Water Island Capital LLC Purchases Shares of 259,649 WABCO Holdings Inc. (WBC)

Water Island Capital LLC purchased a new position in shares of WABCO Holdings Inc. (NYSE:WBC) during the 1st quarter, HoldingsChannel.com reports. The fund purchased 259,649 shares of the auto parts company’s stock, valued at approximately $34,230,000. WABCO comprises approximately 1.7% of Water Island Capital LLC’s portfolio, making the stock its 22nd biggest position.

Several other hedge funds have also bought and sold shares of WBC. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of WABCO by 130.9% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 38,233 shares of the auto parts company’s stock worth $4,104,000 after buying an additional 21,674 shares during the period. First Manhattan Co. boosted its holdings in WABCO by 37.3% in the fourth quarter. First Manhattan Co. now owns 1,394,914 shares of the auto parts company’s stock valued at $149,730,000 after acquiring an additional 378,995 shares in the last quarter. Daiwa SB Investments Ltd. boosted its holdings in WABCO by 9.0% in the fourth quarter. Daiwa SB Investments Ltd. now owns 6,510 shares of the auto parts company’s stock valued at $699,000 after acquiring an additional 540 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in WABCO by 1.1% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 66,160 shares of the auto parts company’s stock valued at $7,102,000 after acquiring an additional 712 shares in the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. boosted its holdings in WABCO by 14.9% in the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 14,315 shares of the auto parts company’s stock valued at $1,537,000 after acquiring an additional 1,860 shares in the last quarter. 99.82% of the stock is currently owned by hedge funds and other institutional investors.

WBC has been the topic of several recent analyst reports. Mizuho set a $125.00 price target on shares of WABCO and gave the company a “hold” rating in a report on Tuesday, February 26th. JPMorgan Chase & Co. upgraded shares of WABCO from an “underweight” rating to a “neutral” rating and set a $121.00 target price on the stock in a report on Thursday, February 28th. Vertical Research upgraded shares of WABCO from a “sell” rating to a “hold” rating and set a $141.98 target price on the stock in a report on Wednesday, February 27th. Stifel Nicolaus cut shares of WABCO from a “buy” rating to a “hold” rating and set a $137.00 target price on the stock. in a report on Thursday, March 28th. Finally, Buckingham Research set a $136.00 target price on shares of WABCO and gave the company a “hold” rating in a report on Thursday, March 28th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and two have issued a buy rating to the company. WABCO currently has a consensus rating of “Hold” and an average price target of $134.20.

In related news, insider Nicolas Bardot sold 1,145 shares of the company’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $120.93, for a total value of $138,464.85. Following the transaction, the insider now owns 4,546 shares in the company, valued at approximately $549,747.78. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.58% of the company’s stock.

Shares of WBC stock traded up $0.33 during mid-day trading on Wednesday, reaching $131.36. 3,343 shares of the company’s stock traded hands, compared to its average volume of 681,198. WABCO Holdings Inc. has a 12 month low of $98.90 and a 12 month high of $146.68. The stock has a market cap of $6.72 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 1.14 and a beta of 1.59. The company has a current ratio of 2.60, a quick ratio of 2.13 and a debt-to-equity ratio of 0.62.

WABCO (NYSE:WBC) last announced its earnings results on Friday, February 15th. The auto parts company reported $2.13 EPS for the quarter, beating the Zacks’ consensus estimate of $1.99 by $0.14. The firm had revenue of $911.60 million for the quarter, compared to analysts’ expectations of $963.33 million. WABCO had a net margin of 10.04% and a return on equity of 30.90%. The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.00 EPS. On average, sell-side analysts forecast that WABCO Holdings Inc. will post 7.65 earnings per share for the current fiscal year.

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About WABCO

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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Institutional Ownership by Quarter for WABCO (NYSE:WBC)

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