Fastenal (NASDAQ:FAST) Stock Holdings Lessened by PGGM Investments

PGGM Investments lessened its holdings in shares of Fastenal (NASDAQ:FAST - Free Report) by 4.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 189,409 shares of the company's stock after selling 9,177 shares during the period. PGGM Investments' holdings in Fastenal were worth $13,620,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Erste Asset Management GmbH acquired a new stake in shares of Fastenal in the 4th quarter worth approximately $2,343,000. EverSource Wealth Advisors LLC lifted its position in Fastenal by 134.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 4,706 shares of the company's stock worth $338,000 after purchasing an additional 2,699 shares during the period. Sequoia Financial Advisors LLC boosted its stake in Fastenal by 20.5% during the 4th quarter. Sequoia Financial Advisors LLC now owns 11,008 shares of the company's stock valued at $792,000 after purchasing an additional 1,871 shares in the last quarter. Moors & Cabot Inc. increased its position in shares of Fastenal by 2.5% during the 4th quarter. Moors & Cabot Inc. now owns 10,822 shares of the company's stock valued at $778,000 after purchasing an additional 261 shares during the period. Finally, Avantax Planning Partners Inc. raised its stake in shares of Fastenal by 1.3% in the 4th quarter. Avantax Planning Partners Inc. now owns 138,793 shares of the company's stock worth $9,981,000 after buying an additional 1,848 shares in the last quarter. Institutional investors own 81.38% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. 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 research report on Wednesday, December 11th. Hsbc Global Res cut shares of Fastenal from a "hold" rating to a "moderate sell" rating in a report on Wednesday, December 11th. Wolfe Research upped their price target on Fastenal from $74.00 to $76.00 and gave the company an "underweight" rating in a report on Thursday, January 16th. UBS Group started coverage on Fastenal in a research note on Wednesday, November 13th. They set a "neutral" rating and a $88.00 price objective for the company. Finally, Stifel Nicolaus cut their target price on Fastenal from $86.00 to $82.00 and set a "hold" rating on the stock in a research report on Tuesday, January 21st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Fastenal has an average rating of "Hold" and a consensus price target of $76.91.

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Fastenal Stock Down 1.8 %

FAST opened at $75.99 on Thursday. The firm has a market cap of $43.58 billion, a P/E ratio of 37.81, a price-to-earnings-growth ratio of 3.58 and a beta of 1.05. 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 business has a 50 day moving average price of $74.62 and a 200 day moving average price of $75.20. Fastenal has a twelve month low of $61.36 and a twelve month high of $84.88.

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

Fastenal Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, January 31st were given 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 was Friday, January 31st. This represents a $1.72 dividend on an annualized basis and a yield of 2.26%. Fastenal's payout ratio is currently 85.57%.

Fastenal 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.

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