State Board of Administration of Florida Retirement System boosted its holdings in shares of WABCO Holdings Inc. (NYSE:WBC) by 0.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 66,560 shares of the auto parts company’s stock after acquiring an additional 400 shares during the period. State Board of Administration of Florida Retirement System’s holdings in WABCO were worth $8,775,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of WBC. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of WABCO by 130.9% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 38,233 shares of the auto parts company’s stock valued at $4,104,000 after acquiring an additional 21,674 shares during the last quarter. Northwest Bancshares Inc. acquired a new stake in shares of WABCO in the first quarter valued at about $233,000. First Manhattan Co. increased its position in shares of WABCO by 37.3% in the fourth quarter. First Manhattan Co. now owns 1,394,914 shares of the auto parts company’s stock valued at $149,730,000 after acquiring an additional 378,995 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. increased its position in shares of WABCO by 14.9% in the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 14,315 shares of the auto parts company’s stock valued at $1,537,000 after acquiring an additional 1,860 shares during the last quarter. Finally, Boston Partners increased its position in shares of WABCO by 2.7% in the fourth quarter. Boston Partners now owns 1,103,674 shares of the auto parts company’s stock valued at $118,469,000 after acquiring an additional 28,781 shares during the last quarter. Hedge funds and other institutional investors own 99.82% of the company’s stock.
In other news, insider Nicolas Bardot sold 1,145 shares of the business’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $120.93, for a total transaction of $138,464.85. Following the completion of the sale, the insider now owns 4,546 shares in the company, valued at $549,747.78. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.58% of the company’s stock.
A number of research firms recently issued reports on WBC. Citigroup downgraded WABCO from a “buy” rating to a “neutral” rating and lowered their target price for the company from $155.00 to $136.50 in a research report on Friday, March 29th. ValuEngine raised WABCO from a “sell” rating to a “hold” rating in a research report on Thursday, February 28th. William Blair downgraded WABCO from an “outperform” rating to a “market perform” rating in a research report on Friday, April 26th. Royal Bank of Canada downgraded WABCO from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from $136.00 to $136.50 in a research report on Friday, March 29th. Finally, Stifel Nicolaus set a $134.00 price target on WABCO and gave the stock a “buy” rating in a report on Wednesday, February 20th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $134.20.
WABCO stock traded down $0.23 during midday trading on Monday, reaching $130.44. 6,902 shares of the company’s stock were exchanged, compared to its average volume of 658,944. WABCO Holdings Inc. has a 52 week low of $98.90 and a 52 week high of $146.68. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.13 and a current ratio of 2.60. The stock has a market capitalization of $6.69 billion, a P/E ratio of 16.57, a PEG ratio of 1.14 and a beta of 1.59.
WABCO (NYSE:WBC) last posted its quarterly earnings results on Friday, February 15th. The auto parts company reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.14. WABCO had a return on equity of 30.90% and a net margin of 10.04%. The business had revenue of $911.60 million during the quarter, compared to analysts’ expectations of $963.33 million. During the same quarter last year, the company posted $2.00 earnings per share. WABCO’s quarterly revenue was down 2.4% on a year-over-year basis. Research analysts forecast that WABCO Holdings Inc. will post 7.65 earnings per share for the current year.
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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.
Further Reading: Understanding Specialty Certificates of Deposit
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