Whirlpool Co. (NYSE:WHR) recently caught the attention of investment firm Daymark Wealth Partners LLC, as it purchased a new stake in the company during the second quarter. According to its 13F filing with the Securities and Exchange Commission (SEC), Daymark Wealth Partners LLC acquired 17,577 shares of Whirlpool stock, with an estimated value of around $2,615,000.
This move by Daymark Wealth Partners LLC indicates a growing interest in Whirlpool’s potential as an investment opportunity. With this acquisition, the investment firm is recognizing the value that Whirlpool brings to the table and aims to benefit from its future growth.
In order to understand the motives behind this investment, it is important to examine Whirlpool’s recent performance. The company announced its quarterly earnings results on July 24th and impressed analysts by surpassing their expectations. Whirlpool reported earnings per share (EPS) of $4.21 for the quarter, which was $0.45 higher than analysts’ consensus estimates of $3.76.
Although there was a slight decline in revenue, with $4.79 billion generated for the quarter compared to the estimated $4.81 billion, Whirlpool managed to showcase its positive return on equity of 29.70%. However, it should be noted that there were concerns regarding its net margin which stood at negative 8.13%.
When comparing these results to the same period in the previous year when earnings per share were recorded at $5.97, it is evident that Whirlpool experienced a noticeable decrease in profitability over time.
Sell-side analysts have projected that Whirlpool Co.’s current fiscal year will yield an EPS of 16.47 based on historical figures and market trends.
The entry of Daymark Wealth Partners LLC into Whirlpool’s investor pool reflects optimism regarding future prospects for both companies involved. As one of the leading manufacturers and marketers of home appliances, Whirlpool has consistently demonstrated its ability to adapt to changing market conditions and deliver quality products to consumers around the world. Its brand reputation and extensive product portfolio have allowed it to remain competitive in the industry.
On the other hand, Daymark Wealth Partners LLC’s interest in investing in Whirlpool can be seen as a strategic move to diversify its investment portfolio. By selecting a reputable company like Whirlpool with potential for growth, Daymark aims to capitalize on this opportunity and enhance its overall returns for its clients.
However, it is important to note that investing in stocks involves risks, and past performance may not necessarily indicate future results. Investors should carefully consider their investment strategies before making any decisions.
In conclusion, Daymark Wealth Partners LLC’s recent acquisition of a stake in Whirlpool Co. demonstrates the investment firm’s confidence in Whirlpool’s potential for growth and profitability. This move suggests that both companies anticipate positive outcomes from this agreement. As with any investment, due diligence and careful analysis are paramount when considering opportunities in the stock market.
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Whirlpool Co. Attracts Attention from Hedge Funds and Institutional Investors, Analyst Ratings and Insider Transactions Reflect Potential Growth
Whirlpool Co. continues to gain attention from hedge funds and institutional investors, as evidenced by their recent stake increases. One such investor, Meiji Yasuda Asset Management Co Ltd., boosted its stake in Whirlpool by 3.6% during the second quarter. This move added an additional 60 shares to their portfolio, bringing their total ownership to 1,719 shares worth $266,000.
Assetmark Inc. also showed confidence in Whirlpool’s stock by increasing its stake by 8.9% during the first quarter. They purchased an additional 79 shares, which brought their total ownership to 968 shares valued at $128,000.
Empirical Finance LLC saw potential in Whirlpool’s stock as well and grew its stake by 6.2% during the first quarter. Adding an extra 91 shares to their portfolio, they now own 1,569 shares worth $207,000.
Kentucky Retirement Systems joined the ranks of investors who believe in Whirlpool’s future growth prospects. They increased their stake by 2.3%, purchasing an additional 96 shares during the third quarter. With a current ownership of 4,267 shares valued at $575,000.
Lakewood Asset Management LLC also expressed its belief in Whirlpool by growing its stake by 1% during the second quarter. This move added an additional 99 shares to their portfolio, bringing their total ownership to 10,070 shares worth $1,498,000.
These investments indicate a level of confidence among hedge funds and institutional investors that Whirlpool is a sound investment option with potential for future growth.
In terms of analyst ratings on Whirlpool’s stock, several research analysts have shared their perspectives recently. Bank of America reduced their price target on WHR from $90 to $87 in a research note released on July 18th.
Credit Suisse Group reaffirmed a “neutral” rating and set a target price of $150 on Whirlpool in a research report published on July 25th. StockNews.com began coverage of Whirlpool with a rating of “hold” on August 17th.
Finally, Royal Bank of Canada increased their target price on Whirlpool from $118 to $121 in a research note released on July 26th. Despite these varying opinions, data from Bloomberg suggests that the average rating for Whirlpool is “Hold,” with an average consensus price target of $131.
In other news, CFO James W. Peters sold 6,000 shares of Whirlpool’s stock in a transaction on July 28th, resulting in a total value of $858,720.
Following this sale, Peters now owns 40,764 shares of the company’s stock valued at approximately $5,834,143.68.
Additionally, CEO Marc R. Bitzer sold 20,000 shares at an average price of $143.18 per share during the same transaction as CFO James W. Peters’ sale.
After this sale, Bitzer’s ownership amounts to 138,583 shares valued at $19,842,313.94.
These transactions were disclosed through filings with the Securities & Exchange Commission and can be accessed through the provided hyperlink.
Overall insider ownership currently stands at 1.85% of Whirlpool’s stock.
At present, WHR opened at $133.17 on Friday. The company’s stock has seen fluctuations between its one-year low point of $124.10 and its one-year high point of $160.74.
Whirlpool Co.’s financial standing remains stable as indicated by its current ratio of 0.87 and quick ratio of 0.52.
Moreover, the company carries a debt-to-equity ratio of 2.92 which should be closely monitored moving forward.
With the continued interest from hedge funds and institutional investors, Whirlpool Co. remains in a position of potential growth. However, caution should be exercised as reflected by analyst ratings and the company’s financial health. Investors would be wise to assess these factors before making any investment decisions regarding Whirlpool Co.’s stock.
