown office tower” on June 12, 2018. Globenewswire.com‘s news article titled: “Market Trends Toward New Normal in TE Connectivity, Nutrien, Cheetah Mobile, Unilever NV, B2Gold, and Piedmont …” with publication date: June 08, 2018 was also an interesting one.

Among 4 analysts covering Piedmont Office Realty Trust (NYSE:PDM), 1 have Buy rating, 1 Sell and 2 Hold. Therefore 25% are positive. Piedmont Office Realty Trust had 18 analyst reports since September 3, 2015 according to SRatingsIntel. On Monday, January 23 the stock rating was upgraded by Stifel Nicolaus to “Hold”. The firm has “Sell” rating given on Monday, December 14 by Stifel Nicolaus. As per Monday, September 18, the company rating was maintained by Stifel Nicolaus. The stock of Piedmont Office Realty Trust, Inc. (NYSE:PDM) earned “Hold” rating by Stifel Nicolaus on Friday, February 9. Robert W. Baird upgraded the shares of PDM in report on Monday, August 28 to “Outperform” rating. SunTrust maintained it with “Hold” rating and $20.0 target in Tuesday, March 6 report. The company was maintained on Thursday, September 3 by SunTrust. The firm has “Buy” rating given on Monday, January 8 by Robert W. Baird. Robert W. Baird maintained it with “Buy” rating and $22.0 target in Thursday, February 8 report. The company was downgraded on Tuesday, March 13 by Stifel Nicolaus.

Aew Capital Management L P, which manages about $25.93 billion and $3.56B US Long portfolio, upped its stake in Rlj Lodging Trust (NYSE:RLJ) by 93,150 shares to 2.49 million shares, valued at $48.35M in 2018Q1, according to the filing. It also increased its holding in American Homes 4 Rent Cl A (NYSE:AMH) by 47,000 shares in the quarter, for a total of 3.75 million shares, and has risen its stake in Duke Realty Corp (NYSE:DRE).

Analysts await Piedmont Office Realty Trust, Inc. (NYSE:PDM) to report earnings on August, 1. They expect $0.42 EPS, down 8.70% or $0.04 from last year’s $0.46 per share. PDM’s profit will be $53.83M for 11.50 P/E if the $0.42 EPS becomes a reality. After $0.41 actual EPS reported by Piedmont Office Realty Trust, Inc. for the previous quarter, Wall Street now forecasts 2.44% EPS growth.

Since February 12, 2018, it had 3 buys, and 0 sales for $336,489 activity. Another trade for 10,000 shares valued at $186,500 was bought by BARRETT KELLY HEFNER. Shares for $49,840 were bought by Smith Christopher Brent on Monday, February 12.

Caterpillar Inc. (NYSE:CAT) Institutional Positions Chart

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