Eagle Asset Management Inc. boosted its holdings in shares of WABCO Holdings, Inc. (NYSE:WBC) by 6.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 839,191 shares of the auto parts company’s stock after buying an additional 47,518 shares during the quarter. WABCO makes up approximately 0.6% of Eagle Asset Management Inc.’s investment portfolio, making the stock its 26th largest position. Eagle Asset Management Inc. owned approximately 1.57% of WABCO worth $112,342,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Tredje AP fonden increased its position in WABCO by 55.2% during the first quarter. Tredje AP fonden now owns 9,640 shares of the auto parts company’s stock worth $1,291,000 after buying an additional 3,430 shares during the last quarter. First Mercantile Trust Co. grew its position in shares of WABCO by 94.7% in the first quarter. First Mercantile Trust Co. now owns 1,328 shares of the auto parts company’s stock valued at $178,000 after purchasing an additional 646 shares during the last quarter. Thrivent Financial for Lutherans grew its position in shares of WABCO by 1.2% in the first quarter. Thrivent Financial for Lutherans now owns 717,658 shares of the auto parts company’s stock valued at $96,073,000 after purchasing an additional 8,248 shares during the last quarter. Aperio Group LLC grew its position in shares of WABCO by 2.8% in the first quarter. Aperio Group LLC now owns 28,429 shares of the auto parts company’s stock valued at $3,806,000 after purchasing an additional 781 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new position in shares of WABCO in the first quarter valued at approximately $2,216,000. 97.80% of the stock is currently owned by hedge funds and other institutional investors.
Shares of WBC stock opened at $129.40 on Friday. The company has a debt-to-equity ratio of 1.08, a current ratio of 3.49 and a quick ratio of 3.00. The company has a market capitalization of $6.89 billion, a P/E ratio of 18.86, a P/E/G ratio of 1.11 and a beta of 1.81. WABCO Holdings, Inc. has a 1 year low of $128.83 and a 1 year high of $129.42.
WBC has been the topic of several research reports. Zacks Investment Research downgraded WABCO from a “buy” rating to a “hold” rating in a research report on Sunday, January 21st. Stifel Nicolaus set a $162.00 target price on WABCO and gave the company a “buy” rating in a research report on Friday, February 9th. Buckingham Research reaffirmed a “neutral” rating and issued a $152.00 target price (down previously from $156.00) on shares of WABCO in a research report on Tuesday, February 20th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $150.00 target price (down previously from $160.00) on shares of WABCO in a research report on Friday, February 23rd. Finally, Morgan Stanley initiated coverage on WABCO in a research report on Friday, March 2nd. They issued an “overweight” rating and a $159.00 target price on the stock. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $162.21.
In related news, insider Nicolas Bardot sold 834 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $136.88, for a total value of $114,157.92. Following the completion of the sale, the insider now directly owns 4,243 shares in the company, valued at $580,781.84. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.48% of the company’s stock.
WABCO Holdings Inc, together with its subsidiaries, supplies electronic, mechanical, electro-mechanical, and aerodynamic products worldwide. The company engineers, develops, manufactures, and sells braking, stability, suspension, transmission automation, and air management systems primarily for commercial vehicles.
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