KBC Group NV Boosts Stock Holdings in Wabtec $WAB

KBC Group NV raised its stake in shares of Wabtec (NYSE:WAB) by 168.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 138,638 shares of the transportation company’s stock after purchasing an additional 87,037 shares during the period. KBC Group NV owned 0.08% of Wabtec worth $29,024,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. PFS Partners LLC grew its holdings in shares of Wabtec by 70.4% in the second quarter. PFS Partners LLC now owns 121 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 50 shares in the last quarter. Trust Co. of Vermont raised its stake in Wabtec by 44.2% during the second quarter. Trust Co. of Vermont now owns 163 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 50 shares in the last quarter. ST Germain D J Co. Inc. lifted its position in Wabtec by 30.2% during the second quarter. ST Germain D J Co. Inc. now owns 207 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 48 shares during the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of Wabtec in the 2nd quarter worth $44,000. Finally, NewSquare Capital LLC increased its holdings in shares of Wabtec by 125.3% in the 2nd quarter. NewSquare Capital LLC now owns 223 shares of the transportation company’s stock worth $47,000 after buying an additional 124 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Insider Buying and Selling

In other Wabtec news, EVP Gregory Sbrocco sold 2,424 shares of the stock in a transaction on Friday, October 31st. The stock was sold at an average price of $203.77, for a total transaction of $493,938.48. Following the sale, the executive vice president owned 15,405 shares of the company’s stock, valued at approximately $3,139,076.85. This trade represents a 13.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP David L. Deninno sold 2,100 shares of the business’s stock in a transaction on Tuesday, October 28th. The stock was sold at an average price of $199.87, for a total value of $419,727.00. Following the completion of the transaction, the vice president directly owned 60,450 shares of the company’s stock, valued at approximately $12,082,141.50. The trade was a 3.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 18,556 shares of company stock worth $3,685,311 in the last three months. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Susquehanna upped their price objective on Wabtec from $235.00 to $240.00 and gave the company a “positive” rating in a research report on Thursday, October 23rd. Wall Street Zen cut shares of Wabtec from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Citigroup started coverage on shares of Wabtec in a research report on Monday, September 22nd. They issued a “buy” rating and a $225.00 price objective on the stock. Bank of America boosted their target price on Wabtec from $228.00 to $233.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Wells Fargo & Company initiated coverage on Wabtec in a report on Thursday. They issued a “positive” rating and a $221.00 price target on the stock. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $224.56.

Wabtec Price Performance

Shares of WAB stock opened at $204.01 on Friday. The stock has a market capitalization of $34.88 billion, a price-to-earnings ratio of 29.65, a P/E/G 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 twelve month low of $151.81 and a twelve month high of $216.10. The stock has a fifty day simple moving average of $197.24 and a two-hundred day simple moving average of $198.90.

Wabtec (NYSE:WAB) last released its quarterly earnings data on Wednesday, October 22nd. The transportation company reported $2.32 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the previous year, the company posted $2.00 earnings per share. The firm’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. On average, analysts predict that Wabtec will post 8.54 EPS for the current fiscal year.

Wabtec Announces Dividend

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

Wabtec Company Profile

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.