Verition Fund Management LLC Boosts Holdings in Wabash National Co. (NYSE:WNC)

Verition Fund Management LLC grew its holdings in Wabash National Co. (NYSE:WNC) by 39.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 64,249 shares of the company’s stock after purchasing an additional 18,203 shares during the quarter. Verition Fund Management LLC’s holdings in Wabash National were worth $1,233,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SummerHaven Investment Management LLC lifted its stake in Wabash National by 2.3% in the second quarter. SummerHaven Investment Management LLC now owns 31,310 shares of the company’s stock worth $684,000 after acquiring an additional 690 shares during the last quarter. Kendall Capital Management lifted its stake in Wabash National by 4.0% in the second quarter. Kendall Capital Management now owns 31,525 shares of the company’s stock worth $689,000 after acquiring an additional 1,200 shares during the last quarter. Kathleen S. Wright Associates Inc. purchased a new position in Wabash National in the third quarter worth approximately $27,000. Gladius Capital Management LP purchased a new position in Wabash National in the third quarter worth approximately $29,000. Finally, Innealta Capital LLC purchased a new position in Wabash National in the second quarter worth approximately $33,000. Hedge funds and other institutional investors own 97.05% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Wabash National Stock Performance

Shares of Wabash National stock opened at $19.31 on Friday. The firm’s fifty day simple moving average is $18.71 and its 200-day simple moving average is $19.89. The stock has a market capitalization of $836.90 million, a price-to-earnings ratio of -3.56 and a beta of 1.54. Wabash National Co. has a 12 month low of $15.94 and a 12 month high of $30.07. 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 (NYSE:WNC) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.04). The firm had revenue of $464.00 million during the quarter, compared to analyst estimates of $477.35 million. Wabash National had a negative net margin of 10.94% and a positive return on equity of 22.98%. The business’s quarterly revenue was down 26.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.16 earnings per share. As a group, equities analysts forecast that Wabash National Co. will post 1.29 earnings per share for the current year.

Wabash National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Thursday, January 9th will be paid a $0.08 dividend. The ex-dividend date is Thursday, January 9th. This represents a $0.32 dividend on an annualized basis and a yield of 1.66%. Wabash National’s payout ratio is -5.89%.

Wabash National Profile

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.