Highland Capital Management LLC lowered its stake in shares of Whirlpool Corporation (NYSE:WHR) by 33.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 3,961 shares of the company’s stock after selling 1,999 shares during the period. Highland Capital Management LLC’s holdings in Whirlpool Corporation were worth $759,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in WHR. BlackRock Inc. boosted its position in shares of Whirlpool Corporation by 3,484.6% in the first quarter. BlackRock Inc. now owns 4,983,869 shares of the company’s stock valued at $853,885,000 after buying an additional 4,844,832 shares during the last quarter. Levin Capital Strategies L.P. purchased a new position in shares of Whirlpool Corporation during the first quarter valued at about $113,386,000. Findlay Park Partners LLP boosted its position in shares of Whirlpool Corporation by 333.3% in the first quarter. Findlay Park Partners LLP now owns 650,000 shares of the company’s stock valued at $111,365,000 after buying an additional 500,000 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Whirlpool Corporation by 105.1% in the first quarter. SG Americas Securities LLC now owns 22,554 shares of the company’s stock valued at $3,864,000 after buying an additional 464,224 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in Whirlpool Corporation by 17.2% in the first quarter. Bank of America Corp DE now owns 1,787,659 shares of the company’s stock worth $306,280,000 after buying an additional 262,246 shares during the last quarter. 93.82% of the stock is currently owned by institutional investors.
Whirlpool Corporation (NYSE:WHR) traded down 1.060% during midday trading on Tuesday, hitting $175.995. The company had a trading volume of 744,566 shares. The stock has a market cap of $12.84 billion, a PE ratio of 17.615 and a beta of 1.81. The stock’s 50-day moving average price is $191.25 and its 200-day moving average price is $181.51. Whirlpool Corporation has a 52-week low of $145.91 and a 52-week high of $202.99.
Whirlpool Corporation (NYSE:WHR) last issued its quarterly earnings results on Wednesday, July 26th. The company reported $3.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.54 by $0.19. The business had revenue of $5.35 billion during the quarter, compared to analyst estimates of $5.35 billion. Whirlpool Corporation had a net margin of 3.61% and a return on equity of 18.17%. The company’s revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the firm posted $3.50 earnings per share. On average, equities research analysts expect that Whirlpool Corporation will post $15.01 EPS for the current fiscal year.
Whirlpool Corporation announced that its Board of Directors has approved a stock repurchase plan on Wednesday, July 26th that permits the company to repurchase $2.35 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 16.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
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A number of research analysts have recently weighed in on the company. Royal Bank Of Canada reaffirmed a “top pick” rating and set a $216.00 price objective (down from $226.00) on shares of Whirlpool Corporation in a research report on Tuesday, June 20th. Zacks Investment Research downgraded Whirlpool Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, April 19th. BidaskClub cut Whirlpool Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Credit Suisse Group started coverage on Whirlpool Corporation in a report on Thursday, June 22nd. They issued a “neutral” rating and a $208.00 target price for the company. Five investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Whirlpool Corporation currently has a consensus rating of “Buy” and a consensus target price of $194.71.
In other news, insider Marc R. Bitzer sold 19,314 shares of the company’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $183.84, for a total transaction of $3,550,685.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.69% of the company’s stock.
Whirlpool Corporation Company Profile
Whirlpool Corporation is a manufacturer and marketer of home appliances. The Company’s segments include North America; Europe, Middle East and Africa (EMEA); Latin America, and Asia. In North America, the Company markets and distributes home appliances and small domestic appliances under a range of brand names.
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