Westpac Banking Corp lifted its stake in WABCO Holdings Inc. (NYSE:WBC) by 30.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 28,888 shares of the auto parts company’s stock after purchasing an additional 6,741 shares during the quarter. Westpac Banking Corp’s holdings in WABCO were worth $3,831,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of WBC. Alpine Associates Management Inc. bought a new stake in shares of WABCO in the first quarter valued at approximately $62,568,000. CNH Partners LLC acquired a new position in WABCO during the first quarter valued at approximately $50,767,000. Gabelli Funds LLC acquired a new position in WABCO during the first quarter valued at approximately $37,934,000. Water Island Capital LLC acquired a new position in WABCO during the first quarter valued at approximately $34,230,000. Finally, Pictet Asset Management Ltd. raised its position in WABCO by 54.6% during the first quarter. Pictet Asset Management Ltd. now owns 713,472 shares of the auto parts company’s stock valued at $94,057,000 after purchasing an additional 252,100 shares in the last quarter. Institutional investors and hedge funds own 92.88% of the company’s stock.
Several research analysts have commented on the stock. William Blair downgraded shares of WABCO from an “outperform” rating to a “market perform” rating in a research report on Friday, April 26th. Wolfe Research downgraded shares of WABCO from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, April 30th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $133.57.
In other news, insider Nicolas Bardot sold 750 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $132.00, for a total transaction of $99,000.00. Following the completion of the transaction, the insider now directly owns 3,053 shares in the company, valued at $402,996. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.58% of the stock is currently owned by corporate insiders.
Shares of NYSE:WBC opened at $132.24 on Friday. The company has a fifty day moving average of $132.44 and a 200-day moving average of $131.24. The company has a market capitalization of $6.78 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 1.19 and a beta of 1.40. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.49 and a current ratio of 2.98. WABCO Holdings Inc. has a 52-week low of $98.90 and a 52-week high of $146.68.
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, steering, transmission automation, and air management systems primarily for commercial vehicles.
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