Insider Selling: Wabtec (NYSE:WAB) Insider Sells $433,095.69 in Stock

Wabtec (NYSE:WAB) insider Rogerio Mendonca sold 2,019 shares of the business’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 completion of the transaction, the insider owned 9,516 shares of the company’s stock, valued at approximately $2,041,277.16. The trade was a 17.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wabtec Stock Performance

Shares of WAB opened at $214.71 on Monday. The company has a market cap of $36.71 billion, a price-to-earnings ratio of 31.21, a P/E/G ratio of 1.66 and a beta of 0.99. The business’s fifty day simple moving average is $201.73 and its two-hundred day simple moving average is $200.07. Wabtec has a 12 month low of $151.81 and a 12 month high of $216.10. 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 (NYSE:WAB) last announced its quarterly earnings results on Wednesday, October 22nd. The transportation company reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.28 by $0.04. Wabtec had a return on equity of 13.84% and a net margin of 10.94%.The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the prior year, the company posted $2.00 earnings per share. The company’s quarterly revenue was up 8.4% on a year-over-year basis. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. Research analysts anticipate that Wabtec will post 8.54 earnings per share for the current fiscal year.

Wabtec Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th were issued 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 was Wednesday, November 12th. Wabtec’s dividend payout ratio (DPR) is presently 14.53%.

Analysts Set New Price Targets

WAB has been the subject of several research reports. Susquehanna boosted their price objective on shares of Wabtec from $235.00 to $240.00 and gave the company a “positive” rating in a report on Thursday, October 23rd. Bank of America lifted their target price on shares of 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. boosted their target price on shares of Wabtec from $200.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Wells Fargo & Company assumed coverage on Wabtec in a research note on Thursday, November 13th. They issued an “equal weight” rating and a $221.00 price target on the stock. Finally, Citigroup upped their price objective on Wabtec from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, November 14th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Wabtec presently has an average rating of “Moderate Buy” and a consensus target price of $226.78.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Empowered Funds LLC grew its stake in shares of Wabtec by 240.8% during the 2nd quarter. Empowered Funds LLC now owns 15,924 shares of the transportation company’s stock valued at $3,334,000 after acquiring an additional 11,252 shares during the period. Mediolanum International Funds Ltd bought a new stake in Wabtec during the 2nd quarter worth approximately $8,201,000. Varenne Capital Partners lifted its holdings in Wabtec by 39.5% during the second quarter. Varenne Capital Partners now owns 277,078 shares of the transportation company’s stock valued at $58,006,000 after purchasing an additional 78,394 shares in the last quarter. Neuberger Berman Group LLC boosted its position in shares of Wabtec by 5.2% in the second quarter. Neuberger Berman Group LLC now owns 229,233 shares of the transportation company’s stock worth $47,990,000 after purchasing an additional 11,406 shares during the period. Finally, Quantbot Technologies LP bought a new position in shares of Wabtec in the second quarter worth approximately $9,371,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

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.