American International Group Inc. purchased a new stake in shares of WABCO Holdings Inc. (NYSE:WBC) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 1,199 shares of the auto parts company’s stock, valued at approximately $172,000.
Other hedge funds have also made changes to their positions in the company. Cerebellum GP LLC acquired a new position in WABCO during the fourth quarter valued at approximately $129,000. Whittier Trust Co. of Nevada Inc. lifted its position in WABCO by 114.9% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 935 shares of the auto parts company’s stock valued at $134,000 after buying an additional 500 shares in the last quarter. Zions Bancorporation acquired a new position in WABCO during the third quarter valued at approximately $179,000. Brown Advisory Inc. acquired a new position in WABCO during the third quarter valued at approximately $202,000. Finally, Cadence Capital Management LLC acquired a new position in WABCO during the third quarter valued at approximately $207,000. 97.03% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have weighed in on WBC. Zacks Investment Research cut shares of WABCO from a “buy” rating to a “hold” rating in a research report on Sunday, January 21st. ValuEngine cut shares of WABCO from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. BMO Capital Markets reissued a “market perform” rating and set a $150.00 target price (down from $160.00) on shares of WABCO in a research report on Friday, February 23rd. Buckingham Research reissued a “neutral” rating and set a $152.00 target price (down from $156.00) on shares of WABCO in a research report on Tuesday, February 20th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $160.00 target price (down from $162.00) on shares of WABCO in a research report on Tuesday, February 20th. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. WABCO has an average rating of “Buy” and a consensus target price of $162.13.
WABCO (NYSE:WBC) last posted its quarterly earnings results on Friday, February 16th. The auto parts company reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.20. The firm had revenue of $934.00 million for the quarter, compared to analysts’ expectations of $900.52 million. WABCO had a net margin of 12.29% and a return on equity of 37.38%. The firm’s quarterly revenue was up 30.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.47 earnings per share. research analysts anticipate that WABCO Holdings Inc. will post 7.6 EPS for the current year.
In related news, insider Nicolas Bardot sold 834 shares of the company’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $136.88, for a total value of $114,157.92. Following the sale, the insider now directly owns 4,243 shares of the company’s stock, valued at $580,781.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.79% of the company’s stock.
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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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