State of New Jersey Common Pension Fund D Continues to Hold Position in Whirlpool Corporation (NYSE:WHR)
State of New Jersey Common Pension Fund D continued to hold its stake in shares of Whirlpool Corporation (NYSE:WHR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,750 shares of the company’s stock at the end of the second quarter. State of New Jersey Common Pension Fund D’s holdings in Whirlpool Corporation were worth $9,150,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Macquarie Group Ltd. boosted its position in Whirlpool Corporation by 72.0% in the fourth quarter. Macquarie Group Ltd. now owns 4,300 shares of the company’s stock valued at $782,000 after buying an additional 1,800 shares during the period. Chevy Chase Trust Holdings Inc. boosted its position in Whirlpool Corporation by 2.6% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 65,116 shares of the company’s stock valued at $11,157,000 after buying an additional 1,631 shares during the period. Gulf International Bank UK Ltd boosted its position in Whirlpool Corporation by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 23,001 shares of the company’s stock valued at $3,940,000 after buying an additional 270 shares during the period. National Pension Service boosted its position in Whirlpool Corporation by 11.0% in the first quarter. National Pension Service now owns 73,548 shares of the company’s stock valued at $12,514,000 after buying an additional 7,307 shares during the period. Finally, Bank of Montreal Can boosted its position in Whirlpool Corporation by 6.9% in the first quarter. Bank of Montreal Can now owns 98,024 shares of the company’s stock valued at $16,795,000 after buying an additional 6,347 shares during the period. 94.84% of the stock is owned by institutional investors.
Whirlpool Corporation (NYSE:WHR) opened at 171.74 on Friday. Whirlpool Corporation has a 52 week low of $145.91 and a 52 week high of $202.99. The company has a market capitalization of $12.53 billion, a PE ratio of 17.19 and a beta of 1.79. The company’s 50-day moving average price is $187.02 and its 200 day moving average price is $181.07.
Whirlpool Corporation (NYSE:WHR) last issued its quarterly earnings results on Wednesday, July 26th. The company reported $3.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.54 by $0.19. The business had revenue of $5.35 billion during the quarter, compared to the consensus estimate of $5.35 billion. Whirlpool Corporation had a return on equity of 18.17% and a net margin of 3.61%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned $3.50 earnings per share. On average, equities research analysts anticipate that Whirlpool Corporation will post $14.63 EPS for the current year.
Whirlpool Corporation declared that its Board of Directors has approved a stock buyback program on Wednesday, July 26th that allows the company to repurchase $2.35 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 16.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
Several research firms have recently commented on WHR. Royal Bank Of Canada reiterated a “top pick” rating and set a $216.00 target price (down from $226.00) on shares of Whirlpool Corporation in a research note on Tuesday, June 20th. Credit Suisse Group began coverage on Whirlpool Corporation in a research note on Thursday, June 22nd. They set a “neutral” rating and a $208.00 target price for the company. BidaskClub cut Whirlpool Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Finally, Zacks Investment Research cut Whirlpool Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Six research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $194.71.
In other Whirlpool Corporation news, Director William D. Perez purchased 1,000 shares of the company’s stock in a transaction on Monday, July 31st. The shares were bought at an average cost of $176.93 per share, with a total value of $176,930.00. Following the transaction, the director now directly owns 7,239 shares in the company, valued at approximately $1,280,796.27. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.69% of the company’s stock.
Whirlpool Corporation Company Profile
Whirlpool Corporation is a manufacturer and marketer of home appliances. The Company’s segments include North America; Europe, Middle East and Africa (EMEA); Latin America, and Asia. In North America, the Company markets and distributes home appliances and small domestic appliances under a range of brand names.
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