Nuveen Asset Management LLC Boosts Stock Position in Wabash National Co. (NYSE:WNC)

Defense World · Mar 8, 2023 18:35

Nuveen Asset Management LLC boosted its holdings in shares of Wabash National Co. (NYSE:WNC – Get Rating) by 8.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 852,520 shares of the company's stock after acquiring an additional 69,330 shares during the quarter. Nuveen Asset Management LLC owned 1.78% of Wabash National worth $13,266,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. IFP Advisors Inc boosted its holdings in Wabash National by 14.1% during the 3rd quarter. IFP Advisors Inc now owns 5,189 shares of the company's stock valued at $107,000 after acquiring an additional 642 shares during the period. Captrust Financial Advisors boosted its holdings in Wabash National by 15.3% during the 2nd quarter. Captrust Financial Advisors now owns 5,152 shares of the company's stock valued at $70,000 after acquiring an additional 682 shares during the period. Quantinno Capital Management LP boosted its holdings in Wabash National by 9.4% during the 3rd quarter. Quantinno Capital Management LP now owns 11,505 shares of the company's stock valued at $179,000 after acquiring an additional 990 shares during the period. Mutual of America Capital Management LLC boosted its holdings in Wabash National by 16.7% during the 2nd quarter. Mutual of America Capital Management LLC now owns 8,235 shares of the company's stock valued at $112,000 after acquiring an additional 1,181 shares during the period. Finally, Trexquant Investment LP lifted its holdings in shares of Wabash National by 7.4% in the 2nd quarter. Trexquant Investment LP now owns 17,562 shares of the company's stock worth $238,000 after buying an additional 1,203 shares during the period. Hedge funds and other institutional investors own 98.24% of the company's stock.

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Wabash National Trading Up 1.6 %

WNC opened at $27.59 on Wednesday. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 12.15 and a beta of 1.64. The company has a current ratio of 1.71, a quick ratio of 1.00 and a debt-to-equity ratio of 0.99. Wabash National Co. has a 12 month low of $12.23 and a 12 month high of $30.10. The stock has a fifty day moving average price of $26.19 and a 200-day moving average price of $22.13.

Wabash National (NYSE:WNC – Get Rating) last announced its earnings results on Thursday, February 2nd. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.13. Wabash National had a return on equity of 31.21% and a net margin of 4.49%. The company had revenue of $657.40 million for the quarter, compared to analyst estimates of $668.58 million. During the same period in the prior year, the company posted $0.07 EPS. The firm's quarterly revenue was up 37.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Wabash National Co. will post 2.79 earnings per share for the current fiscal year.

Wabash National Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 27th. Investors of record on Thursday, April 6th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.16%. The ex-dividend date is Wednesday, April 5th. Wabash National's dividend payout ratio is currently 14.10%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on WNC. DA Davidson upped their target price on Wabash National from $29.00 to $35.00 and gave the stock a "buy" rating in a report on Friday, February 3rd. BMO Capital Markets upped their target price on Wabash National from $17.00 to $27.50 in a report on Friday, February 3rd. StockNews.com cut Wabash National from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 21st. Raymond James upped their target price on Wabash National from $29.00 to $33.00 and gave the stock a "strong-buy" rating in a report on Friday, February 3rd. Finally, Vertical Research lowered Wabash National from a "buy" rating to a "hold" rating and set a $27.00 price target for the company. in a research report on Monday, December 5th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $28.30.

Insider Activity at Wabash National

In related news, CEO Brent L. Yeagy sold 39,756 shares of the company's stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $22.96, for a total transaction of $912,797.76. Following the transaction, the chief executive officer now directly owns 379,373 shares of the company's stock, valued at approximately $8,710,404.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Wabash National news, CEO Brent L. Yeagy sold 60,244 shares of the business's stock in a transaction dated Thursday, February 2nd. The stock was sold at an average price of $28.08, for a total transaction of $1,691,651.52. Following the sale, the chief executive officer now owns 319,129 shares in the company, valued at approximately $8,961,142.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Brent L. Yeagy sold 39,756 shares of the business's stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $22.96, for a total value of $912,797.76. Following the sale, the chief executive officer now owns 379,373 shares in the company, valued at approximately $8,710,404.08. The disclosure for this sale can be found here. Insiders have sold 194,961 shares of company stock valued at $5,220,625 in the last ninety days. Corporate insiders own 1.64% of the company's stock.

About Wabash National

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Wabash National Corp. engages in the design, manufacture and market of semi-trailers, truck bodies, specialized commercial vehicles, and liquid transportation systems. It operates through the following segments: Commercial Trailer Products, Diversified Products, and Final Mile Products. The Commercial Trailer Products segment manufactures van and platform trailers and other transportation related equipment to customers who purchase directly from the company or through independent dealers.