Investment Portfolio Shifts
Meyer Handelman Co. Diversifies Portfolio, Acquiring New Stake in PTC Inc. Alongside Other Adjustments
Key Points
Meyer Handelman Co. sold 3,351 TJX shares in the first quarter, leaving the position at 165,134 shares valued at about $26.37 million.
Meyer Handelman Co. purchased an additional 3,138 shares of Automatic Data Processing (ADP) in the first quarter, bringing its total to 88,198 shares worth roughly $17.92 million.
Nordea Investment Management AB increased its PTC stake by 25.9% in the fourth quarter to 269,396 shares, valued at about $47.14 million.
NRG Energy insider activity: Vice President Virginia Kinney sold 20,000 shares in a transaction dated June 15.
Meyer Handelman Co., a Rye Brook, New York investment firm managing roughly $3.22 billion in assets, opened a brand-new $6.92 million stake in PTC Inc. during the first quarter of 2026, according to Watchlist News. The firm bought 48,544 shares of the industrial software maker — a notable bet on a company in the middle of a major strategic overhaul.
The PTC purchase was just one move in a busy quarter. Meyer Handelman also added to its positions in Automatic Data Processing and NRG Energy, while trimming holdings in TJX Companies and RTX. The firm's total portfolio value rose 0.71% from the prior quarter, per Watchlist News.
Why Meyer Handelman Bet on PTC Now
PTC Inc. is not the same company it was a year ago. In November 2025, it sold its Kepware and ThingWorx internet-of-things businesses to private equity firm TPG for about $523 million. The goal was to sharpen its focus on computer-aided design (CAD) and product lifecycle management (PLM) software — tools that help manufacturers design and track products from start to finish.
That strategic cleanup appears to be paying off. PTC posted Q2 2026 earnings of $2.69 per share in May, blowing past the $2.10 analyst estimate, on revenue of $774 million. The stock jumped 8.9% after the report. Meyer Handelman's Q1 purchase came before that earnings pop, suggesting the firm moved early on the turnaround story.
PTC's New AI Platform Draws Mixed Analyst Reactions
At its June 9–10 NEXT event in Chicago, PTC CEO Neil Barua unveiled "PTC Orbit," an AI-first platform designed to pull together data from manufacturing, customer, and factory systems into one place. Barua said the new tools help customers "move faster without sacrificing cost." PTC has also authorized up to $1.325 billion in share buybacks for fiscal 2026, a sign management believes the stock is undervalued.
Not everyone is sold. BNP Paribas initiated coverage of PTC on June 18 with a "Neutral" rating and a price target of just $130 — well below the analyst average of $184.06. The firm flagged risks around how long the new Orbit platform will take to generate recurring revenue. BMO Capital and Barclays are more bullish, with targets as high as $230, pointing to PTC's strong financial health score and SaaS transition progress.
Meyer Handelman Adds ADP and NRG, Trims TJX and RTX
Beyond PTC, Meyer Handelman made several smaller adjustments. It added 3,138 shares of Automatic Data Processing, lifting its total to 88,198 shares worth about $17.92 million — a 3.7% increase. It also bought 5,178 more shares of NRG Energy, bringing that position to 120,089 shares valued at roughly $17.55 million, a 4.5% increase, per Watchlist News.
On the sell side, the firm cut 3,351 shares of TJX Companies, leaving 165,134 shares worth $26.37 million — a 2% reduction. It also trimmed its RTX stake by 1.8%, to 172,126 shares valued at $33.20 million. Analysts see the ADP and NRG additions as a hedge: ADP offers stable payroll-sector income, while NRG has raised its dividend for six consecutive years, per Watchlist News.
NRG Insider Sells $2.5 Million in Shares Despite Fund Buying
There is one wrinkle in the NRG picture. On June 15, Virginia Kinney, NRG's Executive Vice President and Chief Administrative Officer, sold 20,000 shares at $127.52 each, totaling about $2.55 million. That sale cut her direct holdings by roughly 30.7%. On the surface, insider selling while an institution buys can look like a red flag.
The context matters, though. Kinney adopted a Rule 10b5-1 trading plan back in August 2025 — nearly a year before the sale. These pre-scheduled plans are designed to remove personal timing decisions from the trade. Institutional analysts widely treat 10b5-1 sales as routine and separate from any view on current company performance, meaning Meyer Handelman's bullish NRG move and Kinney's sale are likely unrelated.
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