On October 3, 2023, it was reported that &Csenge Advisory Group has acquired a new position in Whirlpool Co. (NYSE:WHR) during the second quarter of this year. According to their 13F filing with the SEC, the advisory group purchased 2,138 shares of Whirlpool’s stock, which amounts to approximately $318,000.
Whirlpool, a multinational manufacturer and marketer of home appliances, recently announced its quarterly earnings data on July 24th. The company exceeded analysts’ expectations by reporting earnings per share (EPS) of $4.21 for the quarter, surpassing consensus estimates of $3.76 by $0.45.
Furthermore, Whirlpool demonstrated a positive return on equity of 29.70% and a negative net margin of 8.13%. Although the company’s revenue for the quarter came in at $4.79 billion, slightly lower than analysts’ projected revenue of $4.81 billion, it is important to note that there was a decline of 6% compared to the same period in the previous year.
In the prior year’s corresponding quarter, Whirlpool posted an EPS of $5.97. Based on estimates provided by equities research analysts, it is anticipated that Whirlpool Co. will achieve an earnings per share of 16.47 for the current year.
The acquisition made by &Csenge Advisory Group signifies investor confidence in Whirlpool despite mixed financial results in recent quarters. As one of the world’s leading appliance manufacturers with brands such as Maytag and KitchenAid under its umbrella, Whirlpool continues to hold a significant position in the market.
Investors and shareholders will likely keep a close eye on future developments within both Whirlpool and &Csenge Advisory Group as they navigate through changing market dynamics and seek further opportunities for growth and profitability in this highly competitive industry.
Growing Interest in Whirlpool Stock: Institutional Investors Increase Holdings
October 3, 2023
Institutional Investors Show Interest in Whirlpool Stock
Whirlpool Corporation, a leading home appliance manufacturer, has recently attracted the attention of several institutional investors who have made significant modifications to their holdings of the company’s stock. These changes in ownership reflect a growing interest in Whirlpool’s potential for long-term growth and profitability.
Providence Capital Advisors LLC, for instance, saw its position in Whirlpool stock increase by a staggering 13,571.0% during the first quarter of this year. The firm now owns an impressive 1,912,706 shares of the company’s stock valued at approximately $14,488,000. Similarly, BlackRock Inc. boosted its position in Whirlpool by 30.1% during the same period, acquiring an additional 1,389,657 shares and bringing its total ownership to 6,001,651 shares worth $792,338,000.
State Street Corp and Millennium Management LLC also increased their positions in Whirlpool during different periods. State Street Corp raised its stake by 21.8% in the third quarter and now holds 3,122,210 shares valued at $420,9050 million. Millennium Management LLC experienced a notable surge as well when it grew its position by 147.6% in the fourth quarter to own 633,276 shares worth $89,583 million.
Furthermore, Renaissance Technologies LLC entered the fray by acquiring a new position in Whirlpool during the fourth quarter with an estimated value of approximately $32 million.
The significant influx of investments from these institutional investors reflects growing confidence in Whirlpool’s ability to deliver positive results and generate substantial returns for shareholders. With nearly 90.89% of the company’s stock owned by these investors collectively with hedge funds at this time.
Several equities analysts have also weighed in on Whirlpool recently. Royal Bank of Canada, for instance, increased the price objective for the company’s stock from $118.00 to $121.00 in a research report released on July 26th. StockNews.com initiated coverage on Whirlpool and labeled it as a “hold” in their research report on August 17th. Meanwhile, Bank of America lowered its price objective from $90.00 to $87.00 in a research report issued on July 18th.
Credit Suisse Group has reiterated a “neutral” rating with a target price of $150.00 for Whirlpool shares in their own research report published on July 25th.
Despite this range of opinions, the consensus target price for Whirlpool stock is reported to be around $131.00 according to Bloomberg.
In related news, Whirlpool’s CEO, Marc R. Bitzer, made headlines when he sold 20,000 shares of the company’s stock at an average price of $143.18 per share on July 28th. This transaction yielded approximately $2,863,600 in total value. Following this sale, Bitzer now holds 138,583 shares valued at around $19,842,313.
Adding to this activity was James W. Peters, Whirlpool’s CFO who also sold 6,000 shares of the company’s stock at an average price of approximately $143.12 per share on the same day as the CEO’s sale. Peters now retains ownership of 40,764 shares valued at roughly $5,834,143.
These insider sales were disclosed through documents filed with the SEC and can be accessed via hyperlinks provided.
In terms of current market performance, Whirlpool stock opened at $132.05 on Tuesday and has fluctuated between a low of $124.10 and a high of $160.74 over the past twelve months.
The company boasts a current ratio of 0.87 and a quick ratio of 0.52, emphasizing its financial stability. Additionally, Whirlpool has a debt-to-equity ratio of 2.92.
As the market continues to observe developments at Whirlpool Corporation, it remains to be seen how these recent changes in ownership will impact the company’s overall trajectory and profitability moving forward.