Bowen Hanes & Co. Inc. Makes New Investment in Wabtec $WAB

Bowen Hanes & Co. Inc. purchased a new stake in Wabtec (NYSE:WAB) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 1,000 shares of the transportation company’s stock, valued at approximately $209,000.

Other hedge funds have also bought and sold shares of the company. Stevens Capital Management LP bought a new stake in Wabtec in the 2nd quarter valued at about $299,000. Rhumbline Advisers boosted its stake in shares of Wabtec by 1.9% in the second quarter. Rhumbline Advisers now owns 319,469 shares of the transportation company’s stock valued at $66,881,000 after buying an additional 6,010 shares during the period. AXQ Capital LP bought a new stake in shares of Wabtec in the second quarter valued at approximately $760,000. Varenne Capital Partners grew its position in Wabtec by 39.5% during the second quarter. Varenne Capital Partners now owns 277,078 shares of the transportation company’s stock worth $58,006,000 after buying an additional 78,394 shares in the last quarter. Finally, Mediolanum International Funds Ltd bought a new position in Wabtec during the 2nd quarter worth $8,201,000. 91.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Wall Street Zen downgraded Wabtec from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Citigroup upped their price objective on shares of Wabtec from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. Susquehanna increased their price objective on shares of Wabtec from $235.00 to $240.00 and gave the stock a “positive” rating in a research note on Thursday, October 23rd. Wells Fargo & Company assumed coverage on shares of Wabtec in a research report on Thursday, November 13th. They issued an “equal weight” rating and a $221.00 target price for the company. Finally, Morgan Stanley upped their price target on shares of Wabtec from $220.00 to $226.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Wabtec presently has an average rating of “Moderate Buy” and a consensus price target of $226.78.

Insider Activity at Wabtec

In other news, CEO Rafael Santana sold 1,799 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $189.97, for a total value of $341,756.03. Following the completion of the transaction, the chief executive officer directly owned 136,729 shares in the company, valued at approximately $25,974,408.13. This represents a 1.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO John A. Mastalerz, Jr. sold 2,766 shares of the business’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $210.00, for a total value of $580,860.00. Following the sale, the chief accounting officer owned 5,286 shares in the company, valued at $1,110,060. This represents a 34.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 25,436 shares of company stock valued at $5,145,024. 1.10% of the stock is owned by company insiders.

Wabtec Stock Up 2.2%

Shares of NYSE WAB opened at $200.47 on Friday. The company has a market cap of $34.27 billion, a price-to-earnings ratio of 29.14, a PEG ratio of 1.55 and a beta of 1.09. The company has a current ratio of 1.42, a quick ratio of 0.75 and a debt-to-equity ratio of 0.45. Wabtec has a 12 month low of $151.81 and a 12 month high of $216.10. The stock has a 50-day moving average price of $198.27 and a two-hundred day moving average price of $199.41.

Wabtec (NYSE:WAB) last posted its quarterly earnings results on Wednesday, October 22nd. The transportation company reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.04. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.88 billion. Wabtec had a net margin of 10.94% and a return on equity of 13.84%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company posted $2.00 EPS. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. As a group, analysts forecast that Wabtec will post 8.54 earnings per share for the current fiscal year.

Wabtec Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, November 12th. Wabtec’s payout ratio is presently 14.53%.

About Wabtec

Westinghouse Air Brake Technologies Corporation, together with its subsidiaries, provides technology-based locomotives, equipment, systems, and services for the freight rail and passenger transit industries worldwide. It offers diesel-electric, battery, and liquid natural gas-powered locomotives; engines, electric motors, and propulsion systems; and marine and mining products.