The First Trust Advisors LP Acquires New Stake in Wabco Holdings Inc. (WBC)

The First Trust Advisors LP Acquires New Stake in Wabco Holdings Inc. (WBC)

First Trust Advisors LP purchased a new stake in shares of Wabco Holdings Inc. (NYSE:WBC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,173 shares of the company’s stock, valued at approximately $382,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. TD Asset Management Inc. raised its stake in Wabco Holdings by 1.0% in the second quarter. TD Asset Management Inc. now owns 52,200 shares of the company’s stock valued at $4,780,000 after buying an additional 500 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in Wabco Holdings by 12.2% in the second quarter. State Board of Administration of Florida Retirement System now owns 80,285 shares of the company’s stock valued at $7,352,000 after buying an additional 8,749 shares during the last quarter. Calvert Investment Management Inc. raised its stake in Wabco Holdings by 2.5% in the second quarter. Calvert Investment Management Inc. now owns 4,258 shares of the company’s stock valued at $390,000 after buying an additional 103 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in Wabco Holdings by 31.5% in the second quarter. DekaBank Deutsche Girozentrale now owns 7,768 shares of the company’s stock valued at $704,000 after buying an additional 1,860 shares during the last quarter. Finally, Stanley Laman Group Ltd. bought a new stake in Wabco Holdings during the second quarter valued at $895,000. Institutional investors own 95.33% of the company’s stock.

Shares of Wabco Holdings Inc. (NYSE:WBC) traded up 0.16% during midday trading on Friday, reaching $107.96. The company’s stock had a trading volume of 76,116 shares. The company has a market cap of $6.02 billion, a P/E ratio of 31.06 and a beta of 2.04. The stock’s 50-day moving average price is $108.57 and its 200-day moving average price is $104.46. Wabco Holdings Inc. has a 12-month low of $81.65 and a 12-month high of $115.80.

Wabco Holdings (NYSE:WBC) last announced its quarterly earnings results on Wednesday, July 20th. The company reported $1.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.03. Wabco Holdings had a return on equity of 39.45% and a net margin of 7.28%. The business had revenue of $732.20 million for the quarter, compared to analyst estimates of $706.60 million. During the same quarter in the prior year, the company posted $1.40 EPS. The company’s quarterly revenue was up 10.8% on a year-over-year basis. On average, analysts expect that Wabco Holdings Inc. will post $5.73 EPS for the current fiscal year.

A number of analysts have weighed in on the company. JPMorgan Chase & Co. reduced their target price on Wabco Holdings from $109.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, August 15th. Zacks Investment Research lowered Wabco Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, June 29th. Robert W. Baird reiterated a “buy” rating on shares of Wabco Holdings in a research note on Tuesday, June 28th. Piper Jaffray Cos. lowered Wabco Holdings from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $124.00 to $94.00 in a research note on Tuesday, June 28th. Finally, Deutsche Bank AG increased their target price on Wabco Holdings from $113.00 to $114.00 and gave the stock a “hold” rating in a research note on Wednesday. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Wabco Holdings currently has a consensus rating of “Buy” and an average price target of $117.92.

In related news, insider Nick Rens sold 600 shares of the business’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $101.19, for a total value of $60,714.00. Following the sale, the insider now owns 9,665 shares in the company, valued at approximately $978,001.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.79% of the stock is owned by insiders.

Wabco Holdings Company Profile

WABCO Holdings Inc is a supplier of electronic, mechanical, electro-mechanical and aerodynamic products for various manufacturers. The Company engineers, develops, manufactures and sells systems controlling braking, stability, suspension, transmission automation, as well transmission automation and air management systems for commercial vehicles.

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