Wabtec $WAB Shares Newly Acquired by Axecap Investments LLC

Axecap Investments LLC acquired a new stake in shares of Wabtec (NYSE:WAB) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 6,161 shares of the transportation company’s stock, valued at approximately $1,769,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Meeder Asset Management Inc. purchased a new position in shares of Wabtec during the 2nd quarter valued at approximately $26,000. Whipplewood Advisors LLC acquired a new stake in shares of Wabtec during the first quarter worth approximately $25,000. Bell Investment Advisors Inc acquired a new stake in shares of Wabtec during the second quarter worth approximately $29,000. Fiduciary Financial Advisors bought a new stake in shares of Wabtec in the second quarter worth $29,000. Finally, Eastern Bank increased its stake in shares of Wabtec by 103.8% in the third quarter. Eastern Bank now owns 163 shares of the transportation company’s stock worth $47,000 after buying an additional 83 shares during the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Wabtec Stock Down 1.1%

WAB stock opened at $283.61 on Wednesday. The firm has a market cap of $47.91 billion, a price-to-earnings ratio of 38.12, a PEG ratio of 1.94 and a beta of 0.92. Wabtec has a 1-year low of $186.06 and a 1-year high of $306.64. The firm has a fifty day moving average price of $287.91 and a two-hundred day moving average price of $275.80. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.12 and a quick ratio of 0.59.

Wabtec (NYSE:WAB) last posted its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $2.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.60 by $0.16. The company had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.07 billion. Wabtec had a net margin of 10.59% and a return on equity of 15.10%. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period last year, the firm posted $2.27 EPS. Research analysts predict that Wabtec will post 10.89 EPS for the current year.

Wabtec Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, November 17th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $1.24 annualized dividend and a dividend yield of 0.4%. Wabtec’s dividend payout ratio (DPR) is 16.67%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on WAB. Wells Fargo & Company upped their price target on shares of Wabtec from $284.00 to $315.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. KeyCorp raised their price objective on shares of Wabtec from $308.00 to $340.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Stephens raised their price objective on shares of Wabtec from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Morgan Stanley boosted their target price on shares of Wabtec from $318.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Finally, Wall Street Zen downgraded shares of Wabtec from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $313.55.

Insider Transactions at Wabtec

In other Wabtec news, CEO Rafael Santana sold 1,087 shares of the firm’s stock in a transaction on Monday, October 5th. The stock was sold at an average price of $291.79, for a total value of $317,175.73. Following the sale, the chief executive officer directly owned 116,155 shares in the company, valued at approximately $33,892,867.45. This trade represents a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Eric Gebhardt sold 7,100 shares of the business’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $299.27, for a total transaction of $2,124,817.00. Following the transaction, the chief technology officer directly owned 19,153 shares of the company’s stock, valued at approximately $5,731,918.31. This trade represents a 27.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 17,552 shares of company stock valued at $5,232,911 over the last three months. 0.57% of the stock is currently owned by company insiders.

Wabtec Company Profile

Westinghouse Air Brake Technologies Corporation, doing business as Wabtec (NYSE: WAB), is a global provider of equipment, systems, digital solutions and services for the freight and passenger rail industries. The company develops technologies intended to improve the safety, efficiency, reliability and sustainability of rail transportation.

Wabtec’s products and services include locomotives, locomotive components and modernization programs, braking systems, train control and signaling equipment, power and propulsion systems, and advanced digital solutions.