Farther Finance Advisors LLC Increases Stock Holdings in Wabtec $WAB

Farther Finance Advisors LLC lifted its position in Wabtec (NYSE:WAB) by 14.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,215 shares of the transportation company’s stock after buying an additional 150 shares during the quarter. Farther Finance Advisors LLC’s holdings in Wabtec were worth $254,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of WAB. CX Institutional lifted its position in Wabtec by 6.3% in the 2nd quarter. CX Institutional now owns 1,478 shares of the transportation company’s stock worth $309,000 after buying an additional 87 shares during the last quarter. UMB Bank n.a. lifted its position in Wabtec by 22.2% in the second quarter. UMB Bank n.a. now owns 358 shares of the transportation company’s stock valued at $75,000 after purchasing an additional 65 shares during the last quarter. Diversified Trust Co lifted its position in Wabtec by 17.2% in the second quarter. Diversified Trust Co now owns 24,819 shares of the transportation company’s stock valued at $5,196,000 after purchasing an additional 3,643 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in shares of Wabtec during the second quarter valued at approximately $32,547,000. Finally, IFM Investors Pty Ltd increased its stake in shares of Wabtec by 7.5% during the second quarter. IFM Investors Pty Ltd now owns 40,294 shares of the transportation company’s stock valued at $8,436,000 after buying an additional 2,810 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on WAB. Susquehanna upped their price target on Wabtec from $210.00 to $235.00 and gave the stock a “positive” rating in a research note on Friday, July 25th. Bank of America increased their target price on Wabtec from $231.00 to $236.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. KeyCorp reissued an “overweight” rating and issued a $240.00 target price (up from $220.00) on shares of Wabtec in a research note on Tuesday, June 24th. Morgan Stanley increased their target price on Wabtec from $220.00 to $226.00 and gave the stock an “overweight” rating in a research note on Monday, July 28th. Finally, Citigroup initiated coverage on Wabtec in a research note on Monday, September 22nd. They issued a “buy” rating and a $225.00 target price on the stock. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Wabtec currently has an average rating of “Moderate Buy” and an average target price of $222.88.

Wabtec Stock Up 1.5%

Shares of WAB opened at $200.48 on Wednesday. The company has a current ratio of 1.76, a quick ratio of 1.05 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 business’s 50 day moving average is $192.77 and its 200 day moving average is $193.75. The company has a market capitalization of $34.27 billion, a PE ratio of 29.92, a price-to-earnings-growth ratio of 1.53 and a beta of 1.11.

Wabtec (NYSE:WAB) last announced its earnings results on Thursday, July 24th. The transportation company reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $2.18 by $0.09. Wabtec had a return on equity of 13.65% and a net margin of 10.92%.The firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.76 billion. During the same quarter in the previous year, the business earned $1.96 EPS. The company’s quarterly revenue was up 2.3% on a year-over-year basis. Wabtec has set its FY 2025 guidance at 8.550-9.150 EPS. Research analysts expect that Wabtec will post 8.54 earnings per share for the current fiscal year.

Wabtec Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, August 14th. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. Wabtec’s payout ratio is presently 14.93%.

Insider Transactions at Wabtec

In related news, CEO Rafael Santana sold 1,799 shares of the business’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $189.97, for a total transaction of $341,756.03. Following the completion of the transaction, the chief executive officer owned 136,729 shares in the company, valued at $25,974,408.13. The trade was a 1.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders sold 5,369 shares of company stock worth $1,042,586. 1.10% of the stock is owned by insiders.

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.