Victory Capital Management Inc. Acquires 170,835 Shares of Wabash National Co. (NYSE:WNC)
Posted by MarketBeat News on Jan 23rd, 2023
Victory Capital Management Inc. lifted its holdings in shares of Wabash National Co. (NYSE:WNC – Get Rating) by 9.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,894,284 shares of the company's stock after purchasing an additional 170,835 shares during the period. Victory Capital Management Inc.'s holdings in Wabash National were worth $29,476,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Raymond James & Associates lifted its stake in shares of Wabash National by 4.2% during the first quarter. Raymond James & Associates now owns 39,348 shares of the company's stock valued at $584,000 after acquiring an additional 1,595 shares during the period. Citigroup Inc. lifted its stake in shares of Wabash National by 6.3% during the first quarter. Citigroup Inc. now owns 44,274 shares of the company's stock valued at $657,000 after acquiring an additional 2,628 shares during the period. MetLife Investment Management LLC lifted its stake in shares of Wabash National by 55.4% during the first quarter. MetLife Investment Management LLC now owns 26,736 shares of the company's stock valued at $397,000 after acquiring an additional 9,533 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Wabash National by 12.9% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 42,203 shares of the company's stock valued at $626,000 after buying an additional 4,808 shares during the period. Finally, APG Asset Management N.V. acquired a new position in Wabash National in the first quarter valued at about $403,000. Institutional investors own 98.24% of the company's stock.
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Insider Buying and Selling at Wabash National
In other Wabash National news, CEO Brent L. Yeagy sold 4,269 shares of Wabash National stock in a transaction on Tuesday, October 25th. The stock was sold at an average price of $17.00, for a total value of $72,573.00. Following the completion of the transaction, the chief executive officer now directly owns 446,824 shares of the company's stock, valued at approximately $7,596,008. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Wabash National news, CEO Brent L. Yeagy sold 4,269 shares of Wabash National stock in a transaction on Tuesday, October 25th. The stock was sold at an average price of $17.00, for a total value of $72,573.00. Following the completion of the transaction, the chief executive officer now directly owns 446,824 shares of the company's stock, valued at approximately $7,596,008. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brent L. Yeagy sold 7,986 shares of Wabash National stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $21.56, for a total value of $172,178.16. Following the completion of the transaction, the chief executive officer now directly owns 427,135 shares of the company's stock, valued at $9,209,030.60. The disclosure for this sale can be found here. Insiders sold 90,017 shares of company stock valued at $1,889,693 in the last three months. Corporate insiders own 1.64% of the company's stock.
Wabash National Trading Up 1.0 %
NYSE WNC opened at $25.05 on Monday. The firm has a market cap of $1.20 billion, a P/E ratio of 27.23 and a beta of 1.70. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.70 and a quick ratio of 0.92. The stock's 50-day moving average is $24.41 and its 200-day moving average is $19.74. Wabash National Co. has a one year low of $12.23 and a one year high of $26.25.
Wabash National (NYSE:WNC – Get Rating) last released its quarterly earnings results on Wednesday, October 26th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.16. The business had revenue of $655.15 million during the quarter, compared to analysts' expectations of $645.00 million. Wabash National had a return on equity of 21.81% and a net margin of 1.96%. Sell-side analysts anticipate that Wabash National Co. will post 2.15 earnings per share for the current fiscal year.
Wabash National Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 26th. Shareholders of record on Thursday, January 5th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, January 4th. This represents a $0.32 annualized dividend and a yield of 1.28%. Wabash National's dividend payout ratio is presently 34.78%.
Wall Street Analyst Weigh In
Several research firms have weighed in on WNC. Vertical Research lowered Wabash National from a "buy" rating to a "hold" rating and set a $27.00 target price on the stock. in a research note on Monday, December 5th. StockNews.com raised Wabash National from a "hold" rating to a "buy" rating in a research note on Thursday, October 20th. Raymond James increased their target price on Wabash National from $27.00 to $29.00 and gave the company a "strong-buy" rating in a research note on Thursday. Finally, DA Davidson increased their target price on Wabash National from $25.00 to $29.00 in a research note on Tuesday, November 22nd. Two 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, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $26.00.
About Wabash National
Wabash National Corporation designs, manufactures, and distributes engineered solutions for the transportation, logistics, and distribution industries primarily in the United States. The company operates through two segments, Transportation Solutions and Parts & Services. The Transportation Solutions segment provides dry van and platform trailers; refrigerated trailers; converter dollies; van bodies for dry-freight transportation; cutaway van bodies for commercial applications; service bodies; insulated van bodies; stake bodies; refrigerated truck bodies; and used trailers, as well as laminated hardwood oak flooring products.
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