Pictet Asset Management Holding SA Has $35.87 Million Stock Holdings in Fastenal (NASDAQ:FAST)

Pictet Asset Management Holding SA trimmed its stake in shares of Fastenal (NASDAQ:FAST) by 12.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 498,861 shares of the company’s stock after selling 72,061 shares during the quarter. Pictet Asset Management Holding SA owned 0.09% of Fastenal worth $35,873,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Boussard & Gavaudan Investment Management LLP acquired a new stake in Fastenal in the 4th quarter valued at $1,959,000. Norges Bank acquired a new stake in shares of Fastenal in the 4th quarter valued at $522,558,000. Caisse Des Depots ET Consignations bought a new stake in shares of Fastenal in the 4th quarter worth about $4,290,000. NEOS Investment Management LLC increased its position in shares of Fastenal by 52.4% during the 4th quarter. NEOS Investment Management LLC now owns 155,958 shares of the company’s stock worth $11,215,000 after purchasing an additional 53,622 shares in the last quarter. Finally, UniSuper Management Pty Ltd lifted its holdings in Fastenal by 5.2% during the 4th quarter. UniSuper Management Pty Ltd now owns 154,146 shares of the company’s stock valued at $11,085,000 after purchasing an additional 7,662 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors.

Fastenal Price Performance

FAST opened at $76.17 on Monday. The company has a fifty day moving average price of $75.35 and a two-hundred day moving average price of $75.98. The firm has a market capitalization of $43.68 billion, a PE ratio of 37.90, a P/E/G ratio of 3.58 and a beta of 1.05. Fastenal has a 52 week low of $61.36 and a 52 week high of $84.88. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 4.67.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Friday, January 17th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the prior year, the company posted $0.46 EPS. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, analysts anticipate that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, January 31st were paid a dividend of $0.43 per share. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.72 annualized dividend and a yield of 2.26%. Fastenal’s dividend payout ratio (DPR) is presently 85.57%.

Wall Street Analysts Forecast Growth

FAST has been the subject of several recent analyst reports. HSBC lowered shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective for the company. in a report on Wednesday, December 11th. Wolfe Research lifted their price objective on Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Jefferies Financial Group increased their target price on Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Stifel Nicolaus cut their price target on Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Finally, William Blair raised shares of Fastenal from a “market perform” rating to an “outperform” rating in a report on Monday, March 10th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Fastenal presently has an average rating of “Hold” and a consensus target price of $76.91.

Fastenal Company Profile

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company’s fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.