Kaizen Advisory LLC lowered its position in WABCO Holdings Inc. (NYSE:WBC) by 16.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,958 shares of the auto parts company’s stock after selling 1,364 shares during the period. Kaizen Advisory LLC’s holdings in WABCO were worth $747,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of WBC. FMR LLC lifted its position in WABCO by 61.6% during the third quarter. FMR LLC now owns 3,439,879 shares of the auto parts company’s stock valued at $405,699,000 after purchasing an additional 1,311,521 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in WABCO by 2.6% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,888,228 shares of the auto parts company’s stock valued at $310,023,000 after purchasing an additional 72,938 shares in the last quarter. BlackRock Inc. lifted its position in WABCO by 1.1% during the third quarter. BlackRock Inc. now owns 2,682,484 shares of the auto parts company’s stock valued at $316,372,000 after purchasing an additional 28,869 shares in the last quarter. First Manhattan Co. lifted its position in WABCO by 37.3% during the fourth quarter. First Manhattan Co. now owns 1,394,914 shares of the auto parts company’s stock valued at $149,730,000 after purchasing an additional 378,995 shares in the last quarter. Finally, Boston Partners lifted its position in WABCO by 2.7% during the fourth quarter. Boston Partners now owns 1,103,674 shares of the auto parts company’s stock valued at $118,469,000 after purchasing an additional 28,781 shares in the last quarter.
In other news, insider Nicolas Bardot sold 1,145 shares of WABCO stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $120.93, for a total value of $138,464.85. Following the sale, the insider now directly owns 4,546 shares of the company’s stock, valued at $549,747.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.48% of the company’s stock.
WABCO (NYSE:WBC) last issued its earnings results on Friday, February 15th. The auto parts company reported $2.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.99 by $0.14. WABCO had a return on equity of 32.91% and a net margin of 10.29%. The firm had revenue of $911.60 million for the quarter, compared to analysts’ expectations of $963.33 million. During the same period in the previous year, the firm posted $2.00 earnings per share. The business’s revenue was down 2.4% compared to the same quarter last year. As a group, research analysts predict that WABCO Holdings Inc. will post 7.8 EPS for the current fiscal year.
WABCO announced that its Board of Directors has initiated a stock buyback program on Monday, December 10th that permits the company to repurchase $600.00 million in outstanding shares. This repurchase authorization permits the auto parts company to repurchase up to 10.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
Several equities analysts have recently commented on the company. JPMorgan Chase & Co. upgraded WABCO from an “underweight” rating to a “neutral” rating and set a $121.00 price objective on the stock in a research report on Thursday, February 28th. Stephens set a $152.00 price objective on WABCO and gave the company an “overweight” rating in a research report on Thursday, February 28th. They noted that the move was a valuation call. Morgan Stanley boosted their price objective on WABCO from $116.00 to $137.00 and gave the company an “equal weight” rating in a research report on Monday, March 4th. KeyCorp boosted their price objective on WABCO from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, February 28th. Finally, ValuEngine upgraded WABCO from a “sell” rating to a “hold” rating in a research report on Thursday, February 28th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $136.47.
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WABCO Holdings Inc, together with its subsidiaries, supplies electronic, mechanical, electro-mechanical, and aerodynamic products worldwide. The company engineers, develops, manufactures, and sells braking, stability, suspension, steering, transmission automation, and air management systems primarily for commercial vehicles.
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