Wells Fargo & Company MN Has $96.50 Million Stake in Wabco Holdings Inc. (WBC)
Wells Fargo & Company MN raised its stake in Wabco Holdings Inc. (NYSE:WBC) by 1.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 756,775 shares of the auto parts company’s stock after acquiring an additional 13,946 shares during the quarter. Wells Fargo & Company MN owned approximately 1.41% of Wabco Holdings worth $96,495,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its holdings in shares of Wabco Holdings by 1,567.3% in the second quarter. Franklin Resources Inc. now owns 236,590 shares of the auto parts company’s stock worth $30,168,000 after acquiring an additional 222,400 shares during the last quarter. CIBC World Markets Inc. acquired a new position in shares of Wabco Holdings in the second quarter worth $396,000. Engineers Gate Manager LP acquired a new position in shares of Wabco Holdings in the second quarter worth $599,000. Tredje AP fonden raised its holdings in shares of Wabco Holdings by 32.3% in the second quarter. Tredje AP fonden now owns 2,500 shares of the auto parts company’s stock worth $319,000 after acquiring an additional 610 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Wabco Holdings by 2.9% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,590,262 shares of the auto parts company’s stock worth $202,774,000 after acquiring an additional 44,578 shares during the last quarter. 97.54% of the stock is owned by institutional investors.
WBC has been the subject of a number of analyst reports. Royal Bank Of Canada reissued a “buy” rating and issued a $127.00 price target on shares of Wabco Holdings in a report on Friday, June 2nd. BidaskClub cut Wabco Holdings from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 15th. BMO Capital Markets reissued a “hold” rating and issued a $115.00 price target on shares of Wabco Holdings in a report on Friday, July 7th. Zacks Investment Research cut Wabco Holdings from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $147.00 price target on shares of Wabco Holdings in a report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $141.08.
Wabco Holdings Inc. (WBC) opened at 142.27 on Wednesday. The company has a 50-day moving average price of $139.09 and a 200-day moving average price of $124.92. The stock has a market cap of $7.63 billion, a P/E ratio of 23.73 and a beta of 1.64. Wabco Holdings Inc. has a one year low of $96.10 and a one year high of $144.98.
Wabco Holdings (NYSE:WBC) last issued its quarterly earnings results on Thursday, July 20th. The auto parts company reported $1.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.54 by $0.15. The company had revenue of $795.00 million for the quarter, compared to the consensus estimate of $759.33 million. Wabco Holdings had a return on equity of 40.21% and a net margin of 11.23%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the business posted $1.43 earnings per share. On average, analysts anticipate that Wabco Holdings Inc. will post $6.27 earnings per share for the current year.
In other news, Director Juergen Gromer sold 7,127 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $138.00, for a total value of $983,526.00. Following the sale, the director now directly owns 969 shares of the company’s stock, valued at $133,722. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director G Peter Daloia sold 3,626 shares of the firm’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $139.78, for a total value of $506,842.28. Following the completion of the sale, the director now directly owns 4,316 shares in the company, valued at $603,290.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,054 shares of company stock worth $1,952,903. 0.79% of the stock is currently owned by company insiders.
About Wabco Holdings
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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