PNC Financial Services Group Inc. Boosts Position in Wabtec $WAB

PNC Financial Services Group Inc. boosted its holdings in Wabtec (NYSE:WAB) by 0.3% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 530,508 shares of the transportation company’s stock after acquiring an additional 1,639 shares during the quarter. PNC Financial Services Group Inc. owned 0.31% of Wabtec worth $111,062,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. PFS Partners LLC lifted its stake in Wabtec by 70.4% during the second quarter. PFS Partners LLC now owns 121 shares of the transportation company’s stock worth $25,000 after purchasing an additional 50 shares during the last quarter. Trust Co. of Vermont boosted its position 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 buying an additional 50 shares during the period. ST Germain D J Co. Inc. grew its stake in shares of 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 buying an additional 48 shares during the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of Wabtec in the second quarter worth about $44,000. Finally, NewSquare Capital LLC lifted its stake in shares of Wabtec by 125.3% in the 2nd quarter. NewSquare Capital LLC now owns 223 shares of the transportation company’s stock valued at $47,000 after acquiring an additional 124 shares during the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wall Street Zen cut shares of Wabtec from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. JPMorgan Chase & Co. raised their price objective on shares of Wabtec from $200.00 to $215.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. Citigroup began coverage on Wabtec in a research report on Monday, September 22nd. They set a “buy” rating and a $225.00 price target on the stock. Morgan Stanley lifted their price target on shares of Wabtec from $220.00 to $226.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Finally, Susquehanna upped their price target on Wabtec from $235.00 to $240.00 and gave the stock a “positive” rating in a research note on Thursday, October 23rd. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $225.38.

Insider Activity

In other Wabtec news, EVP Gregory Sbrocco sold 2,424 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The shares were 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 in the company, valued at approximately $3,139,076.85. This trade represents a 13.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David L. Deninno sold 2,100 shares of the company’s stock in a transaction that occurred on Tuesday, October 28th. The stock was sold at an average price of $199.87, for a total transaction of $419,727.00. Following the completion of the transaction, the vice president 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 SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 18,556 shares of company stock valued at $3,685,311. 1.10% of the stock is owned by insiders.

Wabtec Stock Up 0.9%

WAB stock opened at $209.73 on Thursday. Wabtec has a 1-year low of $151.81 and a 1-year high of $216.10. The business has a fifty day moving average price of $197.04 and a 200-day moving average price of $198.86. The stock has a market capitalization of $35.85 billion, a P/E ratio of 30.48, a P/E/G ratio of 1.55 and a beta of 1.09. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.75.

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 net margin of 10.94% and a return on equity of 13.84%. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter last year, the firm posted $2.00 EPS. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. Equities analysts forecast that Wabtec will post 8.54 earnings per share for the current fiscal year.

Wabtec Announces Dividend

The business 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 dividend of $0.25 per share. The ex-dividend date is Wednesday, November 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. Wabtec’s payout ratio is 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.