Bank of America Corp DE lessened its stake in WABCO Holdings Inc. (NYSE:WBC) by 6.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 568,498 shares of the auto parts company’s stock after selling 37,672 shares during the quarter. Bank of America Corp DE owned 1.07% of WABCO worth $66,526,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. Gideon Capital Advisors Inc. increased its stake in shares of WABCO by 67.9% in the 2nd quarter. Gideon Capital Advisors Inc. now owns 4,321 shares of the auto parts company’s stock valued at $506,000 after purchasing an additional 1,748 shares in the last quarter. Swiss National Bank increased its stake in shares of WABCO by 9.0% in the 2nd quarter. Swiss National Bank now owns 177,600 shares of the auto parts company’s stock valued at $20,783,000 after purchasing an additional 14,700 shares in the last quarter. Renaissance Technologies LLC increased its stake in WABCO by 126.7% during the 2nd quarter. Renaissance Technologies LLC now owns 366,500 shares of the auto parts company’s stock worth $42,888,000 after buying an additional 204,800 shares in the last quarter. Wafra Inc. purchased a new stake in WABCO during the 2nd quarter worth approximately $6,990,000. Finally, Hermes Investment Management Ltd. increased its stake in WABCO by 2.2% during the 2nd quarter. Hermes Investment Management Ltd. now owns 199,788 shares of the auto parts company’s stock worth $23,379,000 after buying an additional 4,244 shares in the last quarter.
Several equities research analysts have commented on the company. Piper Jaffray Companies set a $153.00 price objective on WABCO and gave the stock a “buy” rating in a research note on Wednesday, September 19th. BMO Capital Markets reiterated a “hold” rating and set a $130.00 price objective (down from $135.00) on shares of WABCO in a research note on Friday, September 14th. Royal Bank of Canada reiterated a “buy” rating and set a $160.00 price objective on shares of WABCO in a research note on Friday, July 20th. Robert W. Baird lowered WABCO from an “outperform” rating to a “neutral” rating in a research note on Wednesday, September 12th. Finally, ValuEngine lowered WABCO from a “sell” rating to a “strong sell” rating in a research note on Monday, July 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $148.83.
Shares of WABCO stock traded down $1.31 on Friday, hitting $107.82. 866,399 shares of the company were exchanged, compared to its average volume of 425,831. The stock has a market cap of $6.24 billion, a P/E ratio of 15.72, a P/E/G ratio of 1.05 and a beta of 1.82. WABCO Holdings Inc. has a 1-year low of $106.27 and a 1-year high of $162.20. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.48 and a quick ratio of 2.07.
WABCO (NYSE:WBC) last issued its earnings results on Thursday, July 19th. The auto parts company reported $2.00 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.90 by $0.10. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $989.16 million. WABCO had a return on equity of 34.37% and a net margin of 11.77%. The business’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.69 EPS. As a group, research analysts expect that WABCO Holdings Inc. will post 7.5 EPS for the current fiscal year.
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, transmission automation, and air management systems primarily for commercial vehicles.
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