Wabtec $WAB Shares Purchased by Arista Wealth Management LLC

Arista Wealth Management LLC boosted its holdings in shares of Wabtec (NYSE:WAB) by 40.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,602 shares of the transportation company’s stock after buying an additional 2,201 shares during the quarter. Arista Wealth Management LLC’s holdings in Wabtec were worth $1,524,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of WAB. Empowered Funds LLC increased its stake in Wabtec by 240.8% in the second quarter. Empowered Funds LLC now owns 15,924 shares of the transportation company’s stock valued at $3,334,000 after purchasing an additional 11,252 shares during the last quarter. Varenne Capital Partners boosted its holdings in shares of Wabtec by 39.5% in the 2nd quarter. Varenne Capital Partners now owns 277,078 shares of the transportation company’s stock valued at $58,006,000 after buying an additional 78,394 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Wabtec in the 2nd quarter valued at $9,371,000. Mediolanum International Funds Ltd acquired a new stake in Wabtec during the 2nd quarter worth $8,201,000. Finally, Neuberger Berman Group LLC lifted its position in Wabtec by 5.2% in the second quarter. Neuberger Berman Group LLC now owns 229,233 shares of the transportation company’s stock valued at $47,990,000 after acquiring an additional 11,406 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Wabtec Trading Down 0.7%

Shares of WAB stock opened at $244.62 on Tuesday. The company has a market capitalization of $41.82 billion, a P/E ratio of 35.56, a price-to-earnings-growth ratio of 1.68 and a beta of 1.01. 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 business’s 50 day moving average is $223.17 and its two-hundred day moving average is $205.77. Wabtec has a twelve month low of $151.81 and a twelve month high of $248.78.

Wabtec Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 17th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $1.24 annualized dividend and a yield of 0.5%. This is an increase from Wabtec’s previous quarterly dividend of $0.25. Wabtec’s dividend payout ratio is presently 14.53%.

Insider Activity at Wabtec

In other news, VP David L. Deninno sold 5,000 shares of the firm’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $209.94, for a total value 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Fetsko sold 5,058 shares of Wabtec stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $215.72, for a total transaction of $1,091,111.76. Following the completion of the sale, the insider directly owned 36,882 shares in the company, valued at approximately $7,956,185.04. The trade was a 12.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 21,641 shares of company stock worth $4,609,349 in the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on WAB. Wolfe Research raised Wabtec from a “peer perform” rating to an “outperform” rating and set a $245.00 price objective on the stock in a report on Thursday, January 8th. Bank of America upped their target price on Wabtec from $228.00 to $233.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Wells Fargo & Company lifted their price target on Wabtec from $221.00 to $224.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Wabtec in a report on Wednesday, January 21st. Finally, Morgan Stanley raised their target price on shares of Wabtec from $257.00 to $264.00 and gave the stock an “overweight” rating in a research report on Monday, January 12th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $241.00.

Wabtec Company Profile

Wabtec Corporation (Westinghouse Air Brake Technologies Corporation) is a global provider of equipment, systems and services for the rail industry. The company supplies products and solutions to freight railroads, transit agencies and other industrial operators, focusing on technologies that improve the performance, safety and efficiency of locomotives and rail networks. Wabtec’s business spans new equipment manufacturing, aftermarket parts and services, and digital and control systems for rail operations.

Product and service offerings include locomotive systems and components, braking and air systems, propulsion and traction equipment, signaling and control technologies, and a range of aftermarket services such as maintenance, remanufacturing, parts distribution and fleet modernization.