Empowered Funds LLC Increases Holdings in Whirlpool Co.
In a recent filing with the Securities and Exchange Commission, Empowered Funds LLC reported a 12.3% increase in its holdings of Whirlpool Co. (NYSE:WHR) shares during the first quarter of 2023. The investment firm now owns 6,469 shares of the company’s stock, worth a total of $854,000 as of the most recent filing.
Whirlpool Co., a leading manufacturer of household appliances, has seen its share price rise steadily in recent months despite market volatility. With a current ratio of 1.02 and a quick ratio of 0.63, the company is well-positioned to weather any potential economic downturns.
Notably, Executive Vice President Juan Carlos Puente recently sold 420 shares of WHR stock at an average price of $134.16 per share on May 26th, netting a total transaction value of $56,347.20. Puente still holds over 17,000 shares in the company valued at more than $2 million.
Despite insider selling activity and market shifts, investors are optimistic about Whirlpool’s financial outlook in the coming years. Shares opened at $146.51 as markets opened on June 20th – well positioned for continued growth as summer approaches.
While past performance is no guarantee for future returns and investors should exercise caution when making any investment decisions, it seems that Empowered Funds LLC’s bet on WHR might just pay off in dividends – both literally and figuratively – for years to come.
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Investment Frenzy Surrounds Whirlpool Corp. as Insider Sells and Brokers Give Conflicting Recommendations
Whirlpool Corp., the American multinational manufacturer of home appliances, has been in the news lately following a spate of investments from hedge funds and other institutional investors. Acadian Asset Management LLC recently augmented its shares in Whirlpool by 14.7% during the first quarter, to now own 3,228 shares of the company’s stock worth $557,000 after buying an additional 414 shares over that period. Its growth was closely followed by MetLife Investment Management LLC’s holdings increase by 19.4%, principal shareholder Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s stake increase by 3.5%, Yousif Capital Management LLC raising its Whirlpool Holdings by 2.4%, and Cibc World Market Inc.’s position boosted by 13.4% during the first quarter.
As reported on StockNews.com, brokers have increasingly reviewed Whirlpool’s status with The Goldman Sachs Group upgrading it from a “neutral” rating to a “buy” rating–despite dropping a relatively significant price target for the company from $170.00 to $160.00–in a research report on Tuesday, April 11th. Following this Seanergy Maritime Holdings Corp also announced they had purchased two vessels with preference to third vessel acquisition.
According to Bloomberg data available at time of writing (June 20th), only one brokerage house dared to give out publicly their recommendation as hold with other three investment analysts having issued a sell rating alongside another holding on for justification purposes before making further commitments in all recommending that investors exercise caution whilst Acadian Asset seems bullish on the stock which bears watching it against possible downturns.
Some insiders have been compelled to sell off their stocks including Executive Vice President Juan Carlos Puente who sold off some of his last May according to filings made at SEC website although he still owns sizable amount equating eight or so times average stock holdings for similarly placed executives.
The company issued its quarterly earnings report on April 24th, stating revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.50 billion and a positive return on equity of 28.28% as well as negative margin of 10.34%. The revenue is down by about 5.5% on a year-over-year basis and is in line with Bloomberg’s data whose forecast for WHR is set at posting an EPS of $16.42 this year.
Whirlpool also revealed it would pay its shareholders dividends for the second quarter recently, which was made on Thursday, June 15th.
In a statement released by Whirlpool Corp., it acknowledged this recent show of interests in its business by investing hedge funds and other institutional investors, asserting that it remains focused on staying competitive while driving innovation within the industry. Only time can tell what next move these investors will take given current divergent recommendation subscribed to–from buy to hold–a bearish indicator invested stakes seem not have taken notice or stockholders are happy to wait another round before re-evaluating their investments closer to results day if they so desire.