Wabtec (NYSE:WAB) VP Sells $1,073,100.00 in Stock

Wabtec (NYSE:WAB) VP David Deninno sold 5,000 shares of Wabtec stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $214.62, for a total value of $1,073,100.00. Following the sale, the vice president directly owned 50,450 shares of the company’s stock, valued at approximately $10,827,579. This represents a 9.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Wabtec Stock Performance

Shares of WAB stock traded down $0.34 during mid-day trading on Friday, reaching $213.70. The stock had a trading volume of 133,055 shares, compared to its average volume of 1,043,071. The business’s fifty day moving average is $201.37 and its 200-day moving average is $200.05. The company has a current ratio of 1.42, a quick ratio of 0.75 and a debt-to-equity ratio of 0.45. The firm has a market cap of $36.53 billion, a price-to-earnings ratio of 31.06, a PEG ratio of 1.65 and a beta of 0.99. Wabtec has a 1-year low of $151.81 and a 1-year high of $216.10.

Wabtec (NYSE:WAB) last released its earnings results on Wednesday, October 22nd. The transportation company reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $2.28 by $0.04. The firm had revenue of $2.89 billion during 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 in the previous year, the company posted $2.00 earnings per share. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. On average, research analysts forecast that Wabtec will post 8.54 earnings per share for the current year.

Wabtec Dividend Announcement

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

Hedge Funds Weigh In On Wabtec

Institutional investors and hedge funds have recently modified their holdings of the business. Allworth Financial LP raised its holdings in Wabtec by 35.6% in the 3rd quarter. Allworth Financial LP now owns 2,308 shares of the transportation company’s stock worth $463,000 after purchasing an additional 606 shares during the period. Groupama Asset Managment grew its holdings in Wabtec by 73.2% in the third quarter. Groupama Asset Managment now owns 14,323 shares of the transportation company’s stock valued at $2,871,000 after purchasing an additional 6,055 shares during the period. Investment Research Partners LLC purchased a new stake in shares of Wabtec in the third quarter valued at approximately $217,000. CIBC Bancorp USA Inc. acquired a new position in shares of Wabtec during the 3rd quarter worth approximately $4,730,000. Finally, First Affirmative Financial Network lifted its position in shares of Wabtec by 10.3% during the 3rd quarter. First Affirmative Financial Network now owns 3,435 shares of the transportation company’s stock valued at $689,000 after buying an additional 322 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on WAB. Wall Street Zen cut shares of Wabtec from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Wells Fargo & Company initiated coverage on Wabtec in a research report on Thursday, November 13th. They set an “equal weight” rating and a $221.00 price target on the stock. Bank of America boosted their price objective on Wabtec from $228.00 to $233.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Susquehanna upped their target price on Wabtec from $235.00 to $240.00 and gave the stock a “positive” rating in a research note on Thursday, October 23rd. Finally, JPMorgan Chase & Co. lifted their price target on Wabtec from $200.00 to $215.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Wabtec currently has an average rating of “Moderate Buy” and a consensus target price of $226.78.

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.