First Trust Advisors LP Invests $7.33 Million in Welbilt, Inc (NYSE:WBT)
First Trust Advisors LP acquired a new stake in shares of Welbilt, Inc (NYSE:WBT) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 351,206 shares of the industrial products company’s stock, valued at approximately $7,333,000. First Trust Advisors LP owned approximately 0.25% of Welbilt at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of WBT. Fort L.P. bought a new position in Welbilt during the 2nd quarter valued at $126,000. Cornerstone Wealth Management LLC purchased a new stake in shares of Welbilt during the 2nd quarter valued at $200,000. 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. Finally, Quantum Capital Management purchased a new stake in shares of Welbilt during the 2nd quarter valued at $256,000. Institutional investors and hedge funds own 92.24% of the company’s stock.
In other news, VP Richard James Sheffer acquired 4,400 shares of the firm’s stock in a transaction that occurred on Tuesday, November 27th. The stock was bought at an average price of $13.71 per share, with a total value of $60,324.00. Following the acquisition, the vice president now owns 4,400 shares in the company, valued at approximately $60,324. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Haresh Shah acquired 4,500 shares of the firm’s stock in a transaction that occurred on Monday, November 26th. The stock was purchased at an average cost of $14.04 per share, with a total value of $63,180.00. Following the acquisition, the chief financial officer now owns 4,500 shares in the company, valued at approximately $63,180. The disclosure for this purchase can be found here. In the last three months, insiders purchased 38,862 shares of company stock valued at $522,897. 0.37% of the stock is currently owned by insiders.
Welbilt (NYSE:WBT) last announced its quarterly earnings data on Monday, November 5th. The industrial products company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.03). Welbilt had a return on equity of 88.66% and a net margin of 7.56%. The firm had revenue of $412.90 million during the quarter, compared to analysts’ expectations of $421.89 million. During the same period last year, the business posted $0.22 EPS. The company’s revenue was up 8.5% compared to the same quarter last year. As a group, research analysts predict that Welbilt, Inc will post 0.78 earnings per share for the current fiscal year.
Several equities research analysts have recently issued reports on the company. Barclays set a $25.00 target price on Welbilt and gave the company a “buy” rating in a research report on Monday, August 20th. Citigroup decreased their target price on Welbilt from $24.00 to $23.00 and set a “neutral” rating for the company in a research report on Wednesday, August 15th. KeyCorp decreased their target price on Welbilt from $25.00 to $22.00 and set an “overweight” rating for the company in a research report on Tuesday, November 6th. Wedbush decreased their target price on Welbilt from $29.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, November 6th. Finally, Robert W. Baird set a $19.00 target price on Welbilt and gave the company a “buy” rating in a research report on Monday, November 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $21.75.
WARNING: This report was published by Marea Informative and is owned by of Marea Informative. If you are reading this report on another domain, it was illegally copied and reposted in violation of U.S. and international copyright and trademark law. The legal version of this report can be read at https://www.mareainformativa.com/news/2018/12/08/first-trust-advisors-lp-invests-7-33-million-in-welbilt-inc-wbt-updated-updated-updated.html.
Welbilt Company 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.
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.