Electron Capital Partners LLC increased its holdings in Forterra Inc (NASDAQ:FRTA) by 97.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,083,005 shares of the construction company’s stock after purchasing an additional 533,623 shares during the period. Forterra makes up about 2.0% of Electron Capital Partners LLC’s holdings, making the stock its 14th biggest holding. Electron Capital Partners LLC owned approximately 1.68% of Forterra worth $12,021,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. Teachers Advisors LLC boosted its stake in shares of Forterra by 6.2% in the 2nd quarter. Teachers Advisors LLC now owns 36,867 shares of the construction company’s stock valued at $303,000 after purchasing an additional 2,162 shares in the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of Forterra by 6.8% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 47,555 shares of the construction company’s stock valued at $391,000 after purchasing an additional 3,012 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Forterra by 379.5% in the 4th quarter. Bank of Montreal Can now owns 9,590 shares of the construction company’s stock valued at $107,000 after purchasing an additional 7,590 shares in the last quarter. Two Sigma Investments LP purchased a new stake in shares of Forterra in the 4th quarter valued at $139,000. Finally, Voya Investment Management LLC purchased a new stake in shares of Forterra in the 2nd quarter valued at $104,000.
FRTA has been the subject of a number of research reports. Barclays upped their price objective on shares of Forterra from $4.00 to $7.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 14th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $9.00 price objective on shares of Forterra in a research note on Wednesday, November 15th. Stephens reaffirmed an “equal weight” rating and issued a $9.00 price objective (up previously from $4.00) on shares of Forterra in a research note on Wednesday, November 15th. Zacks Investment Research cut shares of Forterra from a “buy” rating to a “hold” rating in a research note on Monday, January 1st. Finally, BidaskClub raised shares of Forterra from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 3rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $11.81.
Forterra (NASDAQ:FRTA) last announced its quarterly earnings results on Wednesday, March 7th. The construction company reported ($0.28) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.05). The firm had revenue of $361.17 million for the quarter, compared to analysts’ expectations of $327.91 million. Forterra had a negative net margin of 0.13% and a negative return on equity of 44.06%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.81) EPS.
Forterra, Inc is a manufacturer of pipe and precast products. The Company offers products for a range of water-related infrastructure applications, including water transmission, distribution and drainage. The Company operates approximately 95 facilities. Its products are available in the United States and Eastern Canada.
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