Clearbridge Investments Decreased Trex Co (TREX) Stake as Market Value Rose; Jennison Associates Has Cut Apple (AAPL) Position by $274.07 Million; Stock Value Declined

April 20, 2018 - By Linda Rogers

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Jennison Associates Llc decreased its stake in Apple Inc (AAPL) by 6.08% based on its latest 2017Q4 regulatory filing with the SEC. Jennison Associates Llc sold 1.62M shares as the company’s stock declined 3.81% with the market. The institutional investor held 25.07 million shares of the computer manufacturing company at the end of 2017Q4, valued at $4.24B, down from 26.69 million at the end of the previous reported quarter. Jennison Associates Llc who had been investing in Apple Inc for a number of months, seems to be less bullish one the $854.36 billion market cap company. The stock decreased 2.56% or $4.42 during the last trading session, reaching $168.38. About 9.50M shares traded. Apple Inc. (NASDAQ:AAPL) has risen 19.49% since April 20, 2017 and is uptrending. It has outperformed by 7.94% the S&P500.

Clearbridge Investments Llc decreased its stake in Trex Co Inc (TREX) by 6.96% based on its latest 2017Q4 regulatory filing with the SEC. Clearbridge Investments Llc sold 127,349 shares as the company’s stock rose 0.13% while stock markets declined. The institutional investor held 1.70 million shares of the basic industries company at the end of 2017Q4, valued at $184.59 million, down from 1.83M at the end of the previous reported quarter. Clearbridge Investments Llc who had been investing in Trex Co Inc for a number of months, seems to be less bullish one the $3.20 billion market cap company. The stock increased 0.56% or $0.61 during the last trading session, reaching $108.67. About 10,452 shares traded. Trex Company, Inc. (NYSE:TREX) has risen 53.31% since April 20, 2017 and is uptrending. It has outperformed by 41.76% the S&P500.

Jennison Associates Llc, which manages about $101.25 billion US Long portfolio, upped its stake in East West Bancorp Inc (NASDAQ:EWBC) by 294,977 shares to 2.92 million shares, valued at $177.38 million in 2017Q4, according to the filing. It also increased its holding in United Technologies Corp (NYSE:UTX) by 11,650 shares in the quarter, for a total of 1.16 million shares, and has risen its stake in Beacon Roofing Supply Inc (NASDAQ:BECN).

Analysts await Apple Inc. (NASDAQ:AAPL) to report earnings on May, 1 after the close. They expect $2.71 earnings per share, up 29.05% or $0.61 from last year’s $2.1 per share. AAPL’s profit will be $13.75B for 15.53 P/E if the $2.71 EPS becomes a reality. After $3.89 actual earnings per share reported by Apple Inc. for the previous quarter, Wall Street now forecasts -30.33% negative EPS growth.

Investors sentiment increased to 0.73 in 2017 Q4. Its up 0.03, from 0.7 in 2017Q3. It is positive, as 50 investors sold AAPL shares while 1023 reduced holdings. 151 funds opened positions while 637 raised stakes. 2.98 billion shares or 0.18% more from 2.97 billion shares in 2017Q3 were reported. Partnervest Advisory Ltd Co reported 23,483 shares. Lowe Brockenbrough And invested in 3.13% or 128,992 shares. Css Ltd Limited Liability Company Il reported 0.16% in Apple Inc. (NASDAQ:AAPL). Stillwater Investment Ltd stated it has 6.48% in Apple Inc. (NASDAQ:AAPL). Fisher Asset Management Ltd Limited Liability Company holds 2.48% of its portfolio in Apple Inc. (NASDAQ:AAPL) for 11.21M shares. E&G Advisors Limited Partnership has 1.63% invested in Apple Inc. (NASDAQ:AAPL). Bar Harbor Trust Services stated it has 6,853 shares. Northside Mgmt Ltd Liability invested 0.11% of its portfolio in Apple Inc. (NASDAQ:AAPL). Baillie Gifford And Co invested in 123,051 shares. Tortoise Management Limited Liability Company holds 10,845 shares or 0.53% of its portfolio. Artisan Partnership stated it has 0.15% in Apple Inc. (NASDAQ:AAPL). Moreover, Price Capital Management Incorporated has 0.64% invested in Apple Inc. (NASDAQ:AAPL). Lodestar Investment Counsel Lc Il, a Illinois-based fund reported 176,850 shares. Truepoint Inc stated it has 27,668 shares. Glenview Mgmt Ltd Llc owns 1.15% invested in Apple Inc. (NASDAQ:AAPL) for 1.26M shares.

Among 54 analysts covering Apple Inc. (NASDAQ:AAPL), 35 have Buy rating, 1 Sell and 18 Hold. Therefore 65% are positive. Apple Inc. had 394 analyst reports since July 21, 2015 according to SRatingsIntel. Stifel Nicolaus maintained it with “Buy” rating and $150 target in Wednesday, October 28 report. On Friday, November 3 the stock rating was maintained by Morgan Stanley with “Overweight”. RBC Capital Markets maintained it with “Outperform” rating and $150 target in Monday, September 28 report. The stock has “Buy” rating by BTIG Research on Thursday, September 15. Pacific Crest upgraded the stock to “Overweight” rating in Wednesday, October 28 report. The rating was maintained by Piper Jaffray on Monday, August 31 with “Buy”. Canaccord Genuity maintained the shares of AAPL in report on Friday, February 2 with “Buy” rating. The stock of Apple Inc. (NASDAQ:AAPL) earned “Overweight” rating by Morgan Stanley on Wednesday, January 27. Stifel Nicolaus maintained Apple Inc. (NASDAQ:AAPL) rating on Tuesday, October 18. Stifel Nicolaus has “Buy” rating and $130 target. On Friday, September 11 the stock rating was maintained by Credit Suisse with “Buy”.

