Fort L.P. grew its holdings in WABCO Holdings Inc. (NYSE:WBC) by 23.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,209 shares of the auto parts company’s stock after acquiring an additional 986 shares during the period. Fort L.P.’s holdings in WABCO were worth $559,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. ETF Managers Group LLC raised its position in shares of WABCO by 17.8% in the 4th quarter. ETF Managers Group LLC now owns 991 shares of the auto parts company’s stock worth $106,000 after acquiring an additional 150 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of WABCO by 9.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 1,720 shares of the auto parts company’s stock worth $185,000 after acquiring an additional 150 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in WABCO by 1.8% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 9,795 shares of the auto parts company’s stock valued at $1,051,000 after buying an additional 173 shares in the last quarter. IFM Investors Pty Ltd increased its position in WABCO by 6.8% during the 4th quarter. IFM Investors Pty Ltd now owns 2,981 shares of the auto parts company’s stock valued at $320,000 after buying an additional 189 shares in the last quarter. Finally, Athena Capital Advisors LLC bought a new position in WABCO during the 4th quarter valued at approximately $27,000. Institutional investors and hedge funds own 99.64% of the company’s stock.
WBC has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered WABCO from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $115.00 to $98.00 in a research report on Thursday, January 10th. Stifel Nicolaus set a $135.00 price objective on WABCO and gave the company a “buy” rating in a research report on Monday, December 10th. Vertical Research lowered WABCO from a “buy” rating to a “hold” rating in a research report on Monday, January 7th. Morgan Stanley raised their price objective on WABCO from $116.00 to $137.00 and gave the company an “equal weight” rating in a research report on Monday, March 4th. Finally, ValuEngine raised WABCO from a “sell” rating to a “hold” rating in a research report on Thursday, February 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. WABCO presently has a consensus rating of “Hold” and an average price target of $136.47.
In other WABCO news, insider Nicolas Bardot sold 1,145 shares of WABCO stock in a transaction on Monday, February 25th. The stock was sold at an average price of $120.93, for a total value of $138,464.85. Following the completion of the sale, the insider now owns 4,546 shares of the company’s stock, valued at approximately $549,747.78. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.48% of the stock is currently owned by company insiders.
WABCO stock opened at $140.01 on Friday. The firm has a market capitalization of $7.19 billion, a price-to-earnings ratio of 17.79, a price-to-earnings-growth ratio of 1.20 and a beta of 1.62. WABCO Holdings Inc. has a 12 month low of $98.90 and a 12 month high of $146.50. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.01 and a quick ratio of 2.48.
WABCO (NYSE:WBC) last posted its earnings results on Friday, February 15th. The auto parts company reported $2.13 EPS for the quarter, topping the Zacks’ consensus estimate of $1.99 by $0.14. The business had revenue of $911.60 million during the quarter, compared to analyst estimates of $963.33 million. WABCO had a return on equity of 32.91% and a net margin of 10.29%. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.00 EPS. Equities research analysts forecast that WABCO Holdings Inc. will post 7.8 earnings per share for the current year.
WABCO announced that its board has approved a share buyback program on Monday, December 10th that allows the company to repurchase $600.00 million in shares. This repurchase authorization allows the auto parts company to buy up to 10.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
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WABCO Company Profile
WABCO Holdings Inc, together with its subsidiaries, supplies electronic, mechanical, electro-mechanical, and aerodynamic products worldwide. The company engineers, develops, manufactures, and sells braking, stability, suspension, steering, transmission automation, and air management systems primarily for commercial vehicles.
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