The Manitowoc Company, Inc. $MTW Shares Acquired by Royal Bank of Canada

Royal Bank of Canada lifted its holdings in shares of The Manitowoc Company, Inc. (NYSE:MTW) by 55.1% during the first quarter, HoldingsChannel.com reports. The fund owned 84,508 shares of the industrial products company’s stock after purchasing an additional 30,019 shares during the quarter. Royal Bank of Canada’s holdings in Manitowoc were worth $984,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of MTW. AQR Capital Management LLC increased its holdings in shares of Manitowoc by 19.0% in the 1st quarter. AQR Capital Management LLC now owns 290,452 shares of the industrial products company’s stock valued at $2,495,000 after acquiring an additional 46,324 shares during the period. Goldman Sachs Group Inc. boosted its stake in Manitowoc by 26.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 273,121 shares of the industrial products company’s stock worth $2,346,000 after purchasing an additional 56,336 shares during the period. Caxton Associates LLP purchased a new position in Manitowoc during the 1st quarter worth $112,000. Empowered Funds LLC grew its position in Manitowoc by 7.3% during the 1st quarter. Empowered Funds LLC now owns 190,140 shares of the industrial products company’s stock worth $1,633,000 after purchasing an additional 13,001 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Manitowoc by 49.4% in the second quarter. JPMorgan Chase & Co. now owns 364,915 shares of the industrial products company’s stock valued at $4,386,000 after purchasing an additional 120,658 shares during the period. 78.66% of the stock is currently owned by hedge funds and other institutional investors.

Manitowoc Stock Performance

Shares of MTW opened at $19.63 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.75 and a current ratio of 2.11. The stock has a market capitalization of $707.90 million, a P/E ratio of 35.69 and a beta of 1.72. The company’s fifty day moving average is $14.78 and its two-hundred day moving average is $13.58. The Manitowoc Company, Inc. has a 1 year low of $9.35 and a 1 year high of $21.34.

Manitowoc (NYSE:MTW) last released its earnings results on Thursday, August 6th. The industrial products company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.11 by $0.35. The company had revenue of $594.90 million during the quarter, compared to analysts’ expectations of $564.00 million. Manitowoc had a net margin of 0.87% and a return on equity of 3.86%. The business’s revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the business earned $0.08 EPS. Manitowoc has set its FY 2026 guidance at 0.800-1.200 EPS. On average, sell-side analysts predict that The Manitowoc Company, Inc. will post 0.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MTW. Barclays reaffirmed an “underweight” rating and issued a $16.00 target price (up from $11.00) on shares of Manitowoc in a report on Monday, August 10th. Wells Fargo & Company raised their price target on Manitowoc from $10.00 to $12.00 and gave the stock an “underweight” rating in a report on Thursday, August 13th. Weiss Ratings upgraded Manitowoc from a “sell (d+)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Finally, Wall Street Zen raised Manitowoc from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 16th. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Sell” and a consensus target price of $14.00.

Manitowoc Profile

The Manitowoc Company, Inc (NYSE: MTW) is a global manufacturer of heavy-lift cranes and lifting equipment. The company’s product portfolio includes tower cranes marketed under the Potain brand, mobile hydraulic cranes sold under the Grove, Manitowoc and National Crane names, and engineered lifting solutions such as mast climbers and platform hoists. Manitowoc serves a wide range of industries, including construction, infrastructure, energy and industrial markets.

Headquartered in Milwaukee, Wisconsin, Manitowoc operates manufacturing facilities, sales offices and rental centers across North America, Europe, Asia, Latin America and the Middle East.