Rhumbline Advisers lowered its position in Welbilt Inc (NYSE:WBT) by 1.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 160,143 shares of the industrial products company’s stock after selling 2,817 shares during the period. Rhumbline Advisers owned approximately 0.11% of Welbilt worth $3,765,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently made changes to their positions in WBT. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Welbilt by 41.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,730 shares of the industrial products company’s stock worth $182,000 after purchasing an additional 2,268 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in Welbilt in the fourth quarter worth about $218,000. Connable Office Inc. bought a new stake in Welbilt in the fourth quarter worth about $243,000. Raymond James Financial Services Advisors Inc. bought a new stake in Welbilt in the fourth quarter worth about $282,000. Finally, Nisa Investment Advisors LLC raised its stake in shares of Welbilt by 163.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 16,100 shares of the industrial products company’s stock valued at $379,000 after acquiring an additional 10,000 shares in the last quarter. 89.95% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently weighed in on WBT shares. Barclays started coverage on shares of Welbilt in a research note on Tuesday, December 12th. They set an “overweight” rating and a $25.00 price target for the company. Zacks Investment Research raised shares of Welbilt from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Saturday, January 13th. Susquehanna Bancshares set a $25.00 price target on shares of Welbilt and gave the company a “positive” rating in a research note on Tuesday, February 13th. Seaport Global Securities reaffirmed a “buy” rating on shares of Welbilt in a research note on Tuesday, February 27th. Finally, Citigroup decreased their price target on shares of Welbilt from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Monday, March 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $23.83.
Shares of Welbilt Inc (NYSE WBT) opened at $20.17 on Wednesday. The company has a debt-to-equity ratio of 11.16, a quick ratio of 0.80 and a current ratio of 1.32. Welbilt Inc has a 12 month low of $18.51 and a 12 month high of $23.77. The firm has a market cap of $2,817.01, a P/E ratio of 21.01, a PEG ratio of 2.30 and a beta of 1.41.
Welbilt (NYSE:WBT) last posted its quarterly earnings results on Monday, February 26th. The industrial products company reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.02. The firm had revenue of $365.90 million during the quarter, compared to the consensus estimate of $382.51 million. Welbilt had a net margin of 9.27% and a return on equity of 312.48%. The company’s revenue was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.16 earnings per share. sell-side analysts expect that Welbilt Inc will post 0.88 EPS for the current fiscal year.
COPYRIGHT VIOLATION WARNING: This piece of content was first reported by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright legislation. The correct version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/03/14/rhumbline-advisers-has-3-77-million-holdings-in-welbilt-inc-wbt.html.
Welbilt, Inc, formerly Manitowoc Foodservice, Inc, is a commercial foodservice equipment company. The Company designs, manufactures and supplies food and beverage equipment for the global commercial foodservice market, offering customers operator and patron insights, kitchen solutions, culinary expertise, and implementation support and service.
Receive News & Ratings for Welbilt Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Welbilt and related companies with MarketBeat.com's FREE daily email newsletter.