Wabash National Corporation (WNC) Position Boosted by PNC Financial Services Group Inc.
PNC Financial Services Group Inc. lifted its stake in Wabash National Corporation (NYSE:WNC) by 0.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 31,360 shares of the company’s stock after purchasing an additional 156 shares during the quarter. PNC Financial Services Group Inc. owned 0.05% of Wabash National Corporation worth $689,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. acquired a new position in shares of Wabash National Corporation in the 1st quarter valued at $108,000. Meeder Asset Management Inc. boosted its position in shares of Wabash National Corporation by 390.1% in the 2nd quarter. Meeder Asset Management Inc. now owns 7,450 shares of the company’s stock valued at $163,000 after purchasing an additional 5,930 shares during the period. Ronna Sue Cohen acquired a new position in shares of Wabash National Corporation in the 2nd quarter valued at $203,000. Hikari Power Ltd acquired a new position in shares of Wabash National Corporation in the 2nd quarter valued at $209,000. Finally, US Bancorp DE boosted its position in shares of Wabash National Corporation by 246.9% in the 2nd quarter. US Bancorp DE now owns 9,757 shares of the company’s stock valued at $215,000 after purchasing an additional 6,944 shares during the period.
A number of equities analysts recently weighed in on WNC shares. BMO Capital Markets reiterated a “hold” rating and issued a $20.00 price target on shares of Wabash National Corporation in a research report on Friday, July 7th. BidaskClub upgraded Wabash National Corporation from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Zacks Investment Research lowered Wabash National Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Stifel Nicolaus set a $22.00 price target on Wabash National Corporation and gave the company a “hold” rating in a research report on Thursday, August 10th. Finally, Craig Hallum upgraded Wabash National Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, August 10th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. Wabash National Corporation currently has an average rating of “Hold” and a consensus target price of $22.86.
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Wabash National Corporation (NYSE:WNC) last posted its earnings results on Tuesday, July 25th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.05). Wabash National Corporation had a net margin of 5.77% and a return on equity of 20.76%. The business had revenue of $435.90 million during the quarter, compared to analyst estimates of $436.85 million. During the same period in the previous year, the firm posted $0.55 earnings per share. The firm’s revenue was down 7.5% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 26th. Shareholders of record on Thursday, October 5th will be paid a $0.06 dividend. The ex-dividend date is Wednesday, October 4th. This represents a $0.24 dividend on an annualized basis and a yield of 1.08%. Wabash National Corporation’s payout ratio is 15.48%.
Wabash National Corporation Profile
Wabash National Corporation is a diversified industrial manufacturer and producer of semi-trailers and liquid transportation systems. The Company’s segments include Commercial Trailer Products; Diversified Products, and Corporate and Eliminations segment. The Company designs, manufactures and markets a range of products, including dry freight and refrigerated trailers, platform trailers, bulk tank trailers, dry and refrigerated truck bodies, truck-mounted tanks, intermodal equipment, aircraft refueling equipment, structural composite panels and products, trailer aerodynamic solutions, and specialty food grade and pharmaceutical equipment.
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