Marshall Wace North America L.P. Acquires New Holdings in Welbilt, Inc (WBT)

Marshall Wace North America L.P. acquired a new stake in shares of Welbilt, Inc (NYSE:WBT) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 87,602 shares of the industrial products company’s stock, valued at approximately $1,829,000. Marshall Wace North America L.P. owned about 0.06% of Welbilt at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Fort L.P. purchased a new stake in shares of Welbilt during the 2nd quarter valued at $126,000. Diamond Hill Capital Management Inc. purchased a new stake in shares of Welbilt during the 2nd quarter valued at $210,000. Colony Group LLC purchased a new stake in shares of Welbilt during the 2nd quarter valued at $229,000. Quantum Capital Management purchased a new stake in shares of Welbilt during the 2nd quarter valued at $256,000. Finally, Glenmede Trust Co. NA lifted its holdings in shares of Welbilt by 56.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 13,065 shares of the industrial products company’s stock valued at $272,000 after purchasing an additional 4,695 shares during the last quarter. Hedge funds and other institutional investors own 92.24% of the company’s stock.

Several analysts have recently commented on the company. Zacks Investment Research upgraded Welbilt from a “sell” rating to a “hold” rating in a report on Thursday, October 18th. Barclays set a $25.00 price objective on Welbilt and gave the company a “buy” rating in a report on Monday, August 20th. Citigroup decreased their price objective on Welbilt from $23.00 to $16.00 and set a “neutral” rating for the company in a report on Tuesday, November 6th. Robert W. Baird set a $19.00 price objective on Welbilt and gave the company a “buy” rating in a report on Monday, November 5th. Finally, KeyCorp decreased their price objective on Welbilt from $25.00 to $22.00 and set an “overweight” rating for the company in a report on Tuesday, November 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. Welbilt currently has a consensus rating of “Buy” and an average price target of $21.75.

NYSE WBT opened at $12.26 on Friday. The company has a debt-to-equity ratio of 8.23, a quick ratio of 0.74 and a current ratio of 1.36. Welbilt, Inc has a 1 year low of $12.10 and a 1 year high of $23.85. The firm has a market capitalization of $1.74 billion, a P/E ratio of 15.92 and a beta of 1.08.

Welbilt (NYSE:WBT) last released its earnings results on Monday, November 5th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.03). Welbilt had a net margin of 7.56% and a return on equity of 88.66%. The firm had revenue of $412.90 million during the quarter, compared to analyst estimates of $421.89 million. During the same period in the previous year, the company earned $0.22 earnings per share. Welbilt’s revenue was up 8.5% on a year-over-year basis. On average, analysts expect that Welbilt, Inc will post 0.78 earnings per share for the current fiscal year.

In related news, CFO Haresh Shah purchased 4,500 shares of the business’s stock in a transaction on Monday, November 26th. The shares were bought at an average cost of $14.04 per share, with a total value of $63,180.00. Following the transaction, the chief financial officer now owns 4,500 shares of the company’s stock, valued at $63,180. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Richard James Sheffer purchased 4,400 shares of the business’s stock in a transaction on Tuesday, November 27th. The shares were bought at an average cost of $13.71 per share, for a total transaction of $60,324.00. Following the completion of the transaction, the vice president now directly owns 4,400 shares in the company, valued at approximately $60,324. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 38,862 shares of company stock worth $522,897. 0.37% of the stock is owned by insiders.

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Welbilt 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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