Sumitomo Mitsui Trust Holdings Inc. lessened its holdings in Wabco Holdings Inc. (NYSE:WBC) by 3.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 141,218 shares of the auto parts company’s stock after selling 5,357 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.26% of Wabco Holdings worth $18,007,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Trexquant Investment LP purchased a new stake in Wabco Holdings in the second quarter worth about $204,000. Cortina Asset Management LLC purchased a new stake in Wabco Holdings in the first quarter worth about $200,000. Denver Investment Advisors LLC purchased a new stake in Wabco Holdings in the first quarter worth about $205,000. RGT Capital Management Ltd. purchased a new stake in Wabco Holdings in the first quarter worth about $206,000. Finally, Bancorpsouth Inc. purchased a new stake in Wabco Holdings in the first quarter worth about $219,000. Institutional investors and hedge funds own 97.54% of the company’s stock.
Shares of Wabco Holdings Inc. (NYSE:WBC) opened at 142.24 on Friday. Wabco Holdings Inc. has a one year low of $96.10 and a one year high of $144.98. The company has a 50-day moving average of $139.53 and a 200 day moving average of $125.58. The stock has a market cap of $7.63 billion, a PE ratio of 23.73 and a beta of 1.64.
Wabco Holdings (NYSE:WBC) last released its earnings results on Thursday, July 20th. The auto parts company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.15. The company had revenue of $795.00 million for the quarter, compared to the consensus estimate of $759.33 million. Wabco Holdings had a net margin of 11.23% and a return on equity of 40.21%. Wabco Holdings’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.43 EPS. On average, analysts predict that Wabco Holdings Inc. will post $6.27 earnings per share for the current year.
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In other Wabco Holdings news, Director Juergen Gromer sold 7,127 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $138.00, for a total transaction of $983,526.00. Following the sale, the director now owns 969 shares of the company’s stock, valued at approximately $133,722. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director G Peter Daloia sold 3,626 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $139.78, for a total transaction of $506,842.28. Following the sale, the director now directly owns 4,316 shares in the company, valued at approximately $603,290.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,054 shares of company stock worth $1,952,903. 0.79% of the stock is owned by insiders.
A number of brokerages have weighed in on WBC. Zacks Investment Research upgraded shares of Wabco Holdings from a “hold” rating to a “buy” rating and set a $159.00 price objective on the stock in a report on Tuesday, September 12th. KeyCorp restated a “buy” rating and issued a $156.00 price objective on shares of Wabco Holdings in a report on Thursday, September 7th. Bank of America Corporation restated a “buy” rating and issued a $150.00 price objective on shares of Wabco Holdings in a report on Saturday, August 19th. BidaskClub cut shares of Wabco Holdings from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Finally, Buckingham Research assumed coverage on shares of Wabco Holdings in a report on Tuesday, September 5th. They set a “neutral” rating and a $142.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $141.08.
About Wabco Holdings
WABCO Holdings Inc is a supplier of electronic, mechanical, electro-mechanical and aerodynamic products for various manufacturers of commercial trucks, buses and trailers, as well as passenger cars. The Company engineers, develops, manufactures and sells braking, stability, suspension and transmission automation and air management systems primarily for commercial vehicles.
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