Institute for Wealth Management LLC. Invests $314,000 in Wabco Holdings Inc. (WBC) Stock
Institute for Wealth Management LLC. purchased a new stake in Wabco Holdings Inc. (NYSE:WBC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,451 shares of the auto parts company’s stock, valued at approximately $314,000.
A number of other hedge funds also recently made changes to their positions in WBC. HighTower Advisors LLC bought a new stake in Wabco Holdings in the second quarter valued at $552,000. Balyasny Asset Management LLC raised its stake in Wabco Holdings by 60.6% during the second quarter. Balyasny Asset Management LLC now owns 118,562 shares of the auto parts company’s stock worth $15,118,000 after acquiring an additional 44,744 shares in the last quarter. Wolverine Trading LLC acquired a new position in Wabco Holdings during the second quarter worth $2,190,000. Stifel Financial Corp raised its stake in Wabco Holdings by 4.3% during the second quarter. Stifel Financial Corp now owns 29,512 shares of the auto parts company’s stock worth $3,771,000 after acquiring an additional 1,230 shares in the last quarter. Finally, Brandywine Global Investment Management LLC raised its stake in Wabco Holdings by 5.3% during the second quarter. Brandywine Global Investment Management LLC now owns 48,934 shares of the auto parts company’s stock worth $6,240,000 after acquiring an additional 2,464 shares in the last quarter. 97.53% of the stock is currently owned by institutional investors and hedge funds.
In other Wabco Holdings news, Director G Peter Daloia sold 3,626 shares of the business’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $139.78, for a total transaction of $506,842.28. Following the sale, the director now owns 4,316 shares of the company’s stock, valued at $603,290.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Juergen Gromer sold 7,127 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $138.00, for a total transaction of $983,526.00. Following the sale, the director now directly owns 969 shares in the company, valued at approximately $133,722. The disclosure for this sale can be found here. In the last three months, insiders sold 14,054 shares of company stock valued at $1,952,903. 0.79% of the stock is owned by insiders.
A number of brokerages have issued reports on WBC. Zacks Investment Research raised Wabco Holdings from a “hold” rating to a “buy” rating and set a $166.00 price objective for the company in a report on Friday. Berenberg Bank initiated coverage on shares of Wabco Holdings in a report on Monday, September 25th. They issued a “buy” rating and a $173.00 target price on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Wabco Holdings in a report on Monday, September 25th. KeyCorp reiterated a “buy” rating and set a $161.00 target price (up previously from $156.00) on shares of Wabco Holdings in a research report on Tuesday, September 19th. Finally, Buckingham Research began coverage on shares of Wabco Holdings in a research report on Tuesday, September 5th. They set a “neutral” rating and a $142.00 target price for the company. One analyst has rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Wabco Holdings currently has a consensus rating of “Buy” and a consensus target price of $145.69.
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Shares of Wabco Holdings Inc. (NYSE WBC) traded up 0.70% during trading on Tuesday, hitting $149.09. 24,475 shares of the stock were exchanged. The firm has a 50 day moving average price of $142.63 and a 200 day moving average price of $128.36. Wabco Holdings Inc. has a 52 week low of $96.10 and a 52 week high of $150.71. The firm has a market capitalization of $8.00 billion, a P/E ratio of 24.87 and a beta of 1.65.
Wabco Holdings (NYSE:WBC) last released its quarterly earnings data on Thursday, July 20th. The auto parts company reported $1.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.54 by $0.15. The business had revenue of $795.00 million during the quarter, compared to analysts’ expectations of $759.33 million. Wabco Holdings had a net margin of 11.23% and a return on equity of 40.21%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.43 EPS. Analysts forecast that Wabco Holdings Inc. will post $6.28 EPS for the current fiscal year.
Wabco Holdings Company Profile
WABCO Holdings Inc is a supplier of electronic, mechanical, electro-mechanical and aerodynamic products for various manufacturers of commercial trucks, buses and trailers, as well as passenger cars. The Company engineers, develops, manufactures and sells braking, stability, suspension and transmission automation and air management systems primarily for commercial vehicles.
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