Public Employees Retirement System of Ohio decreased its holdings in Welbilt, Inc (NYSE:WBT) by 41.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 99,162 shares of the industrial products company’s stock after selling 70,015 shares during the period. Public Employees Retirement System of Ohio’s holdings in Welbilt were worth $1,656,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Strs Ohio acquired a new position in Welbilt in the second quarter worth approximately $40,000. Huntington National Bank grew its holdings in Welbilt by 39.8% during the second quarter. Huntington National Bank now owns 4,571 shares of the industrial products company’s stock valued at $77,000 after purchasing an additional 1,301 shares during the last quarter. CWM Advisors LLC acquired a new position in Welbilt during the second quarter valued at approximately $176,000. Prudential Financial Inc. acquired a new position in Welbilt during the second quarter valued at approximately $219,000. Finally, Victory Capital Management Inc. acquired a new position in Welbilt during the first quarter valued at approximately $238,000.
Several equities research analysts have recently weighed in on the company. Citigroup raised Welbilt from a “neutral” rating to a “buy” rating and increased their price objective for the company from $17.00 to $19.00 in a research report on Wednesday, July 10th. ValuEngine raised Welbilt from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $19.67.
WBT stock traded up $0.25 during midday trading on Thursday, hitting $17.56. The stock had a trading volume of 39,353 shares, compared to its average volume of 1,071,685. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of 22.40 and a beta of 1.66. Welbilt, Inc has a 52 week low of $10.66 and a 52 week high of $22.41. The stock has a 50-day simple moving average of $15.95 and a 200 day simple moving average of $16.18. The company has a current ratio of 1.70, a quick ratio of 1.07 and a debt-to-equity ratio of 6.81.
Welbilt (NYSE:WBT) last issued its earnings results on Tuesday, August 6th. The industrial products company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.18 by $0.04. The firm had revenue of $426.30 million during the quarter, compared to analysts’ expectations of $427.07 million. Welbilt had a return on equity of 52.45% and a net margin of 4.23%. Welbilt’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period last year, the business earned $0.20 earnings per share. On average, equities analysts forecast that Welbilt, Inc will post 0.73 EPS for the current year.
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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