Panagora Asset Management Inc. raised its stake in shares of WABCO Holdings Inc. (NYSE:WBC) by 9.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 156,192 shares of the auto parts company’s stock after purchasing an additional 12,960 shares during the period. Panagora Asset Management Inc.’s holdings in WABCO were worth $18,421,000 as of its most recent filing with the SEC.
A number of other large investors also recently added to or reduced their stakes in the business. Metropolitan Life Insurance Co. NY grew its holdings in WABCO by 11.4% during the second quarter. Metropolitan Life Insurance Co. NY now owns 4,216 shares of the auto parts company’s stock valued at $493,000 after purchasing an additional 433 shares during the period. Toronto Dominion Bank grew its holdings in WABCO by 8.8% during the third quarter. Toronto Dominion Bank now owns 5,825 shares of the auto parts company’s stock valued at $687,000 after purchasing an additional 469 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in WABCO by 2.4% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 20,920 shares of the auto parts company’s stock valued at $2,467,000 after purchasing an additional 493 shares during the period. Daiwa SB Investments Ltd. grew its holdings in WABCO by 9.1% during the third quarter. Daiwa SB Investments Ltd. now owns 5,970 shares of the auto parts company’s stock valued at $704,000 after purchasing an additional 500 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ grew its holdings in WABCO by 21.5% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 3,388 shares of the auto parts company’s stock valued at $400,000 after purchasing an additional 600 shares during the period. 99.24% of the stock is owned by institutional investors and hedge funds.
WBC has been the subject of several recent research reports. Stifel Nicolaus cut their price target on WABCO from $159.00 to $152.00 and set a “buy” rating for the company in a report on Monday, September 24th. Citigroup cut their price target on WABCO from $140.00 to $130.00 and set a “buy” rating for the company in a report on Friday, October 19th. Morgan Stanley set a $135.00 price objective on WABCO and gave the company a “buy” rating in a research report on Thursday, September 13th. ValuEngine upgraded WABCO from a “sell” rating to a “hold” rating in a research report on Wednesday, November 21st. Finally, Bank of America downgraded WABCO from a “buy” rating to an “underperform” rating and lowered their price objective for the company from $130.00 to $95.00 in a research report on Wednesday, October 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. WABCO currently has a consensus rating of “Hold” and a consensus target price of $132.82.
Shares of WABCO stock opened at $121.45 on Friday. WABCO Holdings Inc. has a 52 week low of $100.80 and a 52 week high of $162.20. The stock has a market capitalization of $6.27 billion, a PE ratio of 17.70, a price-to-earnings-growth ratio of 1.04 and a beta of 1.79. The company has a current ratio of 2.28, a quick ratio of 1.89 and a debt-to-equity ratio of 0.70.
WABCO (NYSE:WBC) last announced its quarterly earnings data on Thursday, October 18th. The auto parts company reported $1.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.19. WABCO had a return on equity of 33.10% and a net margin of 11.62%. The business had revenue of $914.80 million for the quarter, compared to the consensus estimate of $932.66 million. During the same period in the previous year, the business earned $1.71 earnings per share. The business’s revenue was up 10.5% on a year-over-year basis. On average, equities research analysts anticipate that WABCO Holdings Inc. will post 7.73 EPS for the current fiscal year.
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, transmission automation, and air management systems primarily for commercial vehicles.
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