Vanguard Group Inc. Raises Holdings in Whirlpool Corporation (WHR)
Vanguard Group Inc. grew its position in Whirlpool Corporation (NYSE:WHR) by 0.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,314,502 shares of the company’s stock after buying an additional 23,724 shares during the quarter. Vanguard Group Inc. owned 10.02% of Whirlpool Corporation worth $1,401,605,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Dupont Capital Management Corp purchased a new stake in shares of Whirlpool Corporation in the 2nd quarter worth $100,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Whirlpool Corporation by 26.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 644 shares of the company’s stock worth $123,000 after buying an additional 135 shares during the period. Global X Management Co. LLC lifted its holdings in shares of Whirlpool Corporation by 33.1% in the 1st quarter. Global X Management Co. LLC now owns 989 shares of the company’s stock worth $169,000 after buying an additional 246 shares during the period. IBM Retirement Fund purchased a new stake in shares of Whirlpool Corporation in the 2nd quarter worth $205,000. Finally, Tokio Marine Asset Management Co. Ltd. purchased a new stake in shares of Whirlpool Corporation in the 2nd quarter worth $206,000. Institutional investors and hedge funds own 91.47% of the company’s stock.
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Shares of Whirlpool Corporation (WHR) opened at 175.23 on Monday. The company’s 50 day moving average price is $172.40 and its 200-day moving average price is $179.94. Whirlpool Corporation has a 52 week low of $145.91 and a 52 week high of $202.99. The stock has a market capitalization of $12.79 billion, a PE ratio of 17.54 and a beta of 1.77.
Whirlpool Corporation (NYSE:WHR) last issued its quarterly earnings data on Wednesday, July 26th. The company reported $3.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.54 by ($0.19). The firm had revenue of $5.35 billion during the quarter, compared to analyst estimates of $5.35 billion. Whirlpool Corporation had a net margin of 3.61% and a return on equity of 18.17%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.50 earnings per share. Equities research analysts predict that Whirlpool Corporation will post $14.63 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 25th were issued a $1.10 dividend. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $4.40 dividend on an annualized basis and a yield of 2.51%. Whirlpool Corporation’s dividend payout ratio (DPR) is presently 44.04%.
Whirlpool Corporation declared that its board has initiated a share buyback plan on Wednesday, July 26th that authorizes the company to repurchase $2.35 billion in shares. This repurchase authorization authorizes the company to repurchase up to 16.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
Several equities research analysts have weighed in on the company. BidaskClub cut Whirlpool Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Royal Bank Of Canada reiterated a “top pick” rating and issued a $216.00 target price (down from $226.00) on shares of Whirlpool Corporation in a report on Tuesday, June 20th. Zacks Investment Research cut Whirlpool Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. ValuEngine cut Whirlpool Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Credit Suisse Group assumed coverage on Whirlpool Corporation in a report on Thursday, June 22nd. They issued a “neutral” rating and a $208.00 target price for the company. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $194.71.
In related news, Director William D. Perez bought 1,000 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was purchased at an average cost of $176.93 per share, for a total transaction of $176,930.00. Following the completion of the acquisition, the director now owns 7,239 shares in the company, valued at approximately $1,280,796.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.69% of the company’s stock.
Whirlpool Corporation 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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