Wabtec $WAB Shares Purchased by Provenance Wealth Advisors LLC

by · The Cerbat Gem

Provenance Wealth Advisors LLC increased its position in Wabtec (NYSE:WAB – Free Report) by 14,610.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,795 shares of the transportation company’s stock after purchasing an additional 2,776 shares during the period. Provenance Wealth Advisors LLC’s holdings in Wabtec were worth $803,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Welch & Forbes LLC raised its holdings in Wabtec by 1.8% in the second quarter. Welch & Forbes LLC now owns 2,050 shares of the transportation company’s stock worth $553,000 after buying an additional 36 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in shares of Wabtec by 0.8% in the third quarter. Quadrant Capital Group LLC now owns 4,317 shares of the transportation company’s stock worth $1,237,000 after buying an additional 36 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Wabtec by 4.5% during the second quarter. Parkside Financial Bank & Trust now owns 851 shares of the transportation company’s stock valued at $229,000 after buying an additional 37 shares during the last quarter. Meeder Advisory Services Inc. grew its holdings in shares of Wabtec by 1.6% during the first quarter. Meeder Advisory Services Inc. now owns 2,471 shares of the transportation company’s stock valued at $618,000 after buying an additional 38 shares during the last quarter. Finally, Legacy Financial Advisors Inc. grew its holdings in shares of Wabtec by 3.4% during the second quarter. Legacy Financial Advisors Inc. now owns 1,141 shares of the transportation company’s stock valued at $308,000 after buying an additional 38 shares during the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on WAB. Morgan Stanley raised their price target on shares of Wabtec from $318.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. KeyCorp upped their price objective on Wabtec from $308.00 to $340.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Weiss Ratings upgraded Wabtec from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, October 26th. JPMorgan Chase & Co. increased their target price on Wabtec from $315.00 to $320.00 and gave the company a “neutral” rating in a research note on Monday, September 21st. Finally, Citigroup reduced their target price on Wabtec from $338.00 to $334.00 and set a “buy” rating for the company in a report on Thursday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $320.18.

Check Out Our Latest Research Report on Wabtec

Wabtec Price Performance

WAB opened at $294.70 on Thursday. The company’s 50-day simple moving average is $285.20 and its two-hundred day simple moving average is $268.62. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.56 and a current ratio of 1.10. The stock has a market capitalization of $49.45 billion, a P/E ratio of 36.61, a P/E/G ratio of 1.63 and a beta of 0.93. Wabtec has a 52-week low of $194.93 and a 52-week high of $306.64.

Wabtec (NYSE:WAB – Get Free Report) last announced its quarterly earnings results on Wednesday, October 21st. The transportation company reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.73 by $0.10. The firm had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.20 billion. Wabtec had a net margin of 11.20% and a return on equity of 15.72%. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.32 earnings per share. As a group, analysts predict that Wabtec will post 10.97 EPS for the current year.

Wabtec Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 17th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, November 17th. Wabtec’s payout ratio is 15.40%.

Insider Buying and Selling at Wabtec

In other news, EVP Gregory Sbrocco sold 952 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $300.00, for a total value of $285,600.00. Following the transaction, the executive vice president directly owned 21,043 shares in the company, valued at $6,312,900. This trade represents a 4.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Fetsko sold 3,250 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $293.22, for a total value of $952,965.00. Following the completion of the transaction, the insider owned 37,380 shares in the company, valued at approximately $10,960,563.60. This trade represents a 8.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 5,289 shares of company stock worth $1,555,741. Insiders own 0.57% of the company’s stock.

Wabtec Profile

(Free Report)

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.

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