Vaughan Nelson Investment Management L.P. Grows Holdings in Wabtec $WAB

Vaughan Nelson Investment Management L.P. raised its position in Wabtec (NYSE:WAB) by 70.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 221,911 shares of the transportation company’s stock after purchasing an additional 91,381 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Wabtec were worth $46,457,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WAB. ST Germain D J Co. Inc. lifted its holdings in shares of Wabtec by 30.2% during the 2nd quarter. ST Germain D J Co. Inc. now owns 207 shares of the transportation company’s stock worth $43,000 after acquiring an additional 48 shares during the period. PFS Partners LLC lifted its holdings in shares of Wabtec by 70.4% during the 2nd quarter. PFS Partners LLC now owns 121 shares of the transportation company’s stock worth $25,000 after acquiring an additional 50 shares during the period. Trust Co. of Vermont lifted its holdings in shares of Wabtec by 44.2% during the 2nd quarter. Trust Co. of Vermont now owns 163 shares of the transportation company’s stock worth $34,000 after acquiring an additional 50 shares during the period. UMB Bank n.a. lifted its holdings in shares of Wabtec by 22.2% during the 2nd quarter. UMB Bank n.a. now owns 358 shares of the transportation company’s stock worth $75,000 after acquiring an additional 65 shares during the period. Finally, CX Institutional lifted its holdings in shares of Wabtec by 6.3% during the 2nd quarter. CX Institutional now owns 1,478 shares of the transportation company’s stock worth $309,000 after acquiring an additional 87 shares during the period. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Wabtec

In other news, CEO Rafael Santana sold 1,798 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $189.63, for a total transaction of $340,954.74. Following the completion of the sale, the chief executive officer owned 134,931 shares of the company’s stock, valued at approximately $25,586,965.53. This trade represents a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 5,369 shares of company stock worth $1,042,586 over the last three months. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. KeyCorp reiterated an “overweight” rating and set a $240.00 price objective (up from $220.00) on shares of Wabtec in a report on Tuesday, June 24th. Susquehanna raised their price target on shares of Wabtec from $210.00 to $235.00 and gave the company a “positive” rating in a report on Friday, July 25th. Bank of America raised their price target on shares of Wabtec from $231.00 to $236.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. cut their price target on shares of Wabtec from $216.00 to $200.00 and set a “neutral” rating on the stock in a report on Thursday, August 14th. Finally, Citigroup started coverage on shares of Wabtec in a report on Monday, September 22nd. They issued a “buy” rating and a $225.00 price target on the stock. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $222.88.

Wabtec Stock Up 1.2%

WAB stock opened at $200.33 on Friday. Wabtec has a twelve month low of $151.81 and a twelve month high of $216.10. The company has a current ratio of 1.76, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $34.25 billion, a P/E ratio of 29.90, a PEG ratio of 1.53 and a beta of 1.10. The firm has a 50 day simple moving average of $192.46 and a 200-day simple moving average of $194.03.

Wabtec (NYSE:WAB) last released its quarterly earnings results on Thursday, July 24th. The transportation company reported $2.27 earnings per share for the quarter, topping analysts’ consensus estimates of $2.18 by $0.09. Wabtec had a net margin of 10.92% and a return on equity of 13.65%. The business had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter last year, the company earned $1.96 earnings per share. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. Wabtec has set its FY 2025 guidance at 8.550-9.150 EPS. On average, equities research analysts predict 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 Thursday, August 28th. Stockholders of record on Thursday, August 14th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. Wabtec’s dividend payout ratio (DPR) is presently 14.93%.

Wabtec 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.