Raymond James & Associates Reduces Stake in Wabash National Co. (NYSE:WNC)

Raymond James & Associates reduced its position in Wabash National Co. (NYSE:WNC) by 3.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 194,339 shares of the company’s stock after selling 7,695 shares during the period. Raymond James & Associates’ holdings in Wabash National were worth $3,729,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of WNC. Kathleen S. Wright Associates Inc. purchased a new position in shares of Wabash National in the 3rd quarter worth $27,000. Innealta Capital LLC purchased a new position in shares of Wabash National in the 2nd quarter worth $33,000. Point72 Hong Kong Ltd purchased a new position in shares of Wabash National in the 2nd quarter worth $34,000. CWM LLC boosted its stake in shares of Wabash National by 353.5% in the 2nd quarter. CWM LLC now owns 2,272 shares of the company’s stock worth $50,000 after buying an additional 1,771 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Wabash National in the 2nd quarter worth $66,000. 97.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, DA Davidson reiterated a “neutral” rating and set a $18.00 target price on shares of Wabash National in a research report on Monday, September 30th.

Wabash National Price Performance

NYSE WNC opened at $17.45 on Monday. The company has a market capitalization of $756.28 million, a PE ratio of -3.21 and a beta of 1.54. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.12 and a current ratio of 1.88. The business’s fifty day moving average is $18.64 and its 200 day moving average is $20.63. Wabash National Co. has a fifty-two week low of $15.94 and a fifty-two week high of $30.07.

Wabash National (NYSE:WNC) last released its earnings results on Thursday, October 24th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.04). The company had revenue of $464.00 million for the quarter, compared to analysts’ expectations of $477.35 million. Wabash National had a negative net margin of 10.94% and a positive return on equity of 22.98%. Wabash National’s revenue for the quarter was down 26.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.16 earnings per share. Sell-side analysts predict that Wabash National Co. will post 1.29 earnings per share for the current year.

Wabash National Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 10th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $0.32 annualized dividend and a yield of 1.83%. Wabash National’s dividend payout ratio (DPR) is presently -5.89%.

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.