Bank of Nova Scotia Sells 2,639 Shares of Whirlpool Co. (NYSE:WHR)

Bank of Nova Scotia reduced its position in shares of Whirlpool Co. (NYSE:WHRGet Rating) by 34.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,073 shares of the company’s stock after selling 2,639 shares during the period. Bank of Nova Scotia’s holdings in Whirlpool were worth $785,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in shares of Whirlpool by 10.3% during the 2nd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 1,920 shares of the company’s stock worth $297,000 after buying an additional 179 shares during the period. Kentucky Retirement Systems boosted its holdings in shares of Whirlpool by 10.9% during the 2nd quarter. Kentucky Retirement Systems now owns 4,171 shares of the company’s stock worth $646,000 after buying an additional 410 shares during the period. Jones Financial Companies Lllp bought a new stake in shares of Whirlpool during the 2nd quarter worth $31,000. State of Michigan Retirement System raised its stake in Whirlpool by 2.4% during the 2nd quarter. State of Michigan Retirement System now owns 21,177 shares of the company’s stock valued at $3,280,000 after purchasing an additional 500 shares during the last quarter. Finally, ING Groep NV raised its stake in Whirlpool by 677.1% during the 2nd quarter. ING Groep NV now owns 10,576 shares of the company’s stock valued at $1,638,000 after purchasing an additional 9,215 shares during the last quarter. 96.37% of the stock is owned by institutional investors.

Whirlpool Trading Down 0.3 %

Shares of WHR stock opened at $147.42 on Friday. The firm has a fifty day moving average of $141.55 and a 200-day moving average of $158.39. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.74 and a current ratio of 1.16. Whirlpool Co. has a 52-week low of $124.43 and a 52-week high of $245.44. The stock has a market cap of $8.03 billion, a price-to-earnings ratio of 23.74, a P/E/G ratio of 1.51 and a beta of 1.52.

Whirlpool (NYSE:WHRGet Rating) last posted its earnings results on Friday, October 21st. The company reported $4.49 earnings per share for the quarter, missing the consensus estimate of $5.76 by ($1.27). Whirlpool had a return on equity of 27.65% and a net margin of 1.86%. The firm had revenue of $4.78 billion during the quarter, compared to the consensus estimate of $5.15 billion. During the same period in the previous year, the company posted $6.68 EPS. The firm’s revenue for the quarter was down 12.8% compared to the same quarter last year. On average, equities research analysts forecast that Whirlpool Co. will post 19.19 earnings per share for the current fiscal year.

Whirlpool Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Friday, November 18th will be issued a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 4.75%. The ex-dividend date of this dividend is Thursday, November 17th. Whirlpool’s payout ratio is 112.72%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Bank of America cut shares of Whirlpool from a “neutral” rating to an “underperform” rating and cut their target price for the company from $155.00 to $119.00 in a research note on Wednesday, October 26th. TheStreet cut shares of Whirlpool from a “b” rating to a “c+” rating in a research note on Monday, July 25th. Credit Suisse Group cut their target price on shares of Whirlpool to $157.00 in a research note on Thursday, October 20th. StockNews.com assumed coverage on shares of Whirlpool in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $160.00 price objective on shares of Whirlpool in a research note on Thursday. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $167.00.

Whirlpool Company Profile

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Whirlpool Corporation manufactures and markets home appliances and related products. It operates through four segments: North America; Europe, Middle East and Africa; Latin America; and Asia. The company's principal products include refrigerators, freezers, ice makers, and refrigerator water filters; laundry appliances and related laundry accessories; cooking and other small domestic appliances; and dishwasher appliances and related accessories, as well as mixers.

Further Reading

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Institutional Ownership by Quarter for Whirlpool (NYSE:WHR)

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