Great West Life Assurance Co. Can Reduces Holdings in Welbilt, Inc (NYSE:WBT)

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Great West Life Assurance Co. Can lowered its position in shares of Welbilt, Inc (NYSE:WBT) by 46.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,678 shares of the industrial products company’s stock after selling 6,792 shares during the period. Great West Life Assurance Co. Can’s holdings in Welbilt were worth $129,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of WBT. First Trust Advisors LP purchased a new stake in shares of Welbilt during the first quarter valued at approximately $988,000. Handelsbanken Fonder AB raised its stake in shares of Welbilt by 1.9% during the second quarter. Handelsbanken Fonder AB now owns 2,619,942 shares of the industrial products company’s stock valued at $43,753,000 after purchasing an additional 50,000 shares during the period. Diversified Trust Co raised its stake in shares of Welbilt by 10.8% during the second quarter. Diversified Trust Co now owns 26,850 shares of the industrial products company’s stock valued at $448,000 after purchasing an additional 2,625 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Welbilt by 46.8% during the second quarter. Nisa Investment Advisors LLC now owns 18,200 shares of the industrial products company’s stock valued at $304,000 after purchasing an additional 5,800 shares during the period. Finally, CWM Advisors LLC purchased a new stake in shares of Welbilt during the second quarter valued at approximately $176,000.

Shares of NYSE:WBT opened at $18.28 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.07 and a debt-to-equity ratio of 6.81. The company has a fifty day simple moving average of $17.59 and a 200 day simple moving average of $16.52. The firm has a market cap of $2.46 billion, a PE ratio of 26.06 and a beta of 1.70. Welbilt, Inc has a 12-month low of $10.66 and a 12-month high of $19.81.

Welbilt (NYSE:WBT) last issued its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.03). The company had revenue of $410.50 million during the quarter, compared to the consensus estimate of $423.03 million. Welbilt had a return on equity of 48.23% and a net margin of 3.82%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter last year, the firm posted $0.25 EPS. As a group, equities research analysts forecast that Welbilt, Inc will post 0.7 EPS for the current fiscal year.

In related news, CEO William Johnson purchased 13,496 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was acquired at an average price of $14.82 per share, for a total transaction of $200,010.72. Following the completion of the purchase, the chief executive officer now owns 78,502 shares in the company, valued at $1,163,399.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.37% of the stock is currently owned by insiders.

A number of analysts have recently issued reports on the stock. BMO Capital Markets initiated coverage on shares of Welbilt in a research note on Friday, October 18th. They set a “market perform” rating and a $19.00 price objective on the stock. ValuEngine lowered shares of Welbilt from a “hold” rating to a “sell” rating in a research note on Monday. Finally, Barclays restated a “buy” rating and issued a $20.00 price target on shares of Welbilt in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. Welbilt currently has a consensus rating of “Buy” and a consensus price target of $18.40.

About Welbilt

Welbilt is a leading global supplier of commercial foodservice equipment. Their broad, award-winning hot- and cold-side product portfolio includes many brands, including Cleveland Range, Convotherm, Delfield, Frymaster, Garland, Kolpak, Lincoln, Manitowac, Merco, Merrychef, and Multiplex Beverage.

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Institutional Ownership by Quarter for Welbilt (NYSE:WBT)

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