Burney Co. Reduces Position in Whirlpool Corporation (WHR)
Burney Co. lowered its stake in shares of Whirlpool Corporation (NYSE:WHR) by 6.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 95,127 shares of the company’s stock after selling 6,564 shares during the period. Whirlpool Corporation makes up about 1.2% of Burney Co.’s portfolio, making the stock its 15th largest position. Burney Co. owned approximately 0.13% of Whirlpool Corporation worth $17,888,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Macquarie Group Ltd. raised its stake in Whirlpool Corporation by 72.0% in the fourth quarter. Macquarie Group Ltd. now owns 4,300 shares of the company’s stock valued at $782,000 after buying an additional 1,800 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in Whirlpool Corporation during the first quarter valued at $196,000. Retirement Systems of Alabama raised its stake in Whirlpool Corporation by 1.1% in the first quarter. Retirement Systems of Alabama now owns 36,008 shares of the company’s stock valued at $6,169,000 after buying an additional 407 shares during the last quarter. Korea Investment CORP raised its stake in Whirlpool Corporation by 59.6% in the first quarter. Korea Investment CORP now owns 27,590 shares of the company’s stock valued at $4,727,000 after buying an additional 10,301 shares during the last quarter. Finally, Glen Harbor Capital Management LLC raised its stake in Whirlpool Corporation by 8.7% in the first quarter. Glen Harbor Capital Management LLC now owns 2,000 shares of the company’s stock valued at $343,000 after buying an additional 160 shares during the last quarter. Institutional investors own 91.52% of the company’s stock.
Whirlpool Corporation (NYSE:WHR) traded up 0.4147% during mid-day trading on Friday, reaching $172.3317. The company’s stock had a trading volume of 46,487 shares. Whirlpool Corporation has a 12-month low of $145.91 and a 12-month high of $202.99. The stock has a market cap of $12.58 billion, a price-to-earnings ratio of 17.2487 and a beta of 1.79. The firm’s 50 day moving average price is $178.42 and its 200 day moving average price is $180.38.
Whirlpool Corporation (NYSE:WHR) last announced its quarterly earnings results on Wednesday, July 26th. The company reported $3.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.54 by $0.19. Whirlpool Corporation had a net margin of 3.61% and a return on equity of 18.17%. The business had revenue of $5.35 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same period last year, the company earned $3.50 EPS. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, equities analysts predict that Whirlpool Corporation will post $14.64 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be paid a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend is Wednesday, August 23rd. Whirlpool Corporation’s dividend payout ratio (DPR) is presently 44.04%.
Whirlpool Corporation announced that its board has initiated a stock buyback plan on Wednesday, July 26th that permits the company to repurchase $2.35 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 16.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
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WHR has been the topic of several recent research reports. Royal Bank Of Canada restated a “buy” rating and set a $216.00 price target on shares of Whirlpool Corporation in a report on Friday, June 2nd. Credit Suisse Group initiated coverage on Whirlpool Corporation in a report on Thursday, June 22nd. They set a “neutral” rating and a $208.00 price target on the stock. BidaskClub lowered Whirlpool Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Zacks Investment Research lowered Whirlpool Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Six analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $194.71.
In other Whirlpool Corporation news, Director William D. Perez purchased 1,000 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were acquired at an average price of $176.93 per share, with a total value of $176,930.00. Following the purchase, the director now directly owns 7,239 shares in the company, valued at approximately $1,280,796.27. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.69% of the company’s stock.
About Whirlpool Corporation
Whirlpool Corporation is a manufacturer and marketer of home appliances. The Company’s segments include North America; Europe, Middle East and Africa (EMEA); Latin America, and Asia. In North America, the Company markets and distributes home appliances and small domestic appliances under a range of brand names.
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