Wellington Management Group LLP Invests $41.49 Million in Fortrea Holdings Inc. $FTRE

Wellington Management Group LLP bought a new position in shares of Fortrea Holdings Inc. (NASDAQ:FTREFree Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 2,384,349 shares of the company’s stock, valued at approximately $41,488,000. Wellington Management Group LLP owned approximately 2.51% of Fortrea as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in FTRE. Sanctuary Advisors LLC increased its holdings in shares of Fortrea by 1.7% during the fourth quarter. Sanctuary Advisors LLC now owns 36,648 shares of the company’s stock worth $632,000 after buying an additional 627 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of Fortrea by 3.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 21,166 shares of the company’s stock worth $365,000 after acquiring an additional 700 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Fortrea by 9.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 10,936 shares of the company’s stock worth $103,000 after acquiring an additional 953 shares during the last quarter. Larson Financial Group LLC grew its position in Fortrea by 136.7% during the 4th quarter. Larson Financial Group LLC now owns 1,856 shares of the company’s stock worth $32,000 after acquiring an additional 1,072 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in Fortrea by 15.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 9,699 shares of the company’s stock valued at $167,000 after purchasing an additional 1,313 shares in the last quarter.

Insider Transactions at Fortrea

In other Fortrea news, CEO Anshul Thakral sold 99,869 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $19.16, for a total transaction of $1,913,490.04. Following the transaction, the chief executive officer directly owned 316,797 shares in the company, valued at approximately $6,069,830.52. This represents a 23.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on FTRE. Evercore reiterated an “outperform” rating on shares of Fortrea in a research report on Wednesday, July 29th. Wall Street Zen lowered Fortrea from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. TD Cowen lifted their price target on Fortrea from $19.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fortrea in a research report on Friday, July 17th. Finally, Truist Financial increased their price objective on shares of Fortrea from $19.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $20.75.

View Our Latest Research Report on FTRE

Fortrea Stock Up 1.4%

NASDAQ FTRE opened at $18.62 on Friday. The stock has a market capitalization of $1.77 billion, a P/E ratio of -20.46, a price-to-earnings-growth ratio of 0.44 and a beta of 1.97. Fortrea Holdings Inc. has a 52 week low of $8.31 and a 52 week high of $21.39. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a fifty day moving average of $18.28 and a 200-day moving average of $14.28.

Fortrea (NASDAQ:FTREGet Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.05. The business had revenue of $678.20 million for the quarter, compared to analyst estimates of $647.57 million. Fortrea had a positive return on equity of 10.72% and a negative net margin of 3.18%. On average, equities research analysts forecast that Fortrea Holdings Inc. will post 0.85 EPS for the current year.

Fortrea Company Profile

(Free Report)

Fortrea, Inc is a global contract development and manufacturing organization (CDMO) that provides integrated solutions for pharmaceutical and biotechnology companies. Established as a spin-off from Thermo Fisher Scientific’s Pharma Services business in October 2023, Fortrea leverages a legacy of scientific expertise and manufacturing scale to support drug development from early-stage research through commercial production. The company’s comprehensive offerings address the complex needs of both small-molecule and biologics programs, making it a single source for clients seeking to accelerate timelines and manage costs.

Fortrea’s core services encompass analytical and formulation development, process optimization, clinical and commercial manufacturing, and packaging services.

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Institutional Ownership by Quarter for Fortrea (NASDAQ:FTRE)

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