Envestnet Portfolio Solutions Inc. Sells 3,873 Shares of Fastenal (NASDAQ:FAST)

Envestnet Portfolio Solutions Inc. lessened its holdings in shares of Fastenal (NASDAQ:FAST - Free Report) by 14.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,488 shares of the company's stock after selling 3,873 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Fastenal were worth $1,689,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of FAST. OFI Invest Asset Management bought a new stake in shares of Fastenal in the fourth quarter valued at about $46,000. Whipplewood Advisors LLC acquired a new stake in Fastenal in the 4th quarter valued at approximately $49,000. SBI Securities Co. Ltd. bought a new stake in Fastenal in the 4th quarter valued at approximately $49,000. R Squared Ltd acquired a new position in Fastenal during the 4th quarter worth approximately $68,000. Finally, Eastern Bank grew its stake in shares of Fastenal by 440.7% during the 4th quarter. Eastern Bank now owns 984 shares of the company's stock worth $71,000 after acquiring an additional 802 shares in the last quarter. Institutional investors own 81.38% of the company's stock.

Fastenal Stock Performance

Fastenal stock remained flat at $77.09 during mid-day trading on Wednesday. 2,763,481 shares of the company's stock were exchanged, compared to its average volume of 2,923,273. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 4.67. The firm has a market cap of $44.21 billion, a P/E ratio of 38.35, a P/E/G ratio of 3.58 and a beta of 1.05. Fastenal has a 1 year low of $61.36 and a 1 year high of $84.88. The company has a fifty day moving average of $75.23 and a two-hundred day moving average of $75.81.

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Fastenal (NASDAQ:FAST - Get Free Report) last issued its quarterly earnings data on Friday, January 17th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.48 by ($0.02). The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.84 billion. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. Fastenal's revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.46 earnings per share. Research analysts forecast that Fastenal will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, January 31st were issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.23%. This is a boost from Fastenal's previous quarterly dividend of $0.39. The ex-dividend date was Friday, January 31st. Fastenal's dividend payout ratio (DPR) is presently 85.57%.

Analyst Upgrades and Downgrades

FAST has been the topic of several recent analyst reports. Stifel Nicolaus lowered their price target on Fastenal from $86.00 to $82.00 and set a "hold" rating on the stock in a research report on Tuesday, January 21st. William Blair upgraded Fastenal from a "market perform" rating to an "outperform" rating in a research note on Monday, March 10th. Hsbc Global Res downgraded Fastenal from a "hold" rating to a "moderate sell" rating in a report on Wednesday, December 11th. Jefferies Financial Group upped their price objective on shares of Fastenal from $74.00 to $85.00 and gave the company a "hold" rating in a report on Friday, December 6th. Finally, Wolfe Research raised their target price on shares of Fastenal from $74.00 to $76.00 and gave the stock an "underweight" rating in a research note on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target 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.