Geneva Advisors LLC cut its stake in Whirlpool Corporation (NYSE:WHR) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 161,212 shares of the company’s stock after selling 3,357 shares during the period. Geneva Advisors LLC owned 0.22% of Whirlpool Corporation worth $30,891,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Dupont Capital Management Corp bought a new position in Whirlpool Corporation during the second quarter valued at approximately $100,000. Global X Management Co. LLC increased its position in Whirlpool Corporation by 33.1% in the first quarter. Global X Management Co. LLC now owns 989 shares of the company’s stock worth $169,000 after buying an additional 246 shares during the period. State of Alaska Department of Revenue acquired a new position in Whirlpool Corporation during the first quarter worth approximately $196,000. LLBH Private Wealth Management LLC increased its position in Whirlpool Corporation by 0.4% in the first quarter. LLBH Private Wealth Management LLC now owns 1,177 shares of the company’s stock worth $202,000 after buying an additional 5 shares during the period. Finally, IBM Retirement Fund acquired a new position in Whirlpool Corporation during the second quarter worth approximately $205,000. 94.26% of the stock is currently owned by institutional investors.
Shares of Whirlpool Corporation (NYSE:WHR) opened at 169.21 on Thursday. Whirlpool Corporation has a 12-month low of $145.91 and a 12-month high of $202.99. The stock has a 50 day moving average of $182.27 and a 200-day moving average of $180.64. The company has a market capitalization of $12.35 billion, a PE ratio of 16.94 and a beta of 1.79.
Whirlpool Corporation (NYSE:WHR) last posted its quarterly earnings data on Wednesday, July 26th. The company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.54 by $0.19. Whirlpool Corporation had a return on equity of 18.17% and a net margin of 3.61%. The business had revenue of $5.35 billion for the quarter, compared to analysts’ expectations of $5.35 billion. During the same quarter in the prior year, the firm earned $3.50 earnings per share. Whirlpool Corporation’s revenue for the quarter was up 2.9% compared to the same quarter last year. Analysts predict that Whirlpool Corporation will post $14.64 earnings per share for the current fiscal year.
Whirlpool Corporation declared that its Board of Directors has initiated a share buyback program on Wednesday, July 26th that allows the company to buyback $2.35 billion in shares. This buyback authorization allows the company to buy up to 16.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be issued a $1.10 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.61%. Whirlpool Corporation’s dividend payout ratio (DPR) is 44.04%.
WHR has been the topic of a number of research reports. Credit Suisse Group initiated coverage on shares of Whirlpool Corporation in a research report on Thursday, June 22nd. They set a “neutral” rating and a $208.00 target price on the stock. Royal Bank Of Canada reissued a “buy” rating and set a $216.00 target price on shares of Whirlpool Corporation in a research report on Friday, June 2nd. BidaskClub downgraded shares of Whirlpool Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, Zacks Investment Research downgraded shares of Whirlpool Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Six analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $194.71.
In other news, Director William D. Perez purchased 1,000 shares of the stock in a transaction dated Monday, July 31st. The stock was acquired at an average cost of $176.93 per share, for a total transaction of $176,930.00. Following the acquisition, the director now owns 7,239 shares of the company’s stock, valued at $1,280,796.27. The acquisition was disclosed in a filing with the SEC, which is available at this link. 2.69% of the stock is currently owned by insiders.
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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