Great West Life Assurance Co. Can reduced its position in Wabash National Co. (NYSE:WNC) by 12.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 58,812 shares of the company’s stock after selling 8,490 shares during the period. Great West Life Assurance Co. Can owned about 0.11% of Wabash National worth $703,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of the stock. Paloma Partners Management Co acquired a new stake in Wabash National in the 3rd quarter valued at about $315,000. Scopus Asset Management L.P. acquired a new stake in Wabash National in the 3rd quarter valued at about $3,803,000. Point72 Hong Kong Ltd acquired a new stake in Wabash National in the 3rd quarter valued at about $29,000. Cubist Systematic Strategies LLC lifted its stake in Wabash National by 234.9% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 34,633 shares of the company’s stock valued at $414,000 after purchasing an additional 24,292 shares during the last quarter. Finally, Weld Capital Management LLC acquired a new stake in Wabash National in the 3rd quarter valued at about $126,000.
Several brokerages have issued reports on WNC. Raymond James raised their price objective on shares of Wabash National from $16.00 to $20.00 and gave the stock a “strong-buy” rating in a research report on Friday, November 6th. BMO Capital Markets raised their price objective on shares of Wabash National from $10.50 to $16.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 11th. ValuEngine downgraded shares of Wabash National from a “buy” rating to a “hold” rating in a research report on Thursday, December 3rd. Finally, Zacks Investment Research downgraded shares of Wabash National from a “buy” rating to a “hold” rating in a research report on Saturday, October 3rd. Three analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $18.00.
Wabash National (NYSE:WNC) last announced its earnings results on Thursday, November 5th. The company reported $0.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.16. Wabash National had a negative net margin of 3.34% and a positive return on equity of 9.08%. The company had revenue of $351.60 million for the quarter, compared to analysts’ expectations of $346.84 million. During the same period last year, the firm earned $0.46 earnings per share. The business’s revenue for the quarter was down 39.5% on a year-over-year basis. Equities research analysts predict that Wabash National Co. will post -0.21 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 28th. Investors of record on Thursday, January 7th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, January 6th. This represents a $0.32 dividend on an annualized basis and a yield of 1.80%. Wabash National’s dividend payout ratio (DPR) is 19.75%.
In related news, Director John E. Kunz sold 4,808 shares of Wabash National stock in a transaction that occurred on Friday, December 4th. The shares were sold at an average price of $18.16, for a total value of $87,313.28. Following the transaction, the director now directly owns 65,100 shares of the company’s stock, valued at $1,182,216. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.00% of the company’s stock.
Wabash National Company Profile
Wabash National Corporation designs, manufactures, and distributes transportation and various industrial products primarily in the United States. The company operates through three segments: Commercial Trailer Products, Diversified Products, and Final Mile Products. The Commercial Trailer Products segment provides dry van trailers; platform trailers; refrigerated trailers; converter dollies, big tire haulers, and steel coil haulers; aftermarket parts and services; and used trailers.
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