US Bancorp DE Has $240,000 Position in Westport Fuel Systems Inc (WPRT)
US Bancorp DE raised its stake in shares of Westport Fuel Systems Inc (NASDAQ:WPRT) (TSE:WPT) by 62.7% during the first quarter, Holdings Channel reports. The firm owned 250,200 shares of the auto parts company’s stock after buying an additional 96,401 shares during the period. US Bancorp DE’s holdings in Westport Fuel Systems were worth $240,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in WPRT. Wells Fargo & Company MN raised its position in shares of Westport Fuel Systems by 496.2% in the first quarter. Wells Fargo & Company MN now owns 108,054 shares of the auto parts company’s stock valued at $103,000 after buying an additional 89,931 shares during the period. Grace & White Inc. NY raised its stake in shares of Westport Fuel Systems by 14.0% in the first quarter. Grace & White Inc. NY now owns 2,091,080 shares of the auto parts company’s stock worth $2,007,000 after buying an additional 256,129 shares during the last quarter. Norges Bank purchased a new stake in shares of Westport Fuel Systems during the fourth quarter worth about $508,000. Finally, Royce & Associates LP raised its stake in shares of Westport Fuel Systems by 20.1% in the fourth quarter. Royce & Associates LP now owns 5,339,483 shares of the auto parts company’s stock worth $6,034,000 after buying an additional 891,893 shares during the last quarter. Institutional investors and hedge funds own 11.38% of the company’s stock.
Shares of Westport Fuel Systems Inc (NASDAQ WPRT) opened at 1.97 on Friday. The company has a 50 day moving average price of $1.55 and a 200-day moving average price of $1.23. The stock’s market cap is $217.33 million. Westport Fuel Systems Inc has a one year low of $0.82 and a one year high of $2.00.
Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPT) last posted its quarterly earnings data on Thursday, May 11th. The auto parts company reported ($0.12) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.03. Westport Fuel Systems had a negative net margin of 32.70% and a negative return on equity of 81.28%. The firm had revenue of $60 million during the quarter, compared to analysts’ expectations of $77.71 million. The company’s revenue was up 150.0% compared to the same quarter last year. Equities analysts predict that Westport Fuel Systems Inc will post ($0.51) earnings per share for the current fiscal year.
WPRT has been the subject of a number of research reports. S&P Equity Research lowered their price target on Westport Fuel Systems from $1.00 to $0.88 in a report on Friday, March 24th. HC Wainwright reiterated a “buy” rating and issued a $5.00 price target on shares of Westport Fuel Systems in a report on Tuesday, March 28th.
Westport Fuel Systems Company Profile
Westport Fuel Systems Inc (Westport), formerly Westport Innovations Inc, is a Canada-based provider of low-emission engine and fuel system technologies utilizing gaseous fuels. It operates through the Westport Operations segment. The Westport Operations segment designs, manufactures and sells compressed natural gas, liquefied natural gas, and liquefied petroleum gas components and systems to original equipment manufacturers and to aftermarket customers.
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