Brandywine Global Investment Management LLC bought a new position in WABCO Holdings Inc. (NYSE:WBC) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 33,490 shares of the auto parts company’s stock, valued at approximately $3,595,000.
Other institutional investors also recently made changes to their positions in the company. Man Group plc raised its holdings in WABCO by 374.9% during the third quarter. Man Group plc now owns 53,668 shares of the auto parts company’s stock valued at $6,330,000 after acquiring an additional 42,366 shares during the period. First Manhattan Co. increased its holdings in shares of WABCO by 37.3% in the fourth quarter. First Manhattan Co. now owns 1,394,914 shares of the auto parts company’s stock worth $149,730,000 after purchasing an additional 378,995 shares during the last quarter. United Services Automobile Association increased its holdings in shares of WABCO by 727.6% in the third quarter. United Services Automobile Association now owns 69,134 shares of the auto parts company’s stock worth $8,154,000 after purchasing an additional 60,780 shares during the last quarter. Daiwa SB Investments Ltd. increased its holdings in shares of WABCO by 9.0% in the fourth quarter. Daiwa SB Investments Ltd. now owns 6,510 shares of the auto parts company’s stock worth $699,000 after purchasing an additional 540 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of WABCO by 155.7% in the third quarter. Bank of New York Mellon Corp now owns 713,588 shares of the auto parts company’s stock worth $84,161,000 after purchasing an additional 434,552 shares during the last quarter. 99.52% of the stock is currently owned by institutional investors.
In related 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 completion of the transaction, the insider now owns 4,546 shares in the company, valued at $549,747.78. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.48% of the company’s stock.
Several brokerages have recently issued reports on WBC. Morgan Stanley lifted their target price on WABCO from $116.00 to $137.00 and gave the stock an “equal weight” rating in a report on Monday, March 4th. JPMorgan Chase & Co. raised WABCO from an “underweight” rating to a “neutral” rating and set a $121.00 target price on the stock in a report on Thursday, February 28th. Stephens set a $152.00 target price on WABCO and gave the stock an “overweight” rating in a report on Thursday, February 28th. They noted that the move was a valuation call. KeyCorp lifted their target price on WABCO from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, February 28th. Finally, ValuEngine raised WABCO from a “sell” rating to a “hold” rating in a report on Thursday, February 28th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $136.47.
WBC opened at $143.36 on Friday. The stock has a market capitalization of $7.42 billion, a P/E ratio of 18.22, a P/E/G ratio of 1.24 and a beta of 1.62. WABCO Holdings Inc. has a 12 month low of $98.90 and a 12 month high of $146.50. The company has a quick ratio of 2.48, a current ratio of 3.01 and a debt-to-equity ratio of 0.67.
WABCO (NYSE:WBC) last released its quarterly earnings results on Friday, February 15th. The auto parts company reported $2.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.99 by $0.14. The company had revenue of $911.60 million during the quarter, compared to analyst estimates of $963.33 million. WABCO had a return on equity of 32.91% and a net margin of 10.29%. The firm’s revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the business posted $2.00 earnings per share. Analysts anticipate that WABCO Holdings Inc. will post 7.8 earnings per share for the current year.
WABCO declared that its Board of Directors has initiated a stock buyback plan on Monday, December 10th that allows the company to buyback $600.00 million in shares. This buyback authorization allows the auto parts company to reacquire up to 10.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
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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