In a surprising move, Hanson & Doremus Investment Management has decided to decrease its position in shares of Whirlpool Co. by 23.3% during the first quarter of this year. This decision was made evident through their recent disclosure with the Securities & Exchange Commission. The institutional investor now holds 5,612 shares of the company’s stock, having sold 1,708 shares during the quarter. At the end of the most recent quarter, Hanson & Doremus Investment Management’s holdings in Whirlpool were valued at $741,000.
To add more intrigue to this development, Whirlpool also announced a quarterly dividend which was paid on June 15th. Shareholders who had registered by May 19th were rewarded with a dividend of $1.75 per share. This amounts to an annualized dividend payout of $7.00 and a yield of 4.77%. It is interesting to note that Whirlpool’s payout ratio currently stands at -19.10%.
The investment community has been buzzing about WHR recently as there have been several research reports released on the company. StockNews.com initiated coverage on Whirlpool in a report published on May 18th where they set a “hold” rating for the company. Meanwhile, The Goldman Sachs Group raised Whirlpool from a “neutral” rating to a “buy” rating but decreased their price objective for the stock from $170.00 to $160.00 in an April 11th report.
These divergent opinions have added to the overall perplexity surrounding Whirlpool’s current situation and future prospects within the market. With two analysts issuing sell ratings, three adopting hold ratings, and one giving it a buy rating, it seems that there is no clear consensus among experts regarding how investors should perceive Whirlpool at this time.
It is worth noting that according to data from Bloomberg.com, the average rating for Whirlpool is currently labeled as “Hold” with an average target price of $136.80.
The recent actions taken by Hanson & Doremus Investment Management in reducing its shares, combined with the various research reports and ratings bestowed upon Whirlpool, have undoubtedly captivated investors and market participants alike. As a result, Whirlpool finds itself immersed in a state of dynamic uncertainty, rendering further analysis and speculation necessary to gain a comprehensive understanding of the company’s trajectory moving forward.
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Institutional Investors and Hedge Funds Show Interest in Whirlpool Co. as Stock Ownership Trends Shift
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”WHR” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]Whirlpool Co., a leading home appliance manufacturer, has seen activity from several institutional investors and hedge funds with regards to their shares in the company. One notable investor, Trilogy Capital Inc., recently purchased a new position in Whirlpool during the first quarter of this year, amounting to approximately $2,161,000 in value. Similarly, Viking Fund Management LLC increased its holdings in the company by 28.6%, now owning 27,000 shares valued at $3,565,000 after acquiring an additional 6,000 shares.
Dakota Wealth Management also made moves in Whirlpool’s stock during the same period by purchasing a new position worth around $3,049,000. Raymond James Financial Services Advisors Inc. expanded its holdings in the company by 5.4%, currently possessing 13,056 shares valued at $1,724,000 after adding another 664 shares to its portfolio. Finally, Raymond James & Associates augmented its own holdings by 3.5% during the first quarter and currently owns 75,205 shares valued at $9,929,000 after acquiring an additional 2,511 shares.
When it comes to ownership of Whirlpool stocks overall among institutional investors and hedge funds collectively hold approximately 89.04% of the company’s stock.
In other news surrounding Whirlpool Co., Executive Vice President Juan Carlos Puente sold off 420 shares of the stock back on May 26th at an average price of $134.16 per share or a total transaction amounting to $56,347.20. Following this sale transaction completion as disclosed through an SEC filing accessible on their website , Puente directly holds about 17,699 shares which are valued approximately at $2,374497.84.
Additionally noteworthy is that Whirlpool has recently announced its quarterly dividend which was paid out on June15th . Shareholders who were on record as of May 19th received a dividend of $1.75 per share. On an annualized basis, this represents a total dividend of $7.00, resulting in a yield of 4.77%. It is important to note that the ex-dividend date for this payment was on May 18th. As it stands, Whirlpool’s payout ratio currently stands at -19.10%.
As for the stock market situation, shares of WHR were trading at $146.63 on Thursday when the stock opened.Throughout the past year,the company has observed fluctuations in its stock prices from a low of $124.10 to a high of $178.05 and its average moving averages stand at $137.92 for 50 days and at $140.05 for 200 days over the same period.
In terms of financial performance, Whirlpool released its quarterly earnings results on April 24th where it announced that it exceeded analysts’ expectations by reporting earning per share (EPS) at $2.66.The consensus forecast was pegged at just around $2.14,thus beating it by an impressive margin of an additional $.52 per share.” During this particular quarter,Whirlpool generated revenue amounting to approximately$4.65 billion as compared to analysts’ estimated revenues which came in lower at around$4.50 billion.In tandem with these sound earning results, Whirlpool had exhibited positive returns on equity standing tall above average rates reaching about28.28% impressively even though their net margins were still under pressure with -10-34 % which shows they’re experiencing profound financial inflection points through cost optimization programs implemented lately,residential appliances offering trends overweighting air/filtration systems alternatively diluting profitability.
Looking ahead into its future prospects,sell-side analysts anticipate that Whirlpool will deliver solid earnings performance closing revenue streams above mainstream sectors growth within their anniversary earning outlooks vis-a-vis $16.42 earnings per share for the current fiscal year.This would allow WHR to deliver strong results , despite uncertainty prevailing over the future of home appliances industry as grappling with current electronic shortages is casting shadows over some of its key performance indicators.
In conclusion, Whirlpool Co. has been receiving significant attention from institutional investors and hedge funds who have been actively buying and selling shares of the company’s stock. The recent moves made by Trilogy Capital Inc., Viking Fund Management LLC, Dakota Wealth Management, Raymond James Financial Services Advisors Inc., and Raymond James & Associates have undoubtedly influenced stock ownership within Whirlpool. Furthermore, the sale of shares by EVP Juan Carlos Puente and the announcement of a quarterly dividend highlight the ongoing developments within the organization. With robust financial results and positive returns on equity, Whirlpool emerges as a strong contender in the competitive home appliance market.
