Wabtec $WAB Stock Sold by Trillium Asset Management LLC

Trillium Asset Management LLC trimmed its position in shares of Wabtec (NYSE:WAB) by 12.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 111,839 shares of the transportation company’s stock after selling 16,412 shares during the period. Wabtec accounts for approximately 1.0% of Trillium Asset Management LLC’s portfolio, making the stock its 21st largest holding. Trillium Asset Management LLC’s holdings in Wabtec were worth $32,118,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Phoenix Financial Ltd. increased its holdings in Wabtec by 14.7% in the 3rd quarter. Phoenix Financial Ltd. now owns 2,113 shares of the transportation company’s stock valued at $607,000 after buying an additional 270 shares during the period. McKinney Capital Management LLC lifted its holdings in shares of Wabtec by 4.4% during the 3rd quarter. McKinney Capital Management LLC now owns 3,297 shares of the transportation company’s stock worth $947,000 after acquiring an additional 138 shares during the period. Shah Wealth Advisors LLC bought a new stake in shares of Wabtec during the 3rd quarter worth approximately $245,000. Cornerstone Advisors LLC lifted its holdings in shares of Wabtec by 28.8% during the 3rd quarter. Cornerstone Advisors LLC now owns 31,982 shares of the transportation company’s stock worth $9,185,000 after acquiring an additional 7,149 shares during the period. Finally, Aberdeen Group plc lifted its holdings in shares of Wabtec by 620.8% during the 3rd quarter. Aberdeen Group plc now owns 1,809,470 shares of the transportation company’s stock worth $519,644,000 after acquiring an additional 1,558,445 shares during the period. 91.69% of the stock is owned by institutional investors.

Wabtec Price Performance

Shares of Wabtec stock traded down $2.83 during midday trading on Friday, hitting $297.68. 809,997 shares of the company traded hands, compared to its average volume of 1,098,791. The firm’s fifty day moving average price is $286.21 and its 200-day moving average price is $270.87. The stock has a market cap of $49.95 billion, a price-to-earnings ratio of 36.98, a PEG ratio of 1.68 and a beta of 0.93. Wabtec has a 12 month low of $194.93 and a 12 month high of $307.96. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.56 and a current ratio of 1.10.

Wabtec (NYSE:WAB) last issued its quarterly earnings data 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 business had revenue of $3.12 billion during 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 quarter in the prior year, the firm earned $2.32 EPS. As a group, sell-side analysts forecast that Wabtec will post 10.97 earnings per share for the current year.

Wabtec Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Rothschild & Co Redburn reduced their price target on shares of Wabtec from $293.00 to $292.00 and set a “buy” rating on the stock in a research report on Wednesday, July 29th. Stephens raised their target price on Wabtec from $330.00 to $340.00 and gave the company an “overweight” rating in a report on Wednesday, October 21st. Weiss Ratings lowered Wabtec from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday. KeyCorp lifted their price target on Wabtec from $308.00 to $340.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Finally, Jefferies Financial Group boosted their price target on Wabtec from $315.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $328.90.

Insider Transactions at Wabtec

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

Wabtec Company Profile

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.