Voloridge Investment Management LLC Acquires New Position in Welbilt, Inc (WBT)
Voloridge Investment Management LLC acquired a new position in Welbilt, Inc (NYSE:WBT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 89,609 shares of the industrial products company’s stock, valued at approximately $996,000. Voloridge Investment Management LLC owned approximately 0.06% of Welbilt as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also bought and sold shares of WBT. Cutler Group LP acquired a new position in Welbilt in the fourth quarter worth $55,000. Nisa Investment Advisors LLC boosted its stake in Welbilt by 72.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 10,500 shares of the industrial products company’s stock worth $117,000 after purchasing an additional 4,400 shares in the last quarter. Virtu Financial LLC acquired a new position in Welbilt in the fourth quarter worth $190,000. Fox Run Management L.L.C. acquired a new position in Welbilt in the fourth quarter worth $214,000. Finally, KBC Group NV boosted its stake in Welbilt by 34.0% in the fourth quarter. KBC Group NV now owns 23,488 shares of the industrial products company’s stock worth $261,000 after purchasing an additional 5,956 shares in the last quarter. 96.38% of the stock is currently owned by institutional investors.
A number of research firms have commented on WBT. William Blair reissued a “buy” rating on shares of Welbilt in a research note on Friday, January 11th. ValuEngine downgraded Welbilt from a “sell” rating to a “strong sell” rating in a research report on Wednesday, January 2nd. Longbow Research set a $16.00 target price on Welbilt and gave the stock a “buy” rating in a research report on Monday, January 14th. Robert W. Baird set a $18.00 target price on Welbilt and gave the stock a “buy” rating in a research report on Wednesday, February 20th. Finally, Barclays restated a “buy” rating and set a $19.00 target price on shares of Welbilt in a research report on Wednesday, February 20th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Welbilt currently has a consensus rating of “Buy” and a consensus price target of $20.63.
Welbilt (NYSE:WBT) last released its earnings results on Tuesday, February 19th. The industrial products company reported $0.18 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.18. The company had revenue of $406.10 million during the quarter, compared to the consensus estimate of $391.96 million. Welbilt had a return on equity of 71.21% and a net margin of 4.76%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.26 earnings per share. On average, equities research analysts predict that Welbilt, Inc will post 0.79 earnings per share for the current fiscal year.
In related news, EVP Richard N. Caron sold 13,000 shares of the company’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $16.12, for a total value of $209,560.00. Following the completion of the sale, the executive vice president now owns 53,525 shares in the company, valued at $862,823. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Josef Matosevic sold 10,301 shares of the company’s stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $16.06, for a total value of $165,434.06. The disclosure for this sale can be found here. Insiders sold 29,660 shares of company stock valued at $477,120 in the last quarter. 0.37% of the stock is currently owned by corporate insiders.
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Welbilt Company 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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