6,421 Shares in Wabtec $WAB Bought by World Investment Advisors

by · The Cerbat Gem

World Investment Advisors acquired a new stake in shares of Wabtec (NYSE:WABFree Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 6,421 shares of the transportation company’s stock, valued at approximately $1,287,000.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Wabtec during the second quarter worth about $347,194,000. Qube Research & Technologies Ltd bought a new position in shares of Wabtec in the second quarter valued at approximately $121,612,000. Aviva PLC lifted its holdings in Wabtec by 7,960.0% during the second quarter. Aviva PLC now owns 527,685 shares of the transportation company’s stock worth $110,471,000 after acquiring an additional 521,138 shares during the period. Vanguard Group Inc. boosted its position in Wabtec by 2.5% in the second quarter. Vanguard Group Inc. now owns 19,930,893 shares of the transportation company’s stock worth $4,172,532,000 after purchasing an additional 493,437 shares during the last quarter. Finally, Amundi boosted its position in Wabtec by 36.8% in the second quarter. Amundi now owns 1,614,789 shares of the transportation company’s stock worth $345,371,000 after purchasing an additional 434,401 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

Insider Activity

In other news, CAO John A. Mastalerz, Jr. sold 2,766 shares of the company’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $210.00, for a total value of $580,860.00. Following the transaction, the chief accounting officer owned 5,286 shares of the company’s stock, valued at approximately $1,110,060. This represents a 34.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Gregory Sbrocco sold 2,953 shares of the business’s stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of $195.43, for a total value of $577,104.79. Following the transaction, the executive vice president owned 17,829 shares of the company’s stock, valued at approximately $3,484,321.47. The trade was a 14.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 35,714 shares of company stock worth $7,441,102. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on WAB shares. Citigroup lifted their target price on Wabtec from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. Susquehanna lifted their price objective on shares of Wabtec from $235.00 to $240.00 and gave the stock a “positive” rating in a research report on Thursday, October 23rd. JPMorgan Chase & Co. increased their target price 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 reaffirmed a “buy (b)” rating on shares of Wabtec in a report on Wednesday, October 8th. Finally, Wells Fargo & Company raised their target price on Wabtec from $221.00 to $224.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 17th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Wabtec currently has a consensus rating of “Moderate Buy” and a consensus price target of $227.11.

Read Our Latest Stock Report on Wabtec

Wabtec Stock Performance

Shares of WAB opened at $219.18 on Monday. Wabtec has a 52-week low of $151.81 and a 52-week high of $222.47. The stock’s 50-day simple moving average is $207.45 and its 200 day simple moving average is $201.48. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.75 and a current ratio of 1.42. The stock has a market capitalization of $37.47 billion, a price-to-earnings ratio of 31.86, a price-to-earnings-growth ratio of 1.69 and a beta of 0.99.

Wabtec (NYSE:WABGet Free Report) last announced its quarterly earnings results on Wednesday, October 22nd. The transportation company reported $2.32 earnings per share for the quarter, beating 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 firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.88 billion. During the same period in the prior year, the business posted $2.00 earnings per share. The company’s revenue was up 8.4% on a year-over-year basis. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. Research analysts forecast that Wabtec will post 8.54 EPS for the current fiscal year.

Wabtec Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Wednesday, November 12th. Wabtec’s dividend payout ratio (DPR) is presently 14.53%.

Wabtec Company Profile

(Free Report)

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.

Further Reading

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