Principal Financial Group Inc. Sells 46,557 Shares of Wabash National Co. (NYSE:WNC)

Principal Financial Group Inc. cut its holdings in Wabash National Co. (NYSE:WNC) by 18.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 207,433 shares of the company’s stock after selling 46,557 shares during the period. Principal Financial Group Inc.’s holdings in Wabash National were worth $3,981,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. grew its position in Wabash National by 40.0% during the 2nd quarter. Victory Capital Management Inc. now owns 1,015,355 shares of the company’s stock worth $22,175,000 after acquiring an additional 290,287 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Wabash National by 1,311.6% in the second quarter. Millennium Management LLC now owns 279,900 shares of the company’s stock worth $6,113,000 after purchasing an additional 260,072 shares during the last quarter. American Century Companies Inc. grew its holdings in Wabash National by 19.7% in the 2nd quarter. American Century Companies Inc. now owns 1,095,915 shares of the company’s stock worth $23,935,000 after acquiring an additional 180,080 shares during the last quarter. CX Institutional bought a new position in Wabash National during the 3rd quarter valued at approximately $2,322,000. Finally, LSV Asset Management raised its holdings in shares of Wabash National by 8.6% during the second quarter. LSV Asset Management now owns 1,260,183 shares of the company’s stock valued at $27,522,000 after acquiring an additional 99,700 shares in the last quarter. 97.05% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Wabash National Stock Up 2.3 %

WNC stock opened at $18.87 on Friday. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.88 and a quick ratio of 1.12. Wabash National Co. has a 1-year low of $15.94 and a 1-year high of $30.07. The stock has a market capitalization of $817.83 million, a P/E ratio of -3.40 and a beta of 1.54. The business has a fifty day moving average price of $18.64 and a 200-day moving average price of $20.18.

Wabash National (NYSE:WNC) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.04). The company had revenue of $464.00 million during the quarter, compared to analysts’ expectations of $477.35 million. Wabash National had a positive return on equity of 22.98% and a negative net margin of 10.94%. The business’s quarterly revenue was down 26.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.16 EPS. Equities analysts forecast that Wabash National Co. will post 1.29 earnings per share for the current fiscal year.

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.