Leith Wheeler Investment Counsel Ltd. purchased a new position in BorgWarner Inc. (NYSE:BWA - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,011,831 shares of the auto parts company's stock, valued at approximately $28,989,000. BorgWarner comprises about 2.0% of Leith Wheeler Investment Counsel Ltd.'s portfolio, making the stock its 15th biggest position. Leith Wheeler Investment Counsel Ltd. owned approximately 0.46% of BorgWarner as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in BWA. Envestnet Asset Management Inc. lifted its stake in BorgWarner by 40.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 275,049 shares of the auto parts company's stock worth $8,744,000 after acquiring an additional 79,022 shares during the last quarter. Raymond James Financial Inc. purchased a new position in BorgWarner in the fourth quarter worth approximately $3,860,000. Bessemer Group Inc. lifted its stake in BorgWarner by 2.7% in the fourth quarter. Bessemer Group Inc. now owns 41,404 shares of the auto parts company's stock worth $1,317,000 after acquiring an additional 1,087 shares during the last quarter. Sterling Capital Management LLC lifted its stake in BorgWarner by 45.4% in the fourth quarter. Sterling Capital Management LLC now owns 13,531 shares of the auto parts company's stock worth $430,000 after acquiring an additional 4,224 shares during the last quarter. Finally, Barclays PLC lifted its stake in BorgWarner by 13.6% in the fourth quarter. Barclays PLC now owns 503,809 shares of the auto parts company's stock worth $16,015,000 after acquiring an additional 60,333 shares during the last quarter. Hedge funds and other institutional investors own 95.67% of the company's stock.
Insiders Place Their Bets
In other news, VP Stefan Demmerle sold 15,000 shares of the company's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $39.31, for a total transaction of $589,650.00. Following the transaction, the vice president directly owned 234,040 shares of the company's stock, valued at $9,200,112.40. This represents a 6.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Isabelle Mckenzie sold 2,500 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $40.01, for a total transaction of $100,025.00. Following the completion of the sale, the vice president owned 55,945 shares in the company, valued at $2,238,359.45. This represents a 4.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,500 shares of company stock worth $892,175. Corporate insiders own 0.45% of the company's stock.
BorgWarner Stock Performance
BWA traded down $0.06 during trading on Friday, hitting $41.39. The stock had a trading volume of 2,596,299 shares, compared to its average volume of 2,250,007. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.66 and a current ratio of 2.02. The firm has a market capitalization of $8.96 billion, a P/E ratio of 44.03, a PEG ratio of 1.25 and a beta of 1.10. The company's 50-day moving average price is $35.58 and its 200 day moving average price is $31.71. BorgWarner Inc. has a twelve month low of $24.40 and a twelve month high of $41.67.
BorgWarner (NYSE:BWA - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The auto parts company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.15. BorgWarner had a net margin of 1.50% and a return on equity of 16.17%. The company had revenue of $3.64 billion for the quarter, compared to analysts' expectations of $3.56 billion. During the same period in the previous year, the company posted $1.19 EPS. BorgWarner's revenue was up 1.0% compared to the same quarter last year. On average, equities research analysts forecast that BorgWarner Inc. will post 4.28 EPS for the current fiscal year.
BorgWarner announced that its board has approved a stock repurchase program on Thursday, July 31st that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the auto parts company to repurchase up to 13.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.
BorgWarner Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.17 per share. This is a boost from BorgWarner's previous quarterly dividend of $0.11. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.6%. BorgWarner's dividend payout ratio is 46.81%.
Analyst Ratings Changes
Several brokerages have recently weighed in on BWA. Morgan Stanley boosted their price objective on shares of BorgWarner from $40.00 to $42.00 and gave the stock an "overweight" rating in a research report on Tuesday. Bank of America boosted their price objective on shares of BorgWarner from $35.00 to $41.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. Guggenheim reduced their price objective on shares of BorgWarner from $38.00 to $33.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. UBS Group boosted their price objective on shares of BorgWarner from $35.00 to $38.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. Finally, Evercore ISI boosted their price objective on shares of BorgWarner from $38.00 to $42.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $39.64.
Check Out Our Latest Stock Report on BorgWarner
About BorgWarner
(
Free Report)
BorgWarner Inc, together with its subsidiaries, provides solutions for combustion, hybrid, and electric vehicles worldwide. It offers turbochargers, eBoosters, eTurbos, timing systems, emissions systems, thermal systems, gasoline ignition technology, smart remote actuators, powertrain sensors, cabin heaters, battery modules and systems, battery heaters, and battery charging.
Further Reading
Before you consider BorgWarner, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and BorgWarner wasn't on the list.
While BorgWarner currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
MarketBeat All Access