Wedge Capital Management L L P NC Sells 5,638 Shares of Autoliv, Inc. $ALV

Key Points

• Wedge Capital Management L L P NC reduced its stake in Autoliv, Inc. by 5.1%, now holding 104,090 shares valued at approximately $11.65 million.
• A contingent of hedge funds has increased their positions in Autoliv, with notable investments including a 188.6% increase by UMB Bank n.a.
• Wall Street analysts express optimism with a consensus rating of "Moderate Buy" and an average target price of $122.92 for Autoliv shares.

Wedge Capital Management L L P NC lowered its stake in shares of Autoliv, Inc. (NYSE:ALV - Free Report) by 5.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 104,090 shares of the auto parts company's stock after selling 5,638 shares during the quarter. Wedge Capital Management L L P NC owned about 0.13% of Autoliv worth $11,648,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. SouthState Corp bought a new position in shares of Autoliv in the first quarter valued at $25,000. GAMMA Investing LLC grew its position in Autoliv by 122.9% during the 1st quarter. GAMMA Investing LLC now owns 370 shares of the auto parts company's stock worth $33,000 after acquiring an additional 204 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in Autoliv during the first quarter valued at $44,000. Signaturefd LLC grew its holdings in Autoliv by 63.4% during the first quarter. Signaturefd LLC now owns 678 shares of the auto parts company's stock valued at $60,000 after purchasing an additional 263 shares during the period. Finally, UMB Bank n.a. raised its holdings in shares of Autoliv by 188.6% in the first quarter. UMB Bank n.a. now owns 788 shares of the auto parts company's stock worth $70,000 after buying an additional 515 shares during the period. Institutional investors own 69.57% of the company's stock.

Autoliv Stock Down 0.7%

ALV stock traded down $0.94 during midday trading on Friday, reaching $125.72. 872,084 shares of the company's stock traded hands, compared to its average volume of 534,464. The company has a market cap of $9.66 billion, a price-to-earnings ratio of 13.75, a P/E/G ratio of 1.30 and a beta of 1.34. The firm's fifty day moving average price is $119.48 and its 200-day moving average price is $105.65. The company has a quick ratio of 0.70, a current ratio of 0.93 and a debt-to-equity ratio of 0.55. Autoliv, Inc. has a 52 week low of $75.49 and a 52 week high of $127.89.

Autoliv (NYSE:ALV - Get Free Report) last announced its earnings results on Friday, July 18th. The auto parts company reported $2.21 EPS for the quarter, beating analysts' consensus estimates of $2.07 by $0.14. The firm had revenue of $2.71 billion for the quarter, compared to analysts' expectations of $2.57 billion. Autoliv had a net margin of 6.83% and a return on equity of 30.73%. The company's quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.87 EPS. As a group, sell-side analysts forecast that Autoliv, Inc. will post 9.51 earnings per share for the current fiscal year.

Autoliv declared that its board has authorized a stock repurchase program on Wednesday, June 4th that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the auto parts company to reacquire up to 31.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

ALV has been the topic of several analyst reports. Royal Bank Of Canada began coverage on shares of Autoliv in a research report on Wednesday, June 25th. They set an "outperform" rating and a $133.00 price target on the stock. Robert W. Baird cut their target price on shares of Autoliv from $126.00 to $124.00 and set a "neutral" rating for the company in a research note on Monday, July 21st. Wall Street Zen upgraded shares of Autoliv from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 26th. Barclays reiterated an "overweight" rating and issued a $135.00 price objective (up from $105.00) on shares of Autoliv in a report on Wednesday, July 16th. Finally, Wells Fargo & Company increased their price target on Autoliv from $106.00 to $126.00 and gave the stock an "equal weight" rating in a report on Tuesday, September 9th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $122.92.

Autoliv Profile

Autoliv, Inc, through its subsidiaries, develops, manufactures, and supplies passive safety systems to the automotive industry in Europe, the Americas, China, Japan, and rest of Asia. It offers passive safety systems, including modules and components for frontal-impact airbag protection systems, side-impact airbag protection systems, seatbelts, steering wheels, and inflator technologies.