Zoetis: An attractive business model
Zoetis said in a recent statement that “its unique characteristics have established the company as the world leader in animal health, growing revenue faster than the market for the last three years.”
Pershing Square Capital Holdings added a new position in Zoetis Inc. (ZTS), which accounts for 1.52% of Pershing Square’s portfolio for the third quarter that ended in September 2014.
Activist hedge fund manager William Ackman’s Pershing Square Capital Holdings filed its third quarter 13F last month. The fund’s year-to-date returns as of October 31, 2014, net of fees, was 35.0%.
JANA Partners increased its stake in Hertz Global Holdings (HTZ) during the third quarter. The position accounted for 2.95% of the fund’s 3Q14 portfolio.
Greenlight Capital’s investment in Civeo (CVEO) generated a loss. At the end of September, Greenlight owned 6,154,400 Civeo shares worth ~$71 million.
Greenlight Capital made a new “medium-sized” investment in EMC. At the end of September, Greenlight owned 5,780,200 EMC shares worth ~$169 million.
Mario Gabelli’s GAMCO Investors upped its position in Chemtura Corporation (CHMT) during 3Q14. Recently, a 13D amended filing raised the position further.
For 3Q14, PHH’s revenue was down 28% year-over-year to $152 million. The company posted net income of $215 million or $4.00 per basic share.
Blackhawk’s 3Q14 results saw 31% revenue growth due to robust sales of open loop gift cards and the acquisitions of InteliSpend and Retailo.
Angie’s List is an online consumer review business that helps its members research, hire, rate, review, and purchase local services for critical needs.
Rosetta said its production for the quarter averaged 73.5 MBoe/d, an increase of 44% from the corresponding period in 2013 and 20% from the prior quarter.
Due to the enthusiastic response to its products from retailers, licensors, and consumers, JAKKS increased net sales guidance for the full year 2014.
Newfield’s 3Q14 net income rose to $278 million or $2.02 per share, from $27 million or $0.05 per share in the corresponding quarter last year.
An analysis of 2Q14 hedge fund filings ranked Citadel and Renaissance the highest in terms of total equity holdings, followed by Millennium Management.
ValueAct Capital increased its position slightly in VRX. An amended 13D filing in September noted that the fund owns 18,928,899 shares. This is up from 18,923,877 shares.
ValueAct Capital lowered its position in MSI. An amended 13D filing in November noted that the fund owns 17,588,576 shares. This is down from 28,907,623 shares.
Rockwell Collins Inc. is a leader in the design, production, and support of communications and aviation electronics for commercial and military customers worldwide.
CBRE’s 3Q14 revenue increased 31% year-over-year (or YoY) to $2.3 billion. Net net income increased 33% to $132.6 million—from $99.7 million in 3Q13.
ValueAct Capital lowered its position in Dresser-Rand Group (DRC). An amended 13D filing in July noted that the fund owns 2,004,462 shares.
ValueAct is based in San Francisco. It manages more than $14 billion on behalf of several institutional and individual investors. The fund was founded in 2000.