Bank of New York Mellon Corp trimmed its position in WABCO Holdings Inc. (NYSE:WBC) by 0.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 279,036 shares of the auto parts company’s stock after selling 1,953 shares during the period. Bank of New York Mellon Corp’s holdings in WABCO were worth $32,653,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in WABCO in the 2nd quarter valued at about $106,000. Fort L.P. bought a new stake in WABCO in the 2nd quarter valued at about $118,000. Zions Bancorporation bought a new stake in WABCO in the 2nd quarter valued at about $154,000. Quantitative Systematic Strategies LLC acquired a new position in WABCO during the 2nd quarter valued at about $248,000. Finally, Standard Life Aberdeen plc acquired a new position in WABCO during the 2nd quarter valued at about $333,000. 99.24% of the stock is owned by institutional investors and hedge funds.
A number of research firms have issued reports on WBC. ValuEngine upgraded WABCO from a “sell” rating to a “hold” rating in a research note on Wednesday. Morgan Stanley set a $124.00 price target on WABCO and gave the company a “buy” rating in a research note on Friday, October 19th. Robert W. Baird cut their price target on WABCO from $120.00 to $119.00 and set a “neutral” rating for the company in a research note on Friday, October 19th. Citigroup cut their price target on WABCO from $140.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, October 19th. Finally, Bank of America downgraded WABCO from a “buy” rating to an “underperform” rating and cut their price target for the company from $130.00 to $95.00 in a research note on Wednesday, October 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $132.82.
WABCO (NYSE:WBC) last announced its earnings results on Thursday, October 18th. The auto parts company reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.19. WABCO had a return on equity of 33.10% and a net margin of 11.62%. The firm had revenue of $914.80 million for the quarter, compared to the consensus estimate of $932.66 million. During the same quarter in the previous year, the business earned $1.71 EPS. The company’s revenue was up 10.5% compared to the same quarter last year. On average, analysts forecast that WABCO Holdings Inc. will post 7.73 EPS for the current year.
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WABCO Company Profile
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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