Wedge Capital Management L L P NC Sells 45,791 Shares of Welbilt, Inc (NYSE:WBT)

Wedge Capital Management L L P NC lowered its stake in Welbilt, Inc (NYSE:WBT) by 4.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,045,236 shares of the industrial products company’s stock after selling 45,791 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.74% of Welbilt worth $17,455,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. CWM LLC lifted its holdings in shares of Welbilt by 131.2% in the second quarter. CWM LLC now owns 290,681 shares of the industrial products company’s stock worth $4,854,000 after acquiring an additional 164,940 shares during the last quarter. Tocqueville Asset Management L.P. lifted its holdings in shares of Welbilt by 14.7% in the second quarter. Tocqueville Asset Management L.P. now owns 54,008 shares of the industrial products company’s stock worth $902,000 after acquiring an additional 6,925 shares during the last quarter. Svenska Handelsbanken AB publ bought a new position in shares of Welbilt in the second quarter worth about $903,000. SG Americas Securities LLC lifted its holdings in shares of Welbilt by 13.1% in the second quarter. SG Americas Securities LLC now owns 26,431 shares of the industrial products company’s stock worth $441,000 after acquiring an additional 3,064 shares during the last quarter. Finally, Moody Aldrich Partners LLC lifted its holdings in shares of Welbilt by 60.4% in the second quarter. Moody Aldrich Partners LLC now owns 242,320 shares of the industrial products company’s stock worth $4,047,000 after acquiring an additional 91,240 shares during the last quarter. 98.85% of the stock is owned by hedge funds and other institutional investors.

WBT has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Welbilt from a “sell” rating to a “hold” rating in a report on Saturday, April 27th. Citigroup upgraded shares of Welbilt from a “neutral” rating to a “buy” rating and raised their price objective for the company from $17.00 to $19.00 in a report on Wednesday, July 10th. Finally, ValuEngine upgraded shares of Welbilt from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $19.67.



NYSE WBT traded down $0.42 during trading hours on Wednesday, reaching $15.49. The company’s stock had a trading volume of 348,323 shares, compared to its average volume of 1,317,182. The company’s fifty day simple moving average is $16.31. The firm has a market capitalization of $2.26 billion, a PE ratio of 19.85 and a beta of 1.66. Welbilt, Inc has a 52 week low of $10.66 and a 52 week high of $22.41. The company has a debt-to-equity ratio of 6.81, a quick ratio of 1.07 and a current ratio of 1.70.

Welbilt (NYSE:WBT) last issued its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.04. The business had revenue of $426.30 million during the quarter, compared to analyst estimates of $427.07 million. Welbilt had a net margin of 4.23% and a return on equity of 52.45%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the business earned $0.20 EPS. On average, sell-side analysts expect that Welbilt, Inc will post 0.73 earnings per share for the current year.

Welbilt Profile

Welbilt is a leading global supplier of commercial foodservice equipment. Their broad, award-winning hot- and cold-side product portfolio includes many brands, including Cleveland Range, Convotherm, Delfield, Frymaster, Garland, Kolpak, Lincoln, Manitowac, Merco, Merrychef, and Multiplex Beverage.

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Institutional Ownership by Quarter for Welbilt (NYSE:WBT)

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