Wabtec $WAB Stock Position Decreased by Intech Investment Management LLC

Intech Investment Management LLC cut its holdings in Wabtec (NYSE:WAB) by 55.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,660 shares of the transportation company’s stock after selling 19,422 shares during the period. Intech Investment Management LLC’s holdings in Wabtec were worth $3,278,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Pacer Advisors Inc. grew its holdings in shares of Wabtec by 2,220.1% in the 1st quarter. Pacer Advisors Inc. now owns 738,038 shares of the transportation company’s stock worth $133,843,000 after purchasing an additional 706,227 shares during the last quarter. Harvest Fund Management Co. Ltd lifted its holdings in Wabtec by 30.5% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 5,097 shares of the transportation company’s stock worth $957,000 after buying an additional 1,190 shares in the last quarter. Raiffeisen Bank International AG boosted its holdings in Wabtec by 159.0% in the first quarter. Raiffeisen Bank International AG now owns 16,561 shares of the transportation company’s stock valued at $3,011,000 after acquiring an additional 10,168 shares during the last quarter. iA Global Asset Management Inc. grew its position in shares of Wabtec by 4.7% during the 1st quarter. iA Global Asset Management Inc. now owns 17,907 shares of the transportation company’s stock worth $3,247,000 after buying an additional 812 shares during the period. Finally, Forsta AP Fonden grew its holdings in Wabtec by 40.4% during the 1st quarter. Forsta AP Fonden now owns 69,800 shares of the transportation company’s stock worth $12,658,000 after acquiring an additional 20,100 shares during the period. Institutional investors own 91.69% of the company’s stock.

Insider Activity

In other news, EVP Gregory Sbrocco sold 2,953 shares of Wabtec stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $195.43, for a total value of $577,104.79. Following the completion of the sale, the executive vice president directly owned 17,829 shares in the company, valued at $3,484,321.47. The trade was a 14.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Rafael Santana sold 1,799 shares of the company’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $189.97, for a total value of $341,756.03. Following the sale, the chief executive officer owned 136,729 shares of the company’s stock, valued at approximately $25,974,408.13. This trade represents a 1.30% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 25,436 shares of company stock valued at $5,145,024. 1.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on WAB shares. Bank of America lifted 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. Wells Fargo & Company initiated coverage on shares of Wabtec in a research note on Thursday, November 13th. They issued an “equal weight” rating and a $221.00 target price for the company. JPMorgan Chase & Co. raised their price objective on Wabtec from $200.00 to $215.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. Citigroup lifted their target price on shares of Wabtec from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wabtec in a report on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Wabtec currently has an average rating of “Moderate Buy” and an average price target of $226.78.

Wabtec Stock Performance

Shares of WAB opened at $197.89 on Wednesday. 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 company has a market capitalization of $33.83 billion, a price-to-earnings ratio of 28.76, a PEG ratio of 1.55 and a beta of 1.09. The stock has a 50 day moving average of $197.79 and a 200 day moving average of $199.38. Wabtec has a 12 month low of $151.81 and a 12 month high of $216.10.

Wabtec (NYSE:WAB) last issued its quarterly earnings data on Wednesday, October 22nd. The transportation company reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $0.04. The company had revenue of $2.89 billion for 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 firm’s revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.00 earnings per share. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. As a group, sell-side analysts forecast that Wabtec will post 8.54 earnings per share for the current year.

Wabtec Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is 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 currently 14.53%.

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.