Zurcher Kantonalbank Zurich Cantonalbank Acquires 12,561 Shares of CNH Industrial NV (CNHI)
Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in CNH Industrial NV (NASDAQ:CNHI) by 4.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 326,947 shares of the company’s stock after acquiring an additional 12,561 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CNH Industrial NV were worth $3,705,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Credit Suisse AG boosted its stake in CNH Industrial NV by 1.4% in the first quarter. Credit Suisse AG now owns 3,829,285 shares of the company’s stock valued at $36,914,000 after acquiring an additional 52,086 shares during the last quarter. Vanguard Group Inc. boosted its stake in CNH Industrial NV by 4.0% in the first quarter. Vanguard Group Inc. now owns 22,012,748 shares of the company’s stock valued at $212,204,000 after acquiring an additional 848,678 shares during the last quarter. Comerica Bank boosted its stake in CNH Industrial NV by 1.3% in the first quarter. Comerica Bank now owns 76,225 shares of the company’s stock valued at $820,000 after acquiring an additional 986 shares during the last quarter. Credit Agricole S A boosted its stake in CNH Industrial NV by 10.3% in the first quarter. Credit Agricole S A now owns 6,617,807 shares of the company’s stock valued at $63,796,000 after acquiring an additional 616,168 shares during the last quarter. Finally, Trexquant Investment LP boosted its stake in CNH Industrial NV by 44.6% in the second quarter. Trexquant Investment LP now owns 41,700 shares of the company’s stock valued at $475,000 after acquiring an additional 12,866 shares during the last quarter.
CNH Industrial NV (NASDAQ:CNHI) opened at 11.32 on Monday. The stock’s 50 day moving average is $11.48 and its 200-day moving average is $10.75. The company has a market capitalization of $15.44 billion and a PE ratio of 36.52. CNH Industrial NV has a 12 month low of $6.93 and a 12 month high of $12.13.
CNH Industrial NV (NASDAQ:CNHI) last posted its quarterly earnings data on Wednesday, July 26th. The company reported $0.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.03. CNH Industrial NV had a net margin of 3.17% and a return on equity of 21.59%. The company had revenue of $6.95 billion for the quarter, compared to analyst estimates of $7.07 billion. During the same period in the prior year, the firm posted $0.10 EPS. The company’s quarterly revenue was up 2.9% on a year-over-year basis. On average, analysts expect that CNH Industrial NV will post $0.45 EPS for the current year.
CNH Industrial NV announced that its board has approved a share buyback plan on Monday, June 5th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
CNHI has been the topic of a number of recent research reports. Zacks Investment Research cut shares of CNH Industrial NV from a “buy” rating to a “hold” rating in a research note on Thursday, May 11th. Bank of America Corporation raised shares of CNH Industrial NV from a “neutral” rating to a “buy” rating in a research note on Monday, June 19th. Deutsche Bank AG reissued a “hold” rating and set a $10.00 price target on shares of CNH Industrial NV in a research report on Tuesday, July 4th. Seaport Global Securities raised shares of CNH Industrial NV from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $11.00 to $14.00 in a research report on Thursday, July 13th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $11.50 price target on shares of CNH Industrial NV in a research report on Friday, July 14th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. CNH Industrial NV presently has a consensus rating of “Hold” and a consensus target price of $11.26.
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CNH Industrial NV Profile
CNH Industrial N.V. is a capital goods company. The Company is engaged in the design, production, marketing, sale and financing of agricultural and construction equipment, trucks, commercial vehicles, buses and specialty vehicles for firefighting, defense and other uses, as well as engines, transmissions and axles for vehicles and engines under marine and power generation applications.
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