Eaton Vance Management lowered its stake in WABCO Holdings Inc. (NYSE:WBC) by 97.9% during the second quarter, Holdings Channel reports. The fund owned 3,080 shares of the company’s stock after selling 143,469 shares during the period. Eaton Vance Management’s holdings in WABCO Holdings were worth $282,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of Montreal Can bought a new position in shares of WABCO Holdings during the second quarter valued at $22,661,000. Columbus Circle Investors bought a new position in shares of WABCO Holdings during the second quarter valued at $14,866,000. Moore Capital Management LP bought a new position in shares of WABCO Holdings during the first quarter valued at $13,130,000. Boston Partners raised its position in shares of WABCO Holdings by 16.1% in the second quarter. Boston Partners now owns 822,827 shares of the company’s stock valued at $75,347,000 after buying an additional 114,131 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of WABCO Holdings by 4.3% in the second quarter. American Century Companies Inc. now owns 2,352,715 shares of the company’s stock valued at $215,438,000 after buying an additional 97,055 shares during the last quarter. Institutional investors and hedge funds own 95.33% of the company’s stock.
WABCO Holdings Inc. (NYSE:WBC) traded down 0.37% during mid-day trading on Monday, hitting $113.11. 70,520 shares of the stock were exchanged. The company has a 50-day moving average price of $106.77 and a 200-day moving average price of $103.98. WABCO Holdings Inc. has a one year low of $81.66 and a one year high of $115.80. The company has a market cap of $6.31 billion, a P/E ratio of 32.54 and a beta of 2.04.
WABCO Holdings (NYSE:WBC) last announced its quarterly earnings results on Wednesday, July 20th. The company reported $1.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.03. The business earned $732.20 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.40 EPS. On average, analysts predict that WABCO Holdings Inc. will post $5.73 earnings per share for the current fiscal year.
WBC has been the topic of several recent analyst reports. Bank of America Corp. lowered shares of WABCO Holdings from a “buy” rating to a “neutral” rating in a report on Thursday, July 7th. Piper Jaffray Cos. lowered shares of WABCO Holdings from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $124.00 to $94.00 in a report on Tuesday, June 28th. Goldman Sachs Group Inc. lowered shares of WABCO Holdings from a “buy” rating to a “neutral” rating and cut their price target for the company from $135.00 to $105.00 in a report on Tuesday, June 28th. Zacks Investment Research lowered shares of WABCO Holdings from a “hold” rating to a “sell” rating in a report on Wednesday, June 29th. Finally, JPMorgan Chase & Co. cut their price target on shares of WABCO Holdings from $109.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, August 15th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $117.08.
In related news, insider Nick Rens sold 600 shares of the business’s stock in a transaction that occurred on 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 owns 9,665 shares of the company’s stock, valued at approximately $978,001.35. The sale was disclosed in a document filed with the SEC, which is available at this link. 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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