CPFL Energia S.A. (NYSE:CPL) Position Reduced by World Asset Management Inc
World Asset Management Inc lowered its position in shares of CPFL Energia S.A. (NYSE:CPL) by 5.5% during the second quarter, Holdings Channel reports. The fund owned 29,974 shares of the utilities provider’s stock after selling 1,733 shares during the period. World Asset Management Inc’s holdings in CPFL Energia were worth $478,000 as of its most recent filing with the SEC.
Other large investors have also recently added to or reduced their stakes in the company. Cowen Group Inc. purchased a new stake in CPFL Energia during the first quarter worth $4,917,000. AXA purchased a new stake in CPFL Energia during the first quarter worth $479,000. Mirae Asset Global Investments Co. Ltd. raised its stake in CPFL Energia by 2.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,150 shares of the utilities provider’s stock worth $330,000 after buying an additional 417 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake in CPFL Energia by 3.1% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 8,291 shares of the utilities provider’s stock worth $136,000 after buying an additional 250 shares during the last quarter. Finally, Karp Capital Management Corp purchased a new stake in CPFL Energia during the first quarter worth $2,576,000. 1.86% of the stock is owned by institutional investors and hedge funds.
Shares of CPFL Energia S.A. (CPL) opened at 16.91 on Friday. CPFL Energia S.A. has a 12-month low of $13.27 and a 12-month high of $17.24. The company’s 50-day moving average is $16.62 and its 200-day moving average is $16.35. The firm has a market capitalization of $8.61 billion, a price-to-earnings ratio of 31.31 and a beta of 1.39.
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Separately, BidaskClub lowered shares of CPFL Energia from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th.
About CPFL Energia
CPFL Energia SA is a holding company. The Company, through its subsidiaries, distributes, generates, transmits and commercializes electricity in Brazil, as well as provides energy-related services. Its segments include Distribution, Conventional Generation Sources, Renewable Energy Generation, Commercialization and Services.
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