Northwest Bancshares Inc. Buys Shares of 1,770 WABCO Holdings Inc. (WBC)

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Northwest Bancshares Inc. bought a new position in WABCO Holdings Inc. (NYSE:WBC) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,770 shares of the auto parts company’s stock, valued at approximately $233,000.

Other hedge funds also recently added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of WABCO by 130.9% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 38,233 shares of the auto parts company’s stock valued at $4,104,000 after purchasing an additional 21,674 shares in the last quarter. Man Group plc raised its holdings in shares of WABCO by 374.9% during the 3rd quarter. Man Group plc now owns 53,668 shares of the auto parts company’s stock valued at $6,330,000 after purchasing an additional 42,366 shares in the last quarter. First Manhattan Co. raised its holdings in shares of WABCO by 37.3% during the 4th quarter. First Manhattan Co. now owns 1,394,914 shares of the auto parts company’s stock valued at $149,730,000 after purchasing an additional 378,995 shares in the last quarter. Daiwa SB Investments Ltd. raised its holdings in shares of WABCO by 9.0% during the 4th quarter. Daiwa SB Investments Ltd. now owns 6,510 shares of the auto parts company’s stock valued at $699,000 after purchasing an additional 540 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of WABCO by 155.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 713,588 shares of the auto parts company’s stock valued at $84,161,000 after purchasing an additional 434,552 shares in the last quarter.

A number of research firms have recently weighed in on WBC. Citigroup downgraded shares of WABCO from a “buy” rating to a “neutral” rating and cut their price target for the company from $155.00 to $136.50 in a report on Friday, March 29th. JPMorgan Chase & Co. downgraded shares of WABCO from a “neutral” rating to an “underweight” rating and cut their price target for the company from $115.00 to $98.00 in a report on Thursday, January 10th. ValuEngine upgraded shares of WABCO from a “sell” rating to a “hold” rating in a report on Thursday, February 28th. Vertical Research lowered shares of WABCO from a “buy” rating to a “hold” rating in a research note on Monday, January 7th. Finally, Royal Bank of Canada lowered shares of WABCO from an “outperform” rating to a “sector perform” rating and raised their target price for the company from $136.00 to $136.50 in a research note on Friday, March 29th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $134.20.

In other news, insider Nicolas Bardot sold 1,145 shares of the firm’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $120.93, for a total transaction of $138,464.85. Following the completion of the transaction, the insider now directly owns 4,546 shares of the company’s stock, valued at approximately $549,747.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.48% of the stock is currently owned by company insiders.

NYSE:WBC traded down $0.24 during midday trading on Wednesday, reaching $133.31. The stock had a trading volume of 556,102 shares, compared to its average volume of 885,795. WABCO Holdings Inc. has a 1-year low of $98.90 and a 1-year high of $146.68. The company has a current ratio of 3.01, a quick ratio of 2.48 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $6.85 billion, a PE ratio of 16.94, a PEG ratio of 1.14 and a beta of 1.61.

WABCO (NYSE:WBC) last posted its earnings results on Friday, February 15th. The auto parts company reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.14. WABCO had a net margin of 10.29% and a return on equity of 32.91%. The business had revenue of $911.60 million for the quarter, compared to analyst estimates of $963.33 million. During the same period last year, the business posted $2.00 EPS. WABCO’s revenue was down 2.4% compared to the same quarter last year. As a group, analysts anticipate that WABCO Holdings Inc. will post 7.8 EPS for the current fiscal year.

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About WABCO

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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Institutional Ownership by Quarter for WABCO (NYSE:WBC)

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