Alyeska Investment Group L.P. Buys Shares of 332,192 Welbilt, Inc (NYSE:WBT)

Alyeska Investment Group L.P. bought a new stake in shares of Welbilt, Inc (NYSE:WBT) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 332,192 shares of the industrial products company’s stock, valued at approximately $5,398,000.

Other large investors have also modified their holdings of the company. Capital Asset Advisory Services LLC acquired a new stake in shares of Welbilt in the fourth quarter valued at about $26,000. International Assets Investment Management LLC grew its position in shares of Welbilt by 224.4% in the first quarter. International Assets Investment Management LLC now owns 2,086 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 1,443 shares during the last quarter. Arlington Partners LLC acquired a new stake in shares of Welbilt in the first quarter valued at about $80,000. The PNC Financial Services Group Inc. grew its position in shares of Welbilt by 36.1% in the first quarter. The PNC Financial Services Group Inc. now owns 6,600 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 1,750 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Welbilt in the first quarter valued at about $161,000. 90.67% of the stock is currently owned by institutional investors.

NYSE:WBT opened at $23.49 on Thursday. Welbilt, Inc has a 1 year low of $5.78 and a 1 year high of $25.19. The firm has a 50 day moving average price of $23.23. The company has a quick ratio of 1.36, a current ratio of 2.12 and a debt-to-equity ratio of 5.21. The company has a market capitalization of $3.34 billion, a PE ratio of 213.55 and a beta of 2.46.

Welbilt (NYSE:WBT) last posted its quarterly earnings data on Thursday, May 6th. The industrial products company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.05. Welbilt had a net margin of 1.37% and a return on equity of 13.46%. The firm had revenue of $316.80 million during the quarter, compared to analysts’ expectations of $287.77 million. During the same quarter in the previous year, the company posted $0.01 EPS. Welbilt’s revenue was down 3.7% on a year-over-year basis. On average, analysts anticipate that Welbilt, Inc will post 0.47 earnings per share for the current fiscal year.

A number of research firms recently weighed in on WBT. William Blair downgraded Welbilt from an “outperform” rating to a “market perform” rating and set a $24.00 target price on the stock. in a research report on Tuesday, July 13th. Robert W. Baird downgraded Welbilt from an “outperform” rating to a “neutral” rating and set a $26.00 target price on the stock. in a research report on Tuesday, June 22nd. Barclays downgraded Welbilt from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $20.00 to $24.00 in a research report on Thursday, July 15th. CL King cut shares of Welbilt from a “buy” rating to a “neutral” rating in a research note on Friday, July 2nd. Finally, Zacks Investment Research cut shares of Welbilt from a “buy” rating to a “hold” rating in a research note on Thursday, July 15th. Ten investment analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and an average target price of $23.25.

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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Institutional Ownership by Quarter for Welbilt (NYSE:WBT)

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