Svenska Handelsbanken AB publ Takes Position in Welbilt, Inc (WBT)

Svenska Handelsbanken AB publ acquired a new position in Welbilt, Inc (NYSE:WBT) in the 4th quarter, HoldingsChannel reports. The firm acquired 54,100 shares of the industrial products company’s stock, valued at approximately $601,000.

A number of other large investors have also added to or reduced their stakes in WBT. Bank of New York Mellon Corp boosted its stake in Welbilt by 183.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,474,338 shares of the industrial products company’s stock worth $32,893,000 after buying an additional 953,581 shares during the last quarter. Northern Trust Corp boosted its stake in Welbilt by 3.8% in the 2nd quarter. Northern Trust Corp now owns 760,510 shares of the industrial products company’s stock worth $16,966,000 after buying an additional 27,661 shares during the last quarter. Consolidated Investment Group LLC boosted its stake in Welbilt by 23.5% in the 3rd quarter. Consolidated Investment Group LLC now owns 84,000 shares of the industrial products company’s stock worth $1,754,000 after buying an additional 16,000 shares during the last quarter. Handelsinvest Investeringsforvaltning acquired a new stake in Welbilt in the 3rd quarter worth about $4,119,000. Finally, Handelsbanken Fonder AB acquired a new stake in Welbilt in the 3rd quarter worth about $26,908,000. Hedge funds and other institutional investors own 93.17% of the company’s stock.

In other Welbilt news, VP Richard James Sheffer acquired 4,400 shares of the company’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 acquisition, the vice president now directly owns 4,400 shares of the company’s stock, valued at $60,324. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Haresh Shah acquired 4,500 shares of the company’s stock in a transaction on Monday, November 26th. The shares were acquired at an average price of $14.04 per share, for a total transaction of $63,180.00. Following the completion of the acquisition, the chief financial officer now directly owns 4,500 shares in the company, valued at $63,180. The disclosure for this purchase can be found here. Insiders bought a total of 38,862 shares of company stock worth $522,897 over the last ninety days. Corporate insiders own 0.37% of the company’s stock.

A number of brokerages have issued reports on WBT. ValuEngine raised Welbilt from a “strong sell” rating to a “sell” rating in a research note on Thursday, January 31st. Zacks Investment Research raised Welbilt from a “sell” rating to a “hold” rating in a research note on Saturday, January 19th. Longbow Research set a $16.00 price target on Welbilt and gave the stock a “buy” rating in a research note on Monday, January 14th. William Blair reissued a “buy” rating on shares of Welbilt in a research note on Friday, January 11th. Finally, Barclays set a $19.00 price target on Welbilt and gave the stock a “buy” rating in a research note on Tuesday, November 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $21.11.

Shares of NYSE WBT traded down $0.26 during midday trading on Monday, hitting $14.45. The stock had a trading volume of 10,506 shares, compared to its average volume of 885,013. The firm has a market capitalization of $2.06 billion, a P/E ratio of 18.82 and a beta of 1.74. Welbilt, Inc has a 1-year low of $10.66 and a 1-year high of $23.85. The company has a debt-to-equity ratio of 8.23, a current ratio of 1.36 and a quick ratio of 0.74.

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About Welbilt

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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