Eagle Asset Management Inc. lessened its holdings in Welbilt, Inc (NYSE:WBT) by 12.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,263,037 shares of the industrial products company’s stock after selling 185,801 shares during the quarter. Eagle Asset Management Inc. owned approximately 0.90% of Welbilt worth $26,372,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Fort L.P. acquired a new position in Welbilt in the second quarter worth $126,000. Cornerstone Wealth Management LLC acquired a new position in Welbilt in the second quarter worth $200,000. Diamond Hill Capital Management Inc. acquired a new position in Welbilt in the second quarter worth $210,000. Colony Group LLC acquired a new position in Welbilt in the second quarter worth $229,000. Finally, Quantum Capital Management acquired a new position in Welbilt in the second quarter worth $256,000. 92.76% of the stock is owned by hedge funds and other institutional investors.

WBT stock opened at $13.05 on Wednesday. The company has a current ratio of 1.41, a quick ratio of 0.80 and a debt-to-equity ratio of 10.00. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 16.95 and a beta of 1.23. Welbilt, Inc has a 1 year low of $12.75 and a 1 year high of $23.85.

Welbilt (NYSE:WBT) last posted its earnings results on Monday, November 5th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.03). The company had revenue of $412.90 million during the quarter, compared to the consensus estimate of $421.89 million. Welbilt had a net margin of 7.56% and a return on equity of 95.12%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.22 earnings per share. As a group, analysts predict that Welbilt, Inc will post 0.78 EPS for the current year.

A number of equities analysts have commented on WBT shares. Zacks Investment Research raised shares of Welbilt from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Thursday, July 26th. Citigroup decreased their price objective on shares of Welbilt from $24.00 to $23.00 and set a “neutral” rating for the company in a report on Wednesday, August 15th. Barclays set a $25.00 target price on Welbilt and gave the company a “buy” rating in a research note on Monday, August 20th. Robert W. Baird set a $19.00 target price on Welbilt and gave the company a “buy” rating in a research note on Monday, November 5th. Finally, KeyCorp cut their target price on Welbilt from $25.00 to $22.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $21.75.

In other Welbilt news, EVP Richard N. Caron sold 9,000 shares of the firm’s stock in a transaction on Thursday, September 6th. The stock was sold at an average price of $21.88, for a total value of $196,920.00. Following the sale, the executive vice president now directly owns 100 shares in the company, valued at $2,188. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.37% of the company’s stock.

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Welbilt Profile

Welbilt is a leading global supplier of commercial foodservice equipment. Their broad, award-winning hot- and cold-side product portfolio includes many brands, including Cleveland Range, Convotherm, Delfield, Frymaster, Garland, Kolpak, Lincoln, Manitowac, Merco, Merrychef, and Multiplex Beverage.

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Institutional Ownership by Quarter for Welbilt (NYSE:WBT)

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