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Steve Mandel Increases His Shares in Wabco Holdings by 212.83%

June 23, 2011 | About:
Steve Mandel increased his position in Wabco Holdings (WBC) by 212.83% at the average price of $63.81 on 06/08/2011, as reported in his latest 13G filings. He owns 4,058,927 shares. The stock price has changed by 4% since his purchase. WABCO is one of the world's providers of electronic braking, stability, suspension and transmission control systems for heavy duty commercial vehicles. The company has a market cap of $4.5 billion; its shares were traded at around $66.35 with a P/E ratio of 19.6 and P/S ratio of 2.1.

Joel Greenblatt bought 9,029 shares in the quarter that ended on 03/31/2011, which is 0.17% of the $333 million portfolio of Gotham Capital. George Soros owns 205,249 shares as of 03/31/2011, an increase of 3810.25% from the previous quarter. This position accounts for 0.1971% of the $6.42 billion portfolio of Soros Fund Management LLC. John Keeley owns 53,490 shares as of 03/31/2011, an increase of 17.02% from the previous quarter. This position accounts for 0.05% of the $6.54 billion portfolio of Keeley Fund Management. NWQ Managers owns 43,924 shares as of 03/31/2011, a decrease of 62.13% of from the previous quarter. This position accounts for 0.01% of the $20.84 billion portfolio of NWQ Investment Management Co. Mario Gabelli sold out his holdings in the quarter that ended on 03/31/2011. Ken Heebner sold out his holdings in the quarter that ended on 03/31/2011.

Chairman of the Board and CEO Jacques Esculier sold 159,346 shares of WBC stock on 05/03/2011 at the average price of 72.68. Jacques Esculier owns at least 127,202 shares after this. The price of the stock has decreased by 8.71% since. Senior Vice President and CFO Ulrich Michel sold 2,700 shares of WBC stock on 05/19/2011 at the average price of 71.85. Ulrich Michel owns at least 40,501 shares after this. The price of the stock has decreased by 7.65% since. Other insiders have also decreased their positions in the company.

Wabco Holdings recently reported Q1 2011 sales of $678 million, up 36% in local currencies from a year ago and up 38% on a U.S. GAAP basis, reflecting an industry that continues to rebound globally. WBC announced Q1 2011 performance operating income of $90.2 million, up from $44.5 million a year ago, while operating income was $88.1 million on a U.S. GAAP basis, up from $43.1 million a year ago.

"Q1 2011 marked another milestone of outstanding results as we substantially grew sales by 36 percent in local currencies while at the same time delivering an incremental operating profit margin at the robust level of 26 percent, thus breaking new ground in profitability," said Jacques Esculier, WABCO Chairman and Chief Executive Officer. "Our first quarter results are in line with WABCO's strongly rising performance throughout 2010 as we continue to demonstrate our ability to grow revenues, gain productivity and deliver remarkable incremental profitability."


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