292,733 Wabtec $WAB Shares Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA grew its position in Wabtec (NYSE:WAB) by 295.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 391,942 shares of the transportation company’s stock after purchasing an additional 292,733 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Wabtec were worth $112,578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Parallel Advisors LLC raised its position in shares of Wabtec by 8.4% during the 3rd quarter. Parallel Advisors LLC now owns 2,509 shares of the transportation company’s stock valued at $721,000 after purchasing an additional 194 shares during the period. Alps Advisors Inc. boosted its holdings in Wabtec by 111.3% in the 3rd quarter. Alps Advisors Inc. now owns 3,977 shares of the transportation company’s stock worth $1,142,000 after buying an additional 2,095 shares during the period. International Assets Investment Management LLC boosted its holdings in Wabtec by 41.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,261 shares of the transportation company’s stock worth $363,000 after buying an additional 368 shares during the period. Heritage Family Offices LLP boosted its holdings in Wabtec by 7.6% in the 3rd quarter. Heritage Family Offices LLP now owns 1,112 shares of the transportation company’s stock worth $319,000 after buying an additional 79 shares during the period. Finally, Alta Advisers Ltd purchased a new stake in Wabtec in the 3rd quarter worth $344,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. raised their price target on Wabtec from $315.00 to $320.00 and gave the company a “neutral” rating in a report on Monday, September 21st. KeyCorp boosted their price objective on Wabtec from $308.00 to $340.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Stephens upped their price objective on Wabtec from $330.00 to $340.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 21st. Morgan Stanley increased their target price on Wabtec from $318.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Finally, Citigroup reduced their price objective on shares of Wabtec from $338.00 to $334.00 and set a “buy” rating on the stock in a research report on Thursday, October 22nd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Wabtec currently has an average rating of “Moderate Buy” and a consensus target price of $320.18.

Insider Transactions at Wabtec

In related news, CEO Rafael Santana sold 1,087 shares of Wabtec stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $291.79, for a total transaction of $317,175.73. Following the completion of the sale, the chief executive officer owned 116,155 shares in the company, valued at $33,892,867.45. This trade represents a 0.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gregory Sbrocco sold 952 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $300.00, for a total transaction of $285,600.00. Following the completion of the sale, the executive vice president directly owned 21,043 shares of the company’s stock, valued at approximately $6,312,900. This trade represents a 4.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 5,289 shares of company stock worth $1,555,741. Insiders own 0.57% of the company’s stock.

Wabtec Stock Up 0.1%

Shares of WAB opened at $283.97 on Monday. Wabtec has a 52-week low of $194.93 and a 52-week high of $306.64. The company has a quick ratio of 0.56, a current ratio of 1.10 and a debt-to-equity ratio of 0.41. The business has a fifty day moving average of $284.49 and a 200 day moving average of $269.14. The company has a market cap of $47.65 billion, a PE ratio of 35.28, a P/E/G ratio of 1.59 and a beta of 0.93.

Wabtec (NYSE:WAB) last issued its quarterly earnings results on Wednesday, October 21st. The transportation company reported $2.83 EPS for the quarter, beating the consensus estimate of $2.73 by $0.10. The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.20 billion. Wabtec had a net margin of 11.20% and a return on equity of 15.72%. The firm’s revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.32 EPS. On average, sell-side analysts expect that Wabtec will post 10.97 EPS for the current year.

Wabtec Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, November 17th will be issued a $0.31 dividend. The ex-dividend date is Tuesday, November 17th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.4%. Wabtec’s dividend payout ratio is presently 15.40%.

About Wabtec

Wabtec Corporation (NYSE: WAB), also known as Westinghouse Air Brake Technologies, supplies equipment, systems and services for the freight rail and passenger transit industries. Its products include locomotives, braking and train control systems, propulsion equipment, and components designed to support rail safety and performance.

The company also provides aftermarket services, including maintenance, modernization, parts and digital solutions for rail operators. Its offerings serve freight railroads, transit agencies and other customers in the global rail industry.

Wabtec was formed in 1999 through the merger of Westinghouse Air Brake Company and MotivePower Industries, bringing together businesses with roots in rail equipment dating to the 19th century.