Orbis Allan Gray Ltd Has $28.55 Million Position in CNH Industrial NV (CNHI)
Orbis Allan Gray Ltd lowered its position in shares of CNH Industrial NV (NASDAQ:CNHI) by 15.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,508,918 shares of the company’s stock after selling 441,631 shares during the period. Orbis Allan Gray Ltd owned approximately 0.18% of CNH Industrial NV worth $28,551,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently made changes to their positions in CNHI. Credit Suisse AG raised its holdings in CNH Industrial NV by 1.4% in the 1st quarter. Credit Suisse AG now owns 3,829,285 shares of the company’s stock worth $36,914,000 after acquiring an additional 52,086 shares during the last quarter. TIAA CREF Investment Management LLC lifted its position in CNH Industrial NV by 51.7% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 5,986,648 shares of the company’s stock valued at $68,128,000 after acquiring an additional 2,040,505 shares in the last quarter. Vanguard Group Inc. lifted its position in CNH Industrial NV by 4.0% in the 1st 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 in the last quarter. Comerica Bank lifted its position in CNH Industrial NV by 1.3% in the 1st quarter. Comerica Bank now owns 76,225 shares of the company’s stock valued at $820,000 after acquiring an additional 986 shares in the last quarter. Finally, CIBC World Markets Inc. bought a new position in CNH Industrial NV in the 2nd quarter valued at approximately $2,022,000.
Several analysts have commented on the company. TheStreet upgraded CNH Industrial NV from a “d+” rating to a “c” rating in a research note on Wednesday, July 26th. Zacks Investment Research cut CNH Industrial NV from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. BidaskClub cut CNH Industrial NV from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Stifel Nicolaus reaffirmed a “hold” rating and set a $11.50 price target on shares of CNH Industrial NV in a report on Friday, July 14th. Finally, Bank of America Corporation raised CNH Industrial NV from a “neutral” rating to a “buy” rating in a report on Monday, June 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $11.26.
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Shares of CNH Industrial NV (NASDAQ CNHI) traded up 0.08% during midday trading on Tuesday, reaching $12.20. 1,079,252 shares of the company traded hands. The company has a 50 day moving average price of $11.51 and a 200 day moving average price of $11.09. The company has a market capitalization of $16.64 billion and a PE ratio of 39.35. CNH Industrial NV has a 1-year low of $7.09 and a 1-year high of $12.22.
CNH Industrial NV (NASDAQ:CNHI) last released its quarterly earnings results on Wednesday, July 26th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. CNH Industrial NV had a return on equity of 21.59% and a net margin of 3.17%. The company had revenue of $6.95 billion during the quarter, compared to analysts’ expectations of $7.07 billion. During the same period last year, the business posted $0.10 earnings per share. The firm’s revenue was up 2.9% compared to the same quarter last year. On average, analysts expect that CNH Industrial NV will post $0.45 earnings per share for the current year.
CNH Industrial NV declared that its board has initiated a stock buyback plan on Monday, June 5th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
CNH Industrial NV Company 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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