Pioneer Investment Management Inc. Decreases Stake in Whirlpool Corporation (WHR)
Pioneer Investment Management Inc. reduced its stake in Whirlpool Corporation (NYSE:WHR) by 89.5% during the second quarter, Holdings Channel reports. The firm owned 10,300 shares of the company’s stock after selling 87,653 shares during the period. Pioneer Investment Management Inc.’s holdings in Whirlpool Corporation were worth $1,974,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently modified their holdings of WHR. BlackRock Inc. boosted its position in shares of Whirlpool Corporation by 3,484.6% in the first quarter. BlackRock Inc. now owns 4,983,869 shares of the company’s stock valued at $853,885,000 after buying an additional 4,844,832 shares during the period. Levin Capital Strategies L.P. purchased a new position in shares of Whirlpool Corporation during the first quarter valued at approximately $113,386,000. Findlay Park Partners LLP boosted its position in shares of Whirlpool Corporation by 333.3% in the first quarter. Findlay Park Partners LLP now owns 650,000 shares of the company’s stock valued at $111,365,000 after buying an additional 500,000 shares during the period. SG Americas Securities LLC boosted its position in shares of Whirlpool Corporation by 105.1% in the first quarter. SG Americas Securities LLC now owns 22,554 shares of the company’s stock valued at $3,864,000 after buying an additional 464,224 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of Whirlpool Corporation by 17.2% in the first quarter. Bank of America Corp DE now owns 1,787,659 shares of the company’s stock valued at $306,280,000 after buying an additional 262,246 shares during the period. 94.26% of the stock is owned by hedge funds and other institutional investors.
Whirlpool Corporation (WHR) opened at 173.19 on Wednesday. Whirlpool Corporation has a one year low of $145.91 and a one year high of $202.99. The company has a market capitalization of $12.64 billion, a PE ratio of 17.33 and a beta of 1.79. The firm’s 50 day moving average price is $185.41 and its 200-day moving average price is $180.85.
Whirlpool Corporation (NYSE:WHR) last released its earnings results on Wednesday, July 26th. The company reported $3.35 earnings per share for the quarter, missing analysts’ consensus estimates of $3.54 by $0.19. The company had revenue of $5.35 billion for the quarter, compared to the consensus estimate of $5.35 billion. Whirlpool Corporation had a net margin of 3.61% and a return on equity of 18.17%. The business’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.50 earnings per share. Equities analysts forecast that Whirlpool Corporation will post $14.63 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.54%. Whirlpool Corporation’s payout ratio is 44.04%.
Whirlpool Corporation announced that its board has authorized a share repurchase plan on Wednesday, July 26th that authorizes the company to buyback $2.35 billion in shares. This buyback authorization authorizes the company to repurchase up to 16.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.
A number of brokerages have issued reports on WHR. Zacks Investment Research cut Whirlpool Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, April 19th. Credit Suisse Group began coverage on Whirlpool Corporation in a report on Thursday, June 22nd. They set a “neutral” rating and a $208.00 price objective for the company. BidaskClub cut Whirlpool Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $216.00 price objective on shares of Whirlpool Corporation in a report on Friday, June 2nd. Six investment 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’s stock. The company presently has an average rating of “Hold” and a consensus price target of $194.71.
In related news, Director William D. Perez bought 1,000 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was purchased at an average cost of $176.93 per share, for a total transaction of $176,930.00. Following the transaction, the director now owns 7,239 shares in the company, valued at approximately $1,280,796.27. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.69% of the company’s stock.
Whirlpool Corporation Company Profile
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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