Cornerstone Planning Group LLC Raises Stock Holdings in Wabtec $WAB

Cornerstone Planning Group LLC raised its stake in shares of Wabtec (NYSE:WAB) by 16,665.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 3,353 shares of the transportation company’s stock after purchasing an additional 3,333 shares during the quarter. Cornerstone Planning Group LLC’s holdings in Wabtec were worth $672,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the stock. Allianz Asset Management GmbH raised its holdings in shares of Wabtec by 8.2% during the third quarter. Allianz Asset Management GmbH now owns 87,595 shares of the transportation company’s stock valued at $17,560,000 after purchasing an additional 6,638 shares during the last quarter. Keeler Thomas Management LLC boosted its holdings in Wabtec by 1.5% in the third quarter. Keeler Thomas Management LLC now owns 6,889 shares of the transportation company’s stock worth $1,381,000 after purchasing an additional 104 shares during the last quarter. Jones Financial Companies Lllp grew its position in Wabtec by 22.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,583 shares of the transportation company’s stock worth $508,000 after purchasing an additional 467 shares during the period. Mediolanum International Funds Ltd grew its position in Wabtec by 59.2% in the 3rd quarter. Mediolanum International Funds Ltd now owns 62,868 shares of the transportation company’s stock worth $12,421,000 after purchasing an additional 23,379 shares during the period. Finally, Howard Capital Management Inc. raised its stake in Wabtec by 26.5% during the 3rd quarter. Howard Capital Management Inc. now owns 17,518 shares of the transportation company’s stock valued at $3,512,000 after buying an additional 3,665 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on WAB. Susquehanna raised their price target on Wabtec from $240.00 to $280.00 and gave the stock a “positive” rating in a research note on Monday, January 26th. Weiss Ratings reissued a “buy (b)” rating on shares of Wabtec in a report on Wednesday, January 21st. Bank of America raised their target price on Wabtec from $228.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. JPMorgan Chase & Co. upped their price target on shares of Wabtec from $215.00 to $245.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Finally, Morgan Stanley increased their price objective on shares of Wabtec from $257.00 to $264.00 and gave the stock an “overweight” rating in a research note on Monday, January 12th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Wabtec currently has an average rating of “Moderate Buy” and a consensus target price of $241.00.

Wabtec Stock Performance

NYSE:WAB opened at $233.81 on Tuesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.75 and a current ratio of 1.42. The stock has a 50-day simple moving average of $219.77 and a two-hundred day simple moving average of $204.65. The firm has a market capitalization of $39.97 billion, a PE ratio of 33.98, a P/E/G ratio of 1.57 and a beta of 1.00. Wabtec has a 52-week low of $151.81 and a 52-week high of $236.00.

Insider Activity at Wabtec

In related news, insider Pascal Schweitzer sold 3,000 shares of the stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $208.07, for a total value of $624,210.00. Following the completion of the sale, the insider directly owned 4,955 shares of the company’s stock, valued at approximately $1,030,986.85. This represents a 37.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Rogerio Mendonca sold 2,019 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $214.51, for a total transaction of $433,095.69. Following the sale, the insider owned 9,516 shares in the company, valued at approximately $2,041,277.16. The trade was a 17.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 24,641 shares of company stock worth $5,233,559 in the last quarter. 1.10% of the stock is currently owned by insiders.

Wabtec Profile

Wabtec Corporation (Westinghouse Air Brake Technologies Corporation) is a global provider of equipment, systems and services for the rail industry. The company supplies products and solutions to freight railroads, transit agencies and other industrial operators, focusing on technologies that improve the performance, safety and efficiency of locomotives and rail networks. Wabtec’s business spans new equipment manufacturing, aftermarket parts and services, and digital and control systems for rail operations.

Product and service offerings include locomotive systems and components, braking and air systems, propulsion and traction equipment, signaling and control technologies, and a range of aftermarket services such as maintenance, remanufacturing, parts distribution and fleet modernization.