Kestra Private Wealth Services LLC Has $703,000 Holdings in Fastenal (NASDAQ:FAST)

Kestra Private Wealth Services LLC increased its position in shares of Fastenal (NASDAQ:FAST) by 14.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,782 shares of the company’s stock after acquiring an additional 1,256 shares during the period. Kestra Private Wealth Services LLC’s holdings in Fastenal were worth $703,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of FAST. State Street Corp grew its holdings in Fastenal by 5.1% during the 3rd quarter. State Street Corp now owns 27,989,485 shares of the company’s stock worth $1,999,009,000 after acquiring an additional 1,346,863 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Fastenal by 5.6% in the third quarter. Geode Capital Management LLC now owns 16,683,751 shares of the company’s stock worth $1,188,251,000 after purchasing an additional 880,372 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Fastenal by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 19,878,045 shares of the company’s stock valued at $1,419,690,000 after purchasing an additional 608,596 shares during the period. Benjamin Edwards Inc. raised its position in Fastenal by 1,789.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 535,723 shares of the company’s stock worth $38,262,000 after purchasing an additional 507,364 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in Fastenal by 59.3% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 928,377 shares of the company’s stock worth $66,305,000 after buying an additional 345,537 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Down 0.0 %

Shares of NASDAQ:FAST opened at $74.78 on Friday. The firm has a market cap of $42.88 billion, a P/E ratio of 37.20, a PEG ratio of 3.55 and a beta of 1.02. Fastenal has a 52-week low of $61.36 and a 52-week high of $84.88. The business’s 50 day simple moving average is $74.78 and its two-hundred day simple moving average is $74.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 4.67.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Friday, January 17th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period in the previous year, the business posted $0.46 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, research analysts forecast that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, January 31st will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Friday, January 31st. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s dividend payout ratio is currently 85.57%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on FAST shares. HSBC downgraded 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. Wolfe Research upped their price objective on shares of Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. Jefferies Financial Group increased their price objective on shares of Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Stifel Nicolaus cut their price target on shares of Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Finally, UBS Group assumed coverage on Fastenal in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 price objective for the company. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Fastenal presently has a consensus rating of “Hold” and a consensus price target of $76.91.

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.