Texas Permanent School Fund Lowers Position in Whirlpool Corporation (WHR)

Texas Permanent School Fund reduced its stake in shares of Whirlpool Corporation (NYSE:WHR) by 4.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,784 shares of the company’s stock after selling 981 shares during the period. Texas Permanent School Fund’s holdings in Whirlpool Corporation were worth $3,983,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Kentucky Retirement Systems purchased a new stake in Whirlpool Corporation during the fourth quarter valued at $991,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Whirlpool Corporation during the fourth quarter valued at $442,000. Macquarie Group Ltd. increased its stake in Whirlpool Corporation by 72.0% in the fourth quarter. Macquarie Group Ltd. now owns 4,300 shares of the company’s stock valued at $782,000 after buying an additional 1,800 shares during the last quarter. Chevy Chase Trust Holdings Inc. increased its stake in Whirlpool Corporation by 2.6% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 65,116 shares of the company’s stock valued at $11,157,000 after buying an additional 1,631 shares during the last quarter. Finally, Cardinal Capital Management Inc. increased its stake in Whirlpool Corporation by 14.7% in the first quarter. Cardinal Capital Management Inc. now owns 3,900 shares of the company’s stock valued at $668,000 after buying an additional 500 shares in the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.

Shares of Whirlpool Corporation (NYSE WHR) traded down 0.29% during trading on Friday, hitting $171.24. The stock had a trading volume of 611,032 shares. The firm’s 50-day moving average is $186.34 and its 200-day moving average is $180.96. The firm has a market cap of $12.50 billion, a P/E ratio of 17.14 and a beta of 1.79. Whirlpool Corporation has a one year low of $145.91 and a one year high of $202.99.

Whirlpool Corporation (NYSE:WHR) last announced its earnings results on Wednesday, July 26th. The company reported $3.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.54 by $0.19. Whirlpool Corporation had a return on equity of 18.17% and a net margin of 3.61%. The firm had revenue of $5.35 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same period in the previous year, the firm earned $3.50 EPS. Whirlpool Corporation’s revenue for the quarter was up 2.9% on a year-over-year basis. Equities research analysts forecast that Whirlpool Corporation will post $14.63 EPS for the current year.

Whirlpool Corporation announced that its Board of Directors has approved a stock buyback program on Wednesday, July 26th that permits the company to buyback $2.35 billion in outstanding shares. This buyback authorization permits the company to buy up to 16.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.

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Several analysts have commented on WHR shares. Credit Suisse Group started coverage on Whirlpool Corporation in a research note on Thursday, June 22nd. They set a “neutral” rating and a $208.00 price objective for the company. Royal Bank Of Canada reaffirmed a “buy” rating and set a $216.00 price objective on shares of Whirlpool Corporation in a research note on Friday, June 2nd. BidaskClub downgraded Whirlpool Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, Zacks Investment Research downgraded Whirlpool Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Six analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $194.71.

In other news, Director William D. Perez bought 1,000 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The shares were purchased at an average price of $176.93 per share, with a total value of $176,930.00. Following the completion of the acquisition, the director now directly owns 7,239 shares in the company, valued at $1,280,796.27. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.69% of the stock is owned by insiders.

About Whirlpool Corporation

Whirlpool Corporation is a manufacturer and marketer of home appliances. The Company’s segments include North America; Europe, Middle East and Africa (EMEA); Latin America, and Asia. In North America, the Company markets and distributes home appliances and small domestic appliances under a range of brand names.

Institutional Ownership by Quarter for Whirlpool Corporation (NYSE:WHR)

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