Parallel Advisors LLC Has $450,000 Position in Wabtec $WAB

Parallel Advisors LLC raised its holdings in shares of Wabtec (NYSE:WAB) by 5.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,147 shares of the transportation company’s stock after buying an additional 115 shares during the quarter. Parallel Advisors LLC’s holdings in Wabtec were worth $450,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of WAB. Pacer Advisors Inc. lifted its holdings in shares of Wabtec by 2,220.1% during the first quarter. Pacer Advisors Inc. now owns 738,038 shares of the transportation company’s stock worth $133,843,000 after buying an additional 706,227 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Wabtec by 46.0% during the first quarter. BNP Paribas Financial Markets now owns 380,793 shares of the transportation company’s stock worth $69,057,000 after buying an additional 120,057 shares during the last quarter. Forsta AP Fonden lifted its holdings in shares of Wabtec by 40.4% during the first quarter. Forsta AP Fonden now owns 69,800 shares of the transportation company’s stock worth $12,658,000 after buying an additional 20,100 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Wabtec by 16.0% during the first quarter. New York State Common Retirement Fund now owns 142,163 shares of the transportation company’s stock worth $25,781,000 after buying an additional 19,600 shares during the last quarter. Finally, Raiffeisen Bank International AG lifted its holdings in shares of Wabtec by 159.0% during the first quarter. Raiffeisen Bank International AG now owns 16,561 shares of the transportation company’s stock worth $3,011,000 after buying an additional 10,168 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Wabtec news, CEO Rafael Santana sold 1,799 shares of the stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $189.97, for a total value of $341,756.03. Following the transaction, the chief executive officer owned 136,729 shares of the company’s stock, valued at approximately $25,974,408.13. This represents a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 5,369 shares of company stock valued at $1,042,586 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

Wabtec Trading Down 0.9%

Shares of WAB opened at $188.65 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.76 and a debt-to-equity ratio of 0.44. Wabtec has a 12-month low of $151.81 and a 12-month high of $216.10. The firm has a market capitalization of $32.25 billion, a PE ratio of 28.16, a price-to-earnings-growth ratio of 1.51 and a beta of 1.11. The stock’s fifty day simple moving average is $194.93 and its 200-day simple moving average is $192.73.

Wabtec (NYSE:WAB) last issued its quarterly earnings results on Thursday, July 24th. The transportation company reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.09. Wabtec had a return on equity of 13.65% and a net margin of 10.92%.The business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same quarter in the prior year, the firm posted $1.96 earnings per share. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. Wabtec has set its FY 2025 guidance at 8.550-9.150 EPS. As a group, research analysts predict that Wabtec will post 8.54 earnings per share for the current year.

Wabtec Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $1.00 annualized dividend and a yield of 0.5%. Wabtec’s dividend payout ratio is presently 14.93%.

Wall Street Analyst Weigh In

WAB has been the subject of a number of research analyst reports. Susquehanna upped their price target on Wabtec from $210.00 to $235.00 and gave the stock a “positive” rating in a report on Friday, July 25th. Morgan Stanley boosted their price objective on Wabtec from $220.00 to $226.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. JPMorgan Chase & Co. lowered their price objective on Wabtec from $216.00 to $200.00 and set a “neutral” rating on the stock in a research report on Thursday, August 14th. KeyCorp restated an “overweight” rating and set a $240.00 price objective (up from $220.00) on shares of Wabtec in a research report on Tuesday, June 24th. Finally, Bank of America boosted their price objective on Wabtec from $231.00 to $236.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $222.57.

Wabtec Profile

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.