Keith Meister’s Massive Q3 Moves On Williams (WMB), Johnson Controls (JCI), More

Johnson Controls International plc Ordinary Share (NYSE:JCI) stock forms 2.58% of Corvex Management’s portfolio at the end of September quarter. The fund held 2.96 million shares of the company with the market value of $137.88 million, which it initiated in Q3.  The number of funds from our hedge fund database long Johnson Controls International was at 32 in the quarter ending June. The total value of their holdings stood at $1.08 billion, in comparison to $647 million held by 27 funds at the end of previous quarter. Johnson Controls International reported its adjusted Non-GAAP earnings at $1.21 per share, surpassing consensus expectation of $1.06 per share. Its revenue for the fourth quarter stood at $10.2 billion.

Coca Cola European Partners plc Ordinary Shares (NYSE:CCE) stock dipped 6.7% this year so far. The company also offers dividend yield of 2.34%. Corvex Management initiated its holding of the stock by buying 1.76 million shares during the September quarter. The market value of the holding stands at $70.6 million and forms 1.32% of Corvex Management’s portfolio. 40 hedge funds from our database have positions in Coca Cola European Partners, with total holdings of about $1.54 billion as on the end of June quarter, amounting to about 19% of the company’s outstanding stock. Coca Cola European Partners’ third quarter earnings at $0.74 per share beat the consensus expectation of $0.72 per share. Its revenue of $3.3 billion also beat street estimate of $3.266 billion. For knowing more about vintage soda bottles, read our article here.

JPMorgan Chase & Co. (NYSE:JPM) stock climbed 25% this year as it also saw Corvex Management initiating a position in the stock. The investment firm held 250,000 shares of JPMorgan Chase worth $16.648 million as on the end of September quarter. 99 hedge funds we track held about $7.23 billion of JPMorgan Chase stock as on the end of June quarter, in comparison to 97 funds holding stock worth $6.93 billion the previous quarter. JPMorgan Chase has been fined by European Union for alleged rigging of financial benchmarks linked with Euro. The banking company has denied the charges.

DISCLOSURE – NONE