Private Advisors LLC Purchases New Holdings in Welbilt, Inc (NYSE:WBT)

Private Advisors LLC purchased a new stake in Welbilt, Inc (NYSE:WBT) in the first quarter, Holdings Channel reports. The firm purchased 63,000 shares of the industrial products company’s stock, valued at approximately $1,032,000.

Other institutional investors have also added to or reduced their stakes in the company. Bessemer Group Inc. raised its holdings in Welbilt by 1.5% during the 4th quarter. Bessemer Group Inc. now owns 50,092 shares of the industrial products company’s stock worth $557,000 after purchasing an additional 741 shares during the last quarter. River Wealth Advisors LLC raised its holdings in Welbilt by 2.3% during the 1st quarter. River Wealth Advisors LLC now owns 44,428 shares of the industrial products company’s stock worth $728,000 after purchasing an additional 1,000 shares during the last quarter. Huntington National Bank raised its holdings in Welbilt by 99.0% during the 1st quarter. Huntington National Bank now owns 3,270 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 1,627 shares during the last quarter. Investec Asset Management PTY Ltd raised its holdings in Welbilt by 2.7% during the 1st quarter. Investec Asset Management PTY Ltd now owns 65,283 shares of the industrial products company’s stock worth $1,062,000 after purchasing an additional 1,699 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in Welbilt by 18.1% during the 1st quarter. Nisa Investment Advisors LLC now owns 12,400 shares of the industrial products company’s stock worth $203,000 after purchasing an additional 1,900 shares during the last quarter. 99.99% of the stock is owned by institutional investors and hedge funds.

Several analysts have weighed in on WBT shares. ValuEngine raised Welbilt from a “sell” rating to a “hold” rating in a report on Saturday, March 30th. Barclays reissued a “buy” rating and set a $19.00 price objective on shares of Welbilt in a report on Wednesday, February 20th. Robert W. Baird set a $18.00 price objective on Welbilt and gave the stock a “buy” rating in a report on Wednesday, February 20th. Finally, Zacks Investment Research upgraded Welbilt from a “sell” rating to a “hold” rating in a research report on Saturday, April 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. Welbilt has an average rating of “Buy” and a consensus target price of $20.14.

Shares of Welbilt stock traded down $0.13 during trading on Friday, hitting $16.00. 1,213,413 shares of the company were exchanged, compared to its average volume of 1,024,144. The firm has a market capitalization of $2.26 billion, a P/E ratio of 20.51 and a beta of 1.70. Welbilt, Inc has a 1-year low of $10.66 and a 1-year high of $23.85. The company has a current ratio of 1.74, a quick ratio of 1.08 and a debt-to-equity ratio of 8.18.

Welbilt (NYSE:WBT) last posted its earnings results on Tuesday, May 7th. The industrial products company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.03). The company had revenue of $375.30 million for the quarter, compared to analyst estimates of $373.44 million. Welbilt had a return on equity of 57.14% and a net margin of 3.75%. Welbilt’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.15 earnings per share. Research analysts anticipate that Welbilt, Inc will post 0.76 EPS for the current fiscal year.

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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.

Further Reading: Beta

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Institutional Ownership by Quarter for Welbilt (NYSE:WBT)

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