As 3M Co (MMM) Valuation Rose, Tortoise Investment Management Has Upped Stake by $483,000; Eastern Bank Position in Nextera Energy (NEE) Has Increased by $6.10 Million

February 25, 2018 - By Dolores Ford

Tortoise Investment Management Llc increased its stake in 3M Co (MMM) by 205.54% based on its latest 2017Q3 regulatory filing with the SEC. Tortoise Investment Management Llc bought 2,300 shares as the company’s stock rose 7.02% with the market. The institutional investor held 3,419 shares of the medical and dental instruments company at the end of 2017Q3, valued at $718,000, up from 1,119 at the end of the previous reported quarter. Tortoise Investment Management Llc who had been investing in 3M Co for a number of months, seems to be bullish on the $141.15 billion market cap company. The stock increased 0.43% or $1.02 during the last trading session, reaching $237.02. About 1.62 million shares traded. 3M Company (NYSE:MMM) has risen 18.59% since February 25, 2017 and is uptrending. It has outperformed by 1.89% the S&P500.

Eastern Bank increased its stake in Nextera Energy Inc (NEE) by 2108.23% based on its latest 2017Q3 regulatory filing with the SEC. Eastern Bank bought 41,764 shares as the company’s stock rose 8.22% with the market. The institutional investor held 43,745 shares of the public utilities company at the end of 2017Q3, valued at $6.41 million, up from 1,981 at the end of the previous reported quarter. Eastern Bank who had been investing in Nextera Energy Inc for a number of months, seems to be bullish on the $73.57B market cap company. The stock increased 2.59% or $3.95 during the last trading session, reaching $156.26. About 1.82M shares traded. NextEra Energy, Inc. (NYSE:NEE) has risen 15.94% since February 25, 2017 and is uptrending. It has underperformed by 0.76% the S&P500.

Investors sentiment decreased to 0.77 in 2017 Q3. Its down 0.14, from 0.91 in 2017Q2. It turned negative, as 59 investors sold MMM shares while 612 reduced holdings. 101 funds opened positions while 417 raised stakes. 387.06 million shares or 0.01% more from 387.02 million shares in 2017Q2 were reported. Columbia Partners L L C Investment invested 1.14% in 3M Company (NYSE:MMM). Texas-based Dimensional Fund Advsrs Ltd Partnership has invested 0.14% in 3M Company (NYSE:MMM). Optimum Invest Advsr holds 0.17% of its portfolio in 3M Company (NYSE:MMM) for 2,442 shares. Addenda Capital has invested 0.21% in 3M Company (NYSE:MMM). Appleton Ma reported 15,654 shares. Rothschild Investment Il holds 0.32% or 13,657 shares. 13,480 were reported by Stearns Group. 454,757 were reported by Prudential Public Limited Com. State Bank Of Nova Scotia Tru Com, a Ontario – Canada-based fund reported 44,305 shares. Bristol John W Ny accumulated 353,933 shares or 2.15% of the stock. Chickasaw Capital Mgmt Ltd Company accumulated 5,380 shares or 0.02% of the stock. Nbt Financial Bank N A holds 0.6% of its portfolio in 3M Company (NYSE:MMM) for 17,818 shares. 107,591 are held by First Fincl Bank Of Omaha. Colony Gru Limited Co accumulated 9,255 shares. Davis R M Inc holds 1.38% of its portfolio in 3M Company (NYSE:MMM) for 159,590 shares.

Since October 27, 2017, it had 0 insider purchases, and 20 sales for $33.77 million activity. $1.37M worth of 3M Company (NYSE:MMM) shares were sold by THULIN INGE G. $56,178 worth of 3M Company (NYSE:MMM) shares were sold by Vrohidis Ippocratis. The insider Gangestad Nicholas C sold $936,291. Fong Ivan K sold $547,377 worth of stock or 2,348 shares. Another trade for 1,500 shares valued at $351,708 was made by Little Frank R Jr. on Friday, October 27. The insider Keel Paul A sold $3.33M.

Among 16 analysts covering 3M (NYSE:MMM), 7 have Buy rating, 4 Sell and 5 Hold. Therefore 44% are positive. 3M had 79 analyst reports since July 24, 2015 according to SRatingsIntel. As per Thursday, July 13, the company rating was maintained by Jefferies. Credit Suisse maintained the stock with “Buy” rating in Friday, April 28 report. Stifel Nicolaus maintained the shares of MMM in report on Wednesday, July 19 with “Hold” rating. The stock has “Hold” rating by RBC Capital Markets on Wednesday, January 3. The company was maintained on Wednesday, March 30 by UBS. Credit Suisse maintained 3M Company (NYSE:MMM) on Wednesday, October 25 with “Outperform” rating. The firm earned “Buy” rating on Tuesday, April 12 by Jefferies. The stock of 3M Company (NYSE:MMM) earned “Buy” rating by Citigroup on Tuesday, April 19. On Friday, September 25 the stock rating was upgraded by Credit Suisse to “Outperform”. The rating was upgraded by Goldman Sachs on Wednesday, October 25 to “Hold”.

Eastern Bank, which manages about $1.41B US Long portfolio, decreased its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 55,679 shares to 96,402 shares, valued at $11.43 million in 2017Q3, according to the filing. It also reduced its holding in I Shares (IEI) by 3,857 shares in the quarter, leaving it with 114,913 shares, and cut its stake in Apple (NASDAQ:AAPL).

Since September 18, 2017, it had 0 insider buys, and 5 sales for $7.05 million activity. $300,000 worth of NextEra Energy, Inc. (NYSE:NEE) was sold by Kelliher Joseph T on Wednesday, October 11. 2,900 shares were sold by KETCHUM JOHN W, worth $435,000 on Monday, September 18. 9,250 NextEra Energy, Inc. (NYSE:NEE) shares with value of $1.40M were sold by Pimentel Armando Jr.

Among 15 analysts covering Nextera Energy Inc. (NYSE:NEE), 13 have Buy rating, 0 Sell and 2 Hold. Therefore 87% are positive. Nextera Energy Inc. had 39 analyst reports since August 5, 2015 according to SRatingsIntel. The stock has “Hold” rating by Zacks on Monday, August 31. The firm has “Buy” rating by RBC Capital Markets given on Sunday, September 3. The stock of NextEra Energy, Inc. (NYSE:NEE) earned “Buy” rating by Guggenheim on Friday, January 26. The rating was maintained by Barclays Capital with “Overweight” on Friday, March 18. The stock has “Buy” rating by Goldman Sachs on Monday, July 24. BMO Capital Markets maintained the stock with “Buy” rating in Monday, April 3 report. The company was maintained on Thursday, June 22 by BMO Capital Markets. JP Morgan maintained NextEra Energy, Inc. (NYSE:NEE) rating on Thursday, October 12. JP Morgan has “Neutral” rating and $169 target. Morgan Stanley maintained it with “Overweight” rating and $165 target in Tuesday, February 13 report. Morgan Stanley maintained NextEra Energy, Inc. (NYSE:NEE) on Wednesday, December 13 with “Overweight” rating.

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