State of Michigan Retirement System Has $10.47 Million Stake in Wabtec $WAB

State of Michigan Retirement System grew its holdings in Wabtec (NYSE:WAB) by 1.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,016 shares of the transportation company’s stock after buying an additional 500 shares during the period. State of Michigan Retirement System’s holdings in Wabtec were worth $10,471,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Gilbert & Cook Inc. increased its stake in shares of Wabtec by 2.6% during the second quarter. Gilbert & Cook Inc. now owns 3,103 shares of the transportation company’s stock worth $650,000 after purchasing an additional 79 shares during the period. Lifeworks Advisors LLC increased its stake in shares of Wabtec by 14.4% during the second quarter. Lifeworks Advisors LLC now owns 18,229 shares of the transportation company’s stock worth $3,816,000 after purchasing an additional 2,296 shares during the period. Haven Private LLC bought a new position in shares of Wabtec during the second quarter worth approximately $279,000. Putney Financial Group LLC increased its stake in shares of Wabtec by 79.3% during the second quarter. Putney Financial Group LLC now owns 493 shares of the transportation company’s stock worth $103,000 after purchasing an additional 218 shares during the period. Finally, Simon Quick Advisors LLC increased its stake in shares of Wabtec by 10.1% during the second quarter. Simon Quick Advisors LLC now owns 6,687 shares of the transportation company’s stock worth $1,400,000 after purchasing an additional 613 shares during the period. 91.69% of the stock is owned by institutional investors and hedge funds.

Wabtec Trading Up 0.3%

Shares of WAB stock opened at $204.96 on Tuesday. The stock’s fifty day moving average price is $195.20 and its two-hundred day moving average price is $197.54. The company has a market cap of $35.04 billion, a PE ratio of 29.79, a P/E/G ratio of 1.55 and a beta of 1.10. Wabtec has a fifty-two week low of $151.81 and a fifty-two week high of $216.10. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.75 and a current ratio of 1.42.

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

Wabtec Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th will be issued a $0.25 dividend. 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 dividend payout ratio (DPR) is currently 14.53%.

Insider Buying and Selling at Wabtec

In related news, EVP Gregory Sbrocco sold 2,424 shares of the firm’s 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 $3,139,076.85. This trade represents a 13.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Rafael Santana sold 1,798 shares of the firm’s stock in a transaction on Tuesday, October 14th. The shares were sold at an average price of $195.04, for a total value of $350,681.92. Following the sale, the chief executive officer directly owned 133,133 shares in the company, valued at approximately $25,966,260.32. This trade represents a 1.33% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 13,758 shares of company stock valued at $2,695,010. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

WAB has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their target price on Wabtec from $200.00 to $215.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. Citigroup initiated coverage on Wabtec in a research note on Monday, September 22nd. They set a “buy” rating and a $225.00 price objective on the stock. Wall Street Zen lowered Wabtec from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Morgan Stanley raised their price objective on Wabtec from $220.00 to $226.00 and gave the stock an “overweight” rating in a research note on Monday, July 28th. Finally, Susquehanna raised their price objective on Wabtec from $235.00 to $240.00 and gave the stock a “positive” rating in a research note on Thursday, October 23rd. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Wabtec currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.38.

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.