Evercore Wealth Management LLC lifted its position in Welbilt, Inc (NYSE:WBT) by 0.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,249,277 shares of the industrial products company’s stock after acquiring an additional 8,912 shares during the period. Evercore Wealth Management LLC owned 0.89% of Welbilt worth $26,085,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of Montreal Can increased its stake in shares of Welbilt by 8.9% in the 2nd quarter. Bank of Montreal Can now owns 27,814 shares of the industrial products company’s stock valued at $620,000 after acquiring an additional 2,269 shares during the last quarter. Cornerstone Wealth Management LLC bought a new stake in shares of Welbilt in the 2nd quarter valued at about $200,000. Dupont Capital Management Corp increased its stake in shares of Welbilt by 12.6% in the 2nd quarter. Dupont Capital Management Corp now owns 60,854 shares of the industrial products company’s stock valued at $1,358,000 after acquiring an additional 6,793 shares during the last quarter. Aperio Group LLC increased its stake in shares of Welbilt by 10.5% in the 2nd quarter. Aperio Group LLC now owns 48,981 shares of the industrial products company’s stock valued at $1,093,000 after acquiring an additional 4,635 shares during the last quarter. Finally, Comerica Bank bought a new stake in Welbilt during the 2nd quarter worth approximately $5,262,000. 92.24% of the stock is currently owned by institutional investors.
In other news, insider William Johnson purchased 29,962 shares of Welbilt stock in a transaction on Tuesday, November 20th. The stock was purchased at an average price of $13.33 per share, with a total value of $399,393.46. Following the transaction, the insider now directly owns 29,962 shares in the company, valued at approximately $399,393.46. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Richard James Sheffer purchased 4,400 shares of Welbilt stock in a transaction on Tuesday, November 27th. The shares were purchased at an average cost of $13.71 per share, with a total value of $60,324.00. Following the transaction, the vice president now owns 4,400 shares in the company, valued at $60,324. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 38,862 shares of company stock valued at $522,897. Insiders own 0.37% of the company’s stock.
NYSE WBT opened at $13.01 on Thursday. Welbilt, Inc has a 52-week low of $12.75 and a 52-week high of $23.85. The company has a debt-to-equity ratio of 8.23, a current ratio of 1.36 and a quick ratio of 0.74. The company has a market cap of $1.82 billion, a P/E ratio of 15.13 and a beta of 1.08.
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). Welbilt had a return on equity of 88.66% and a net margin of 7.56%. The business had revenue of $412.90 million for the quarter, compared to the consensus estimate of $421.89 million. During the same period in the previous year, the company posted $0.22 earnings per share. Welbilt’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, sell-side analysts expect that Welbilt, Inc will post 0.78 earnings per share for the current year.
A number of analysts recently issued reports on WBT shares. Citigroup lowered their target price on Welbilt from $24.00 to $23.00 and set a “neutral” rating for the company in a research note on Wednesday, August 15th. Barclays set a $25.00 target price on Welbilt and gave the stock a “buy” rating in a research note on Monday, August 20th. Zacks Investment Research raised Welbilt from a “sell” rating to a “hold” rating in a research note on Thursday, October 18th. Robert W. Baird set a $19.00 target price on Welbilt and gave the stock a “buy” rating in a research note on Monday, November 5th. Finally, KeyCorp lowered their target price on Welbilt from $25.00 to $22.00 and set an “overweight” rating for the company in a research note on Tuesday, November 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $21.75.
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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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