Canada Pension Plan Investment Board Takes Position in Wabash National Co. (NYSE:WNC)

Canada Pension Plan Investment Board purchased a new position in Wabash National Co. (NYSE:WNC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,000 shares of the company’s stock, valued at approximately $66,000.

Several other institutional investors also recently added to or reduced their stakes in WNC. Franklin Resources Inc. boosted its stake in Wabash National by 1.5% in the fourth quarter. Franklin Resources Inc. now owns 34,277 shares of the company’s stock valued at $878,000 after acquiring an additional 510 shares during the last quarter. QRG Capital Management Inc. grew its holdings in Wabash National by 4.2% during the first quarter. QRG Capital Management Inc. now owns 14,910 shares of the company’s stock valued at $446,000 after purchasing an additional 606 shares during the period. ProShare Advisors LLC increased its position in Wabash National by 7.2% in the first quarter. ProShare Advisors LLC now owns 9,273 shares of the company’s stock worth $278,000 after buying an additional 624 shares during the last quarter. SummerHaven Investment Management LLC raised its stake in shares of Wabash National by 2.3% in the second quarter. SummerHaven Investment Management LLC now owns 31,310 shares of the company’s stock valued at $684,000 after buying an additional 690 shares during the period. Finally, Illinois Municipal Retirement Fund lifted its position in shares of Wabash National by 2.8% during the 1st quarter. Illinois Municipal Retirement Fund now owns 26,265 shares of the company’s stock valued at $786,000 after buying an additional 708 shares during the last quarter. Institutional investors own 97.05% of the company’s stock.

Wabash National Stock Up 1.1 %

WNC opened at $19.10 on Monday. The company has a 50 day moving average of $19.61 and a 200 day moving average of $22.42. The company has a current ratio of 1.99, a quick ratio of 1.15 and a debt-to-equity ratio of 0.72. Wabash National Co. has a 12 month low of $17.71 and a 12 month high of $30.07. The company has a market cap of $859.94 million, a PE ratio of 4.59 and a beta of 1.53.

Wabash National (NYSE:WNC) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.08. The company had revenue of $550.61 million during the quarter, compared to analysts’ expectations of $594.77 million. Wabash National had a return on equity of 28.24% and a net margin of 6.66%. The firm’s quarterly revenue was down 19.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.54 earnings per share. On average, sell-side analysts expect that Wabash National Co. will post 1.53 EPS for the current year.

Wabash National Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be given a $0.08 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.68%. Wabash National’s dividend payout ratio (DPR) is currently 7.69%.

Analysts Set New Price Targets

Separately, DA Davidson lowered their price objective on Wabash National from $23.00 to $18.00 and set a “neutral” rating on the stock in a research note on Monday, September 9th.

About Wabash National

Wabash National Corporation provides connected solutions for the transportation, logistics, and distribution industries primarily in the United States. The company operates through two segments, Transportation Solutions and Parts & Services. The Transportation Solutions segment designs and manufactures transportation-related equipment and products dry and refrigerated van trailers, platform trailers, tank trailers, and truck-mounted tanks; truck bodies for dry-freight transportation; cargo and cargo XL bodies for commercial applications; refrigerated truck bodies; platform truck bodies; and used trailers, as well as laminated hardwood oak flooring products.