Wabtec $WAB Shares Acquired by Neuberger Berman Group LLC

Neuberger Berman Group LLC raised its stake in shares of Wabtec (NYSE:WAB) by 5.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 229,233 shares of the transportation company’s stock after purchasing an additional 11,406 shares during the period. Neuberger Berman Group LLC owned 0.13% of Wabtec worth $47,990,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Wabtec during the 2nd quarter valued at $347,194,000. Aviva PLC boosted its holdings in Wabtec by 7,960.0% in the second quarter. Aviva PLC now owns 527,685 shares of the transportation company’s stock valued at $110,471,000 after acquiring an additional 521,138 shares during the last quarter. Vanguard Group Inc. grew its position in Wabtec by 2.5% during the second quarter. Vanguard Group Inc. now owns 19,930,893 shares of the transportation company’s stock valued at $4,172,532,000 after acquiring an additional 493,437 shares during the period. Nordea Investment Management AB grew its position in Wabtec by 33.4% during the second quarter. Nordea Investment Management AB now owns 1,592,529 shares of the transportation company’s stock valued at $333,062,000 after acquiring an additional 398,782 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its stake in Wabtec by 56.3% during the second quarter. Robeco Institutional Asset Management B.V. now owns 778,156 shares of the transportation company’s stock worth $162,907,000 after acquiring an additional 280,140 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Wabtec Stock Performance

Shares of WAB stock opened at $207.81 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.75. The company’s fifty day moving average price is $199.67 and its two-hundred day moving average price is $199.82. The firm has a market capitalization of $35.53 billion, a P/E ratio of 30.20, a P/E/G ratio of 1.55 and a beta of 1.09. Wabtec has a 12 month low of $151.81 and a 12 month high of $216.10.

Wabtec (NYSE:WAB) last released its quarterly earnings results on Wednesday, October 22nd. The transportation company reported $2.32 EPS for the quarter, topping 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 business had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter in the previous year, the firm posted $2.00 earnings per share. The company’s 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. On average, research analysts anticipate that Wabtec will post 8.54 earnings per share for the current fiscal year.

Wabtec Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, November 12th. 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 14.53%.

Wall Street Analyst Weigh In

WAB has been the topic of several research analyst reports. Wall Street Zen lowered Wabtec from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. JPMorgan Chase & Co. lifted their price target on shares of Wabtec from $200.00 to $215.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of Wabtec in a research note on Wednesday, October 8th. Citigroup increased their price objective on shares of Wabtec from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. Finally, Wells Fargo & Company began coverage on shares of Wabtec in a report on Thursday, November 13th. They set an “equal weight” rating and a $221.00 target price on the stock. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Wabtec currently has an average rating of “Moderate Buy” and an average target price of $226.78.

Insiders Place Their Bets

In other news, insider Pascal Schweitzer sold 3,000 shares of the business’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $208.07, for a total value of $624,210.00. Following the completion of the sale, the insider owned 4,955 shares of the company’s stock, valued at approximately $1,030,986.85. The trade was a 37.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP David L. Deninno sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $209.94, for a total transaction of $1,049,700.00. Following the completion of the sale, the vice president owned 55,450 shares in the company, valued at approximately $11,641,173. This trade represents a 8.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 25,436 shares of company stock valued at $5,145,024. 1.10% of the stock is owned by insiders.

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.