Royal Bank of Canada Increases Position in The Manitowoc Company, Inc. $MTW

Royal Bank of Canada grew its position in The Manitowoc Company, Inc. (NYSE:MTW) by 55.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 owned approximately 0.24% of Manitowoc worth $984,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Garner Asset Management Corp acquired a new position in shares of Manitowoc during the fourth quarter worth $36,000. Tower Research Capital LLC TRC raised its stake in Manitowoc by 131.0% in the second quarter. Tower Research Capital LLC TRC now owns 4,541 shares of the industrial products company’s stock valued at $55,000 after buying an additional 2,575 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Manitowoc during the 3rd quarter worth about $47,000. State of Wyoming purchased a new stake in Manitowoc during the 1st quarter worth about $62,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Manitowoc during the 2nd quarter worth about $84,000. 78.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Manitowoc Price Performance

Shares of NYSE:MTW opened at $19.63 on Friday. The Manitowoc Company, Inc. has a 12 month low of $9.35 and a 12 month high of $21.34. The firm has a market capitalization of $707.90 million, a P/E ratio of 35.69 and a beta of 1.72. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.11 and a quick ratio of 0.75. The company’s fifty day moving average price is $14.78 and its 200 day moving average price is $13.58.

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

Manitowoc Company 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.