Covington Investment Advisors INC Has Lowered Prologis INC (PLD) Holding as Stock Value Rose

July 14, 2018 - By Yee Bell

Prologis, Inc. (NYSE:PLD) LogoInvestors sentiment decreased to 1.04 in 2018 Q1. Its down 0.18, from 1.22 in 2017Q4. It fall, as 43 investors sold PLD shares while 186 reduced holdings. 60 funds opened positions while 178 raised stakes. 483.90 million shares or 2.16% less from 494.61 million shares in 2017Q4 were reported. Lombard Odier Asset (Europe), United Kingdom-based fund reported 5,835 shares. Miles Capital Inc stated it has 10,417 shares. Suntrust Banks accumulated 0% or 9,130 shares. Fifth Third Bancorp reported 137,111 shares or 0.06% of all its holdings. Conning owns 0.03% invested in Prologis, Inc. (NYSE:PLD) for 14,186 shares. Creative Planning invested in 0% or 5,398 shares. Wellington Grp Llp reported 1.02M shares or 0.01% of all its holdings. Amica Retiree Medical Trust, Rhode Island-based fund reported 2,494 shares. 11,757 were reported by Cipher L P. Prudential Fincl Inc reported 0.13% in Prologis, Inc. (NYSE:PLD). Moreover, Lmr Prns Llp has 0.21% invested in Prologis, Inc. (NYSE:PLD). Whittier Trust Co Of Nevada Incorporated holds 20,768 shares or 0.11% of its portfolio. Moreover, Mitsubishi Ufj Tru & has 0.13% invested in Prologis, Inc. (NYSE:PLD) for 1.14 million shares. Ameriprise Fin Incorporated holds 2.94M shares or 0.08% of its portfolio. Connecticut-based Hartford Mgmt has invested 0.14% in Prologis, Inc. (NYSE:PLD).

Covington Investment Advisors Inc decreased its stake in Prologis Inc (PLD) by 93.61% based on its latest 2018Q1 regulatory filing with the SEC. Covington Investment Advisors Inc sold 22,396 shares as the company’s stock rose 5.06% while stock markets declined. The institutional investor held 1,529 shares of the consumer services company at the end of 2018Q1, valued at $24.28M, down from 23,925 at the end of the previous reported quarter. Covington Investment Advisors Inc who had been investing in Prologis Inc for a number of months, seems to be less bullish one the $35.49B market cap company. The stock decreased 0.21% or $0.14 during the last trading session, reaching $65.53. About 1.94M shares traded. Prologis, Inc. (NYSE:PLD) has risen 15.22% since July 14, 2017 and is uptrending. It has outperformed by 2.65% the S&P500.

Covington Investment Advisors Inc, which manages about $239.59 million and $311.02 million US Long portfolio, upped its stake in Fiserv Inc (NASDAQ:FISV) by 47,303 shares to 93,961 shares, valued at $6.70 million in 2018Q1, according to the filing.

Analysts await Prologis, Inc. (NYSE:PLD) to report earnings on July, 17 before the open. They expect $0.71 EPS, down 15.48 % or $0.13 from last year’s $0.84 per share. PLD’s profit will be $384.56 million for 23.07 P/E if the $0.71 EPS becomes a reality. After $0.80 actual EPS reported by Prologis, Inc. for the previous quarter, Wall Street now forecasts -11.25 % negative EPS growth.

Prologis, Inc. (NYSE:PLD) Ratings Coverage

Among 10 analysts covering Prologis (NYSE:PLD), 10 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Prologis has $7300 highest and $64 lowest target. $68.88’s average target is 5.11% above currents $65.53 stock price. Prologis had 13 analyst reports since January 24, 2018 according to SRatingsIntel. The stock has “Buy” rating by Citigroup on Friday, April 6. On Tuesday, April 24 the stock rating was maintained by Robert W. Baird with “Buy”. The rating was upgraded by JP Morgan to “Overweight” on Tuesday, March 27. J.P. Morgan upgraded the shares of PLD in report on Tuesday, March 27 to “Buy” rating. The rating was maintained by Cantor Fitzgerald on Tuesday, January 23 with “Buy”. The stock has “Buy” rating by Stifel Nicolaus on Tuesday, April 17. The stock of Prologis, Inc. (NYSE:PLD) earned “Hold” rating by Jefferies on Tuesday, January 23. The rating was maintained by BMO Capital Markets with “Buy” on Friday, May 18. BMO Capital Markets maintained the shares of PLD in report on Tuesday, January 23 with “Buy” rating. As per Thursday, April 12, the company rating was upgraded by Jefferies.

Prologis, Inc. (NYSE:PLD) Ratings Chart

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