Oppenheimer Asset Management Inc. Increases Stake in WABCO Holdings Inc. (WBC)
Oppenheimer Asset Management Inc. lifted its stake in shares of WABCO Holdings Inc. (NYSE:WBC) by 7.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,937 shares of the auto parts company’s stock after purchasing an additional 1,078 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in WABCO were worth $2,210,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in WBC. Morgan Stanley raised its position in shares of WABCO by 33.5% during the 1st quarter. Morgan Stanley now owns 33,645 shares of the auto parts company’s stock worth $3,950,000 after purchasing an additional 8,446 shares during the period. Trexquant Investment LP acquired a new stake in shares of WABCO during the 2nd quarter worth approximately $204,000. Canada Pension Plan Investment Board raised its position in shares of WABCO by 0.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 90,913 shares of the auto parts company’s stock worth $11,592,000 after purchasing an additional 400 shares during the period. Schwab Charles Investment Management Inc. increased its position in WABCO by 6.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 171,884 shares of the auto parts company’s stock valued at $21,917,000 after acquiring an additional 10,072 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its position in WABCO by 9.1% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 10,780 shares of the auto parts company’s stock valued at $1,437,000 after acquiring an additional 899 shares during the period. Institutional investors and hedge funds own 95.32% of the company’s stock.
Shares of WABCO Holdings Inc. (WBC) traded up $0.63 during midday trading on Tuesday, reaching $144.65. The company’s stock had a trading volume of 197,600 shares, compared to its average volume of 412,208. The company has a current ratio of 3.00, a quick ratio of 2.60 and a debt-to-equity ratio of 0.99. The company has a market cap of $7,726.41, a price-to-earnings ratio of 22.72, a P/E/G ratio of 1.44 and a beta of 1.67. WABCO Holdings Inc. has a 52-week low of $102.39 and a 52-week high of $156.08.
WBC has been the topic of several analyst reports. BMO Capital Markets raised their target price on WABCO from $147.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, October 20th. Zacks Investment Research cut WABCO from a “buy” rating to a “hold” rating in a research report on Friday, September 8th. Robert W. Baird restated a “buy” rating and issued a $149.00 target price on shares of WABCO in a research report on Thursday, August 24th. Stifel Nicolaus restated a “buy” rating and issued a $160.00 target price on shares of WABCO in a research report on Thursday, October 12th. Finally, Royal Bank of Canada raised their target price on WABCO to $169.00 and gave the company an “outperform” rating in a research report on Friday, October 20th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. WABCO presently has an average rating of “Buy” and a consensus target price of $159.80.
In other WABCO news, Chairman Jacques Esculier sold 172,394 shares of the stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $151.24, for a total transaction of $26,072,868.56. Following the completion of the transaction, the chairman now directly owns 312,079 shares of the company’s stock, valued at approximately $47,198,827.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.79% of the company’s stock.
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WABCO Holdings Inc is a supplier of electronic, mechanical, electro-mechanical and aerodynamic products for various manufacturers of commercial trucks, buses and trailers, as well as passenger cars. The Company engineers, develops, manufactures and sells braking, stability, suspension and transmission automation and air management systems primarily for commercial vehicles.
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