BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its stake in Wabco Holdings Inc. (NYSE:WBC) by 40.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,146 shares of the auto parts company’s stock after selling 36,736 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.10% of Wabco Holdings worth $7,032,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the company. Trexquant Investment LP bought a new stake in Wabco Holdings during the second quarter valued at about $204,000. Cortina Asset Management LLC bought a new stake in Wabco Holdings during the first quarter valued at about $200,000. Denver Investment Advisors LLC bought a new stake in Wabco Holdings during the first quarter valued at about $205,000. RGT Capital Management Ltd. bought a new stake in Wabco Holdings during the first quarter valued at about $206,000. Finally, Bancorpsouth Inc. bought a new stake in Wabco Holdings during the first quarter valued at about $219,000. Institutional investors and hedge funds own 96.35% of the company’s stock.
Shares of Wabco Holdings Inc. (NYSE:WBC) opened at 136.69 on Friday. Wabco Holdings Inc. has a 1-year low of $96.10 and a 1-year high of $144.98. The firm has a 50-day moving average price of $134.70 and a 200 day moving average price of $121.99. The company has a market cap of $7.33 billion, a price-to-earnings ratio of 22.80 and a beta of 1.65.
Wabco Holdings (NYSE:WBC) last posted its quarterly earnings results on Thursday, July 20th. The auto parts company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.15. The company had revenue of $795 million for the quarter, compared to analysts’ expectations of $759.33 million. Wabco Holdings had a net margin of 11.23% and a return on equity of 40.21%. Wabco Holdings’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.43 EPS. On average, analysts predict that Wabco Holdings Inc. will post $6.27 EPS for the current fiscal year.
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Several analysts recently issued reports on the company. Bank of America Corporation reiterated a “buy” rating and set a $150.00 target price on shares of Wabco Holdings in a report on Saturday. BidaskClub lowered Wabco Holdings from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Stifel Nicolaus reiterated a “buy” rating and set a $150.00 target price (up previously from $130.00) on shares of Wabco Holdings in a report on Friday, July 21st. Royal Bank Of Canada reiterated a “buy” rating and set a $127.00 target price on shares of Wabco Holdings in a report on Friday, July 7th. Finally, Zacks Investment Research lowered Wabco Holdings from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company’s stock. Wabco Holdings currently has an average rating of “Buy” and an average target price of $138.50.
In related news, Director Juergen Gromer sold 7,127 shares of Wabco Holdings stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $138.00, for a total value of $983,526.00. Following the sale, the director now owns 969 shares of the company’s stock, valued at approximately $133,722. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Sean Deason sold 789 shares of Wabco Holdings stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $140.50, for a total transaction of $110,854.50. Following the completion of the sale, the vice president now directly owns 2,277 shares in the company, valued at approximately $319,918.50. The disclosure for this sale can be found here. Insiders sold a total of 14,054 shares of company stock worth $1,952,903 in the last ninety days. 0.79% of the stock is currently owned by insiders.
Wabco Holdings Company Profile
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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