Nuveen LLC Makes New Investment in Whirlpool Corporation $WHR

Key Points

• Nuveen LLC has acquired a new position in Whirlpool Corporation, purchasing 914,915 shares valued at approximately $82.46 million, representing about 1.65% of the company's stock.
• Whirlpool's recent earnings report showed earnings per share of $1.34, falling short of analysts' estimates of $1.54, alongside a 5.4% decline in quarterly revenue compared to the previous year.
• Wall Street analysts have mixed views on Whirlpool, with recent ratings ranging from a buy to a sell, and a consensus target price of $98.83 for the stock.

Nuveen LLC purchased a new stake in Whirlpool Corporation (NYSE:WHR - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 914,915 shares of the company's stock, valued at approximately $82,461,000. Nuveen LLC owned 1.65% of Whirlpool at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Invesco Ltd. raised its position in shares of Whirlpool by 1.9% during the 4th quarter. Invesco Ltd. now owns 214,704 shares of the company's stock valued at $24,579,000 after buying an additional 3,930 shares in the last quarter. Renaissance Technologies LLC raised its position in Whirlpool by 367.0% during the fourth quarter. Renaissance Technologies LLC now owns 72,657 shares of the company's stock valued at $8,318,000 after purchasing an additional 57,100 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Whirlpool during the fourth quarter worth about $34,719,000. Treasurer of the State of North Carolina boosted its holdings in shares of Whirlpool by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 23,260 shares of the company's stock worth $2,663,000 after purchasing an additional 140 shares in the last quarter. Finally, Sterling Capital Management LLC increased its position in shares of Whirlpool by 56.7% during the 4th quarter. Sterling Capital Management LLC now owns 3,161 shares of the company's stock valued at $362,000 after purchasing an additional 1,144 shares during the last quarter. 90.78% of the stock is currently owned by hedge funds and other institutional investors.

Whirlpool Trading Up 0.1%

Shares of NYSE WHR traded up $0.11 during trading hours on Monday, hitting $88.24. The company's stock had a trading volume of 613,436 shares, compared to its average volume of 1,342,610. Whirlpool Corporation has a 12 month low of $73.72 and a 12 month high of $135.49. The stock has a market cap of $4.93 billion, a price-to-earnings ratio of -33.30 and a beta of 1.17. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.46 and a current ratio of 0.85. The business has a 50-day simple moving average of $94.38 and a 200-day simple moving average of $90.37.

Whirlpool (NYSE:WHR - Get Free Report) last posted its earnings results on Monday, July 28th. The company reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.54 by ($0.20). The business had revenue of $3.77 billion for the quarter, compared to analysts' expectations of $3.88 billion. Whirlpool had a negative net margin of 0.95% and a positive return on equity of 20.81%. Whirlpool's quarterly revenue was down 5.4% on a year-over-year basis. During the same period last year, the firm posted $2.39 earnings per share. On average, analysts anticipate that Whirlpool Corporation will post 9.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on WHR. Wall Street Zen cut shares of Whirlpool from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Royal Bank Of Canada cut their price target on shares of Whirlpool from $65.00 to $63.00 and set an "underperform" rating for the company in a research report on Wednesday, July 30th. Loop Capital reaffirmed a "hold" rating and set a $88.00 price objective on shares of Whirlpool in a research note on Monday, August 4th. Bank of America reissued an "underperform" rating and issued a $70.00 target price (down previously from $100.00) on shares of Whirlpool in a research note on Tuesday, July 29th. Finally, JPMorgan Chase & Co. reduced their price target on Whirlpool from $109.00 to $89.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $98.83.

About Whirlpool

Whirlpool Corporation manufactures and markets home appliances and related products and services in the North America, Europe, the Middle East, Africa, Latin America, and Asia. The company's principal products include refrigerators, freezers, ice makers, and refrigerator water filters; laundry appliances, and commercial laundry products and related laundry accessories; cooking and other small domestic appliances; and dishwasher appliances and related accessories, as well as mixers.