Shell Asset Management Co. reduced its stake in Wabco Holdings Inc. (NYSE:WBC) by 8.5% during the second quarter, Holdings Channel reports. The firm owned 3,003 shares of the company’s stock after selling 278 shares during the period. Shell Asset Management Co.’s holdings in Wabco Holdings were worth $275,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Nordea Investment Management AB raised its position in shares of Wabco Holdings by 6.7% in the second quarter. Nordea Investment Management AB now owns 1,539 shares of the company’s stock valued at $141,000 after buying an additional 97 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Wabco Holdings by 92.3% in the second quarter. BNP Paribas Arbitrage SA now owns 1,602 shares of the company’s stock valued at $147,000 after buying an additional 769 shares during the period. LS Investment Advisors LLC raised its position in shares of Wabco Holdings by 8.5% in the second quarter. LS Investment Advisors LLC now owns 2,015 shares of the company’s stock valued at $185,000 after buying an additional 158 shares during the period. Schonfeld Strategic Advisors LLC bought a new position in shares of Wabco Holdings during the first quarter valued at approximately $204,000. Finally, BlueMountain Capital Management LLC raised its position in shares of Wabco Holdings by 56.9% in the first quarter. BlueMountain Capital Management LLC now owns 2,118 shares of the company’s stock valued at $226,000 after buying an additional 768 shares during the period. Institutional investors and hedge funds own 95.33% of the company’s stock.
Shares of Wabco Holdings Inc. (NYSE:WBC) traded down 1.53% during mid-day trading on Wednesday, hitting $108.77. 679,466 shares of the stock were exchanged. The stock has a market cap of $6.07 billion, a PE ratio of 31.29 and a beta of 2.04. Wabco Holdings Inc. has a 12 month low of $81.66 and a 12 month high of $115.80. The stock’s 50 day moving average is $108.49 and its 200-day moving average is $104.40.
Wabco Holdings (NYSE:WBC) last released its quarterly earnings data on Wednesday, July 20th. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.03. The firm earned $732.20 million during the quarter, compared to the consensus estimate of $706.60 million. Wabco Holdings had a return on equity of 39.45% and a net margin of 7.28%. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.40 earnings per share. On average, analysts anticipate that Wabco Holdings Inc. will post $5.73 EPS for the current year.
Several brokerages have commented on WBC. JPMorgan Chase & Co. decreased their price objective on shares of Wabco Holdings from $109.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, August 15th. Piper Jaffray Cos. reaffirmed a “neutral” rating and issued a $96.00 target price (up from $94.00) on shares of Wabco Holdings in a research report on Sunday, July 24th. Robert W. Baird reaffirmed a “buy” rating on shares of Wabco Holdings in a research report on Tuesday, June 28th. Deutsche Bank AG started coverage on shares of Wabco Holdings in a research report on Tuesday, September 6th. They issued a “hold” rating and a $113.00 target price on the stock. Finally, Avondale Partners reaffirmed a “market outperform” rating on shares of Wabco Holdings in a research report on Monday. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $117.92.
In related news, insider Nick Rens sold 600 shares of Wabco Holdings stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $101.19, for a total value of $60,714.00. Following the completion of the sale, the insider now directly owns 9,665 shares in the company, valued at $978,001.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.79% of the stock is owned by corporate insiders.
About Wabco Holdings
WABCO Holdings Inc is a supplier of electronic, mechanical, electro-mechanical and aerodynamic products for various manufacturers. The Company engineers, develops, manufactures and sells systems controlling braking, stability, suspension, transmission automation, as well transmission automation and air management systems for commercial vehicles.
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