Since December 7, 2017, it had 0 buys, and 4 sales for $19.89 million activity. Shares for $11.56 million were sold by SCHILLER PHILIP W on Tuesday, April 3.

Clearbridge Investments Llc, which manages about $108.23 billion US Long portfolio, upped its stake in Medidata Solutions Inc (NASDAQ:MDSO) by 9,425 shares to 2.17M shares, valued at $137.62 million in 2017Q4, according to the filing. It also increased its holding in Tallgrass Energy Gp Lp by 226,300 shares in the quarter, for a total of 2.66 million shares, and has risen its stake in Grainger W W Inc (NYSE:GWW).

Since January 16, 2018, it had 1 buy, and 8 selling transactions for $4.58 million activity. 3,255 shares were sold by ROBINSON PATRICIA B, worth $341,775 on Tuesday, March 6. Gupp William R. sold $370,973 worth of Trex Company, Inc. (NYSE:TREX) on Friday, February 23. GRATZ JAY M also sold $123,735 worth of Trex Company, Inc. (NYSE:TREX) shares. Cline James E also sold $2.31M worth of Trex Company, Inc. (NYSE:TREX) shares. $376,164 worth of Trex Company, Inc. (NYSE:TREX) was sold by Gerhard Christopher Paul on Wednesday, March 7. The insider SCRIPTER JAY T bought $4,807.

Investors sentiment decreased to 1.06 in Q4 2017. Its down 0.29, from 1.35 in 2017Q3. It fall, as 8 investors sold TREX shares while 93 reduced holdings. 49 funds opened positions while 58 raised stakes. 25.62 million shares or 0.85% less from 25.84 million shares in 2017Q3 were reported. Polen Capital Mngmt invested in 2,730 shares. Texas Permanent School Fund holds 19,891 shares or 0.03% of its portfolio. Brown Advisory stated it has 0% in Trex Company, Inc. (NYSE:TREX). Laurion Capital Mgmt Ltd Partnership, New York-based fund reported 2,300 shares. Koch Industries accumulated 4,364 shares. Washington Tru stated it has 0.02% of its portfolio in Trex Company, Inc. (NYSE:TREX). Bb&T holds 3,233 shares. Creative Planning reported 5,677 shares. Barrett Asset Mgmt Limited Com holds 0% in Trex Company, Inc. (NYSE:TREX) or 169 shares. Comerica Bank has 48,099 shares for 0.04% of their portfolio. Public Employees Retirement Association Of Colorado has 0% invested in Trex Company, Inc. (NYSE:TREX). Glenmede Trust Na owns 770 shares for 0% of their portfolio. Congress Asset Ma reported 0.08% in Trex Company, Inc. (NYSE:TREX). Emerald Advisers Pa holds 387,741 shares or 1.62% of its portfolio. Whalerock Point Prtnrs Lc invested 0.12% in Trex Company, Inc. (NYSE:TREX).

Among 10 analysts covering Trex Co (NYSE:TREX), 5 have Buy rating, 0 Sell and 5 Hold. Therefore 50% are positive. Trex Co had 27 analyst reports since September 24, 2015 according to SRatingsIntel. On Wednesday, November 9 the stock rating was maintained by Stifel Nicolaus with “Hold”. FBR Capital maintained the stock with “Outperform” rating in Friday, February 26 report. On Tuesday, January 17 the stock rating was maintained by Wedbush with “Neutral”. As per Wednesday, January 3, the company rating was upgraded by FBR Capital. The firm earned “Buy” rating on Thursday, January 11 by Seaport Global. The firm has “Buy” rating by FBR Capital given on Thursday, March 22. B. Riley & Co upgraded Trex Company, Inc. (NYSE:TREX) rating on Wednesday, January 3. B. Riley & Co has “Buy” rating and $125 target. The stock has “Buy” rating by Seaport Global on Thursday, June 1. The stock of Trex Company, Inc. (NYSE:TREX) has “Hold” rating given on Monday, October 2 by Sidoti. The stock of Trex Company, Inc. (NYSE:TREX) has “Hold” rating given on Friday, December 8 by Stifel Nicolaus.

Analysts await Trex Company, Inc. (NYSE:TREX) to report earnings on May, 7 after the close. They expect $1.17 earnings per share, up 23.16% or $0.22 from last year’s $0.95 per share. TREX’s profit will be $34.43 million for 23.22 P/E if the $1.17 EPS becomes a reality. After $0.56 actual earnings per share reported by Trex Company, Inc. for the previous quarter, Wall Street now forecasts 108.93% EPS growth.

Trex Company, Inc. (NYSE:TREX) Institutional Positions Chart

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