MCRAE CAPITAL MANAGEMENT INC 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.
Frontier Capital Management Co is a private investment management company that was founded in 1980 and is based out of Boston. The company currently operates as a subsidiary of Affiliated Managers Group, which it became an affiliate of in 2000, with the rest of the ownership split amongst employees of the company. Frontier Capital Management Co’s investment philosophy focuses on the belief that “over time stock prices tend to follow earnings progress and that stocks must be purchased and owned at reasonable valuations” and that active fundamental research that is done internally will generate the best results in the long term. The company utilizes a fundamental analysis with a bottom up stock picking approach to make its investment decisions, focusing on public equity markets. For growth strategies, Frontier Capital Management looks for companies that have above average secular growth prospects and various competitive advantages such as proprietary products, differentiated value services, or patents. For its value strategies, the company utilizes its criteria based on price to sales, return on equity, and P/B values of less than 3 times. For all its strategies, Frontier Capital Management sells its stocks when its price objectives are reached, when fundamental conditions have changed for the worse, and then the company becomes fully invested in a new opportunity that has a better appreciation potential. The company currently has 38 employees with 17 of them being investment professionals. Frontier Capital Management has a total of almost $14 billion in assets under management spread across 149 accounts, all of which are discretionary accounts except for 2. The company’s total accounts held increased significantly from 2010 to 330 by 2014 before dropping down to its current amount, and its total assets under management has increased significantly from its $4.4 billion amount five years prior to over three times that amount today. The strategies that the company offers include its Small Cap Growth, Capital Appreciation, Mid Cap Growth, All Cap Research, SMID Cap Research, and Small Cap Value.
As of the latest 13F report, the guru’s equity portfolio contained 101 stocks valued at a total of $342.00Mil. The top holdings were MSFT(4.87%), LOW(4.77%), and LH(4.62%).
According to GuruFocus data, these were MCRAE CAPITAL MANAGEMENT INC’s top five trades of the quarter.
Quanta Services Inc
MCRAE CAPITAL MANAGEMENT INC reduced their investment in NYSE:PWR by 15,750 shares. The trade had a 0.61% impact on the equity portfolio. During the quarter, the stock traded for an average price of $142.
On 01/21/2023, Quanta Services Inc traded for a price of $146.24 per share and a market cap of $20.90Bil. The stock has returned 46.51% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, Quanta Services Inc has a price-earnings ratio of 49.91, a price-book ratio of 4.02, a price-earnings-to-growth (PEG) ratio of 2.68, a EV-to-Ebitda ratio of 17.84 and a price-sales ratio of 1.30.
The price-to-GF Value ratio is 1.09, earning the stock a GF Value rank of 3.
Microsoft Corp
MCRAE CAPITAL MANAGEMENT INC reduced their investment in NAS:MSFT by 3,639 shares. The trade had a 0.26% impact on the equity portfolio. During the quarter, the stock traded for an average price of $239.99.
On 01/21/2023, Microsoft Corp traded for a price of $240.22 per share and a market cap of $1,790.71Bil. The stock has returned -19.59% over the past year.
GuruFocus gives the company a financial strength rating of 8 out of 10 and a profitability rating of 10 out of 10.
In terms of valuation, Microsoft Corp has a price-earnings ratio of 25.89, a price-book ratio of 10.32, a price-earnings-to-growth (PEG) ratio of 1.26, a EV-to-Ebitda ratio of 16.68 and a price-sales ratio of 8.88.
The price-to-GF Value ratio is 0.76, earning the stock a GF Value rank of 9.
iShares U.S. Preferred Stock
MCRAE CAPITAL MANAGEMENT INC reduced their investment in NAS:PFF by 26,200 shares. The trade had a 0.25% impact on the equity portfolio. During the quarter, the stock traded for an average price of $30.94.
On 01/21/2023, iShares U.S. Preferred Stock traded for a price of $32.95 per share and a market cap of $13.97Bil. The stock has returned -9.45% over the past year.
There is insufficient data to calculate the stock’s financial strength and profitability ratings.
Medtronic PLC
MCRAE CAPITAL MANAGEMENT INC reduced their investment in NYSE:MDT by 8,920 shares. The trade had a 0.22% impact on the equity portfolio. During the quarter, the stock traded for an average price of $81.05.
On 01/21/2023, Medtronic PLC traded for a price of $80.91 per share and a market cap of $107.62Bil. The stock has returned -21.19% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, Medtronic PLC has a price-earnings ratio of 25.13, a price-book ratio of 2.07, a EV-to-Ebitda ratio of 13.61 and a price-sales ratio of 3.53.
The price-to-GF Value ratio is 0.73, earning the stock a GF Value rank of 10.
Truist Financial Corp
MCRAE CAPITAL MANAGEMENT INC reduced their investment in NYSE:TFC by 16,450 shares. The trade had a 0.22% impact on the equity portfolio. During the quarter, the stock traded for an average price of $43.87.
On 01/21/2023, Truist Financial Corp traded for a price of $47.92 per share and a market cap of $63.58Bil. The stock has returned -21.07% over the past year.
GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 6 out of 10.
In terms of valuation, Truist Financial Corp has a price-earnings ratio of 10.82, a price-book ratio of 1.17, a price-earnings-to-growth (PEG) ratio of 1.23 and a price-sales ratio of 2.91.
The price-to-GF Value ratio is 0.87, earning the stock a GF Value rank of 7.
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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