Verition Fund Management LLC Acquires New Holdings in Welbilt, Inc (NYSE:WBT)


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Verition Fund Management LLC acquired a new stake in shares of Welbilt, Inc (NYSE:WBT) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 13,898 shares of the industrial products company’s stock, valued at approximately $183,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its holdings in shares of Welbilt by 2.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 78,441 shares of the industrial products company’s stock valued at $1,035,000 after buying an additional 1,721 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Welbilt by 44.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,850 shares of the industrial products company’s stock valued at $90,000 after buying an additional 2,100 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Welbilt by 1.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 123,806 shares of the industrial products company’s stock valued at $1,634,000 after buying an additional 2,300 shares during the period. Blair William & Co. IL boosted its holdings in shares of Welbilt by 5.2% in the fourth quarter. Blair William & Co. IL now owns 48,641 shares of the industrial products company’s stock valued at $642,000 after buying an additional 2,408 shares during the period. Finally, First Mercantile Trust Co. acquired a new position in shares of Welbilt in the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 83.26% of the company’s stock.

NYSE WBT opened at $15.60 on Thursday. The company has a current ratio of 2.12, a quick ratio of 1.32 and a debt-to-equity ratio of 6.95. The firm’s fifty day moving average price is $16.00 and its two-hundred day moving average price is $11.77. Welbilt, Inc has a 1 year low of $3.90 and a 1 year high of $17.25. The firm has a market capitalization of $2.21 billion, a P/E ratio of 390.00 and a beta of 1.99.

Welbilt (NYSE:WBT) last posted its quarterly earnings results on Thursday, February 25th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.12. Welbilt had a net margin of 0.45% and a return on equity of 21.76%. The firm had revenue of $320.00 million for the quarter, compared to analyst estimates of $289.56 million. During the same period in the prior year, the firm posted $0.19 earnings per share. The company’s quarterly revenue was down 16.2% compared to the same quarter last year. On average, research analysts anticipate that Welbilt, Inc will post -0.03 EPS for the current fiscal year.

Several research analysts have recently weighed in on WBT shares. Citigroup upped their price target on shares of Welbilt from $13.00 to $19.00 in a report on Thursday, March 11th. Barclays boosted their price objective on shares of Welbilt from $15.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, January 15th. BMO Capital Markets boosted their price objective on shares of Welbilt from $8.50 to $17.00 and gave the stock a “market perform” rating in a research report on Monday, March 1st. KeyCorp boosted their price objective on shares of Welbilt from $11.00 to $18.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 5th. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered shares of Welbilt from a “buy” rating to a “hold” rating in a research report on Wednesday, March 3rd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Welbilt has an average rating of “Buy” and an average target price of $16.67.

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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