Voya Investment Management LLC lowered its position in WABCO Holdings Inc. (NYSE:WBC) by 35.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 277,214 shares of the auto parts company’s stock after selling 155,509 shares during the quarter. Voya Investment Management LLC owned 0.52% of WABCO worth $32,440,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the business. Fort L.P. bought a new stake in shares of WABCO in the 2nd quarter worth approximately $118,000. Raymond James & Associates lifted its position in shares of WABCO by 31.0% in the 2nd quarter. Raymond James & Associates now owns 162,485 shares of the auto parts company’s stock worth $19,014,000 after acquiring an additional 38,411 shares during the period. Renaissance Technologies LLC lifted its position in shares of WABCO by 126.7% in the 2nd quarter. Renaissance Technologies LLC now owns 366,500 shares of the auto parts company’s stock worth $42,888,000 after acquiring an additional 204,800 shares during the period. Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of WABCO in the 2nd quarter worth approximately $7,969,000. Finally, EdgePoint Investment Group Inc. lifted its position in shares of WABCO by 8.6% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 3,490,757 shares of the auto parts company’s stock worth $408,488,000 after acquiring an additional 277,145 shares during the period.
Shares of NYSE:WBC traded down $1.27 during midday trading on Friday, hitting $115.77. The company had a trading volume of 669,246 shares, compared to its average volume of 419,995. WABCO Holdings Inc. has a 12 month low of $110.50 and a 12 month high of $162.20. The company has a quick ratio of 2.07, a current ratio of 2.48 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $6.24 billion, a P/E ratio of 16.88, a P/E/G ratio of 1.05 and a beta of 1.82.
WABCO (NYSE:WBC) last posted its quarterly earnings results on Thursday, July 19th. The auto parts company reported $2.00 earnings per share (EPS) 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 analyst estimates of $989.16 million. WABCO had a return on equity of 34.37% and a net margin of 11.77%. The firm’s revenue was up 25.9% on a year-over-year basis. During the same period last year, the company earned $1.69 EPS. As a group, equities research analysts expect that WABCO Holdings Inc. will post 7.5 earnings per share for the current year.
A number of brokerages have recently issued reports on WBC. Piper Jaffray Companies set a $153.00 target price on WABCO and gave the stock a “buy” rating in a report on Wednesday, September 19th. BMO Capital Markets reissued a “hold” rating and issued a $130.00 target price (down from $135.00) on shares of WABCO in a report on Friday, September 14th. Royal Bank of Canada reissued a “buy” rating and issued a $160.00 target price on shares of WABCO in a report on Friday, July 20th. Robert W. Baird cut WABCO from an “outperform” rating to a “neutral” rating in a report on Wednesday, September 12th. Finally, ValuEngine cut WABCO from a “sell” rating to a “strong sell” rating in a report on Monday, July 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company’s stock. WABCO has a consensus rating of “Buy” and a consensus price target of $148.83.
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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