Allspring Global Investments Holdings LLC Decreases Stock Holdings in Wabtec $WAB

Allspring Global Investments Holdings LLC lowered its stake in shares of Wabtec (NYSE:WAB) by 3.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,482 shares of the transportation company’s stock after selling 298 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Wabtec were worth $1,566,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. PFS Partners LLC boosted its holdings in Wabtec by 70.4% during the second quarter. PFS Partners LLC now owns 121 shares of the transportation company’s stock worth $25,000 after buying an additional 50 shares in the last quarter. Trust Co. of Vermont lifted its holdings in shares of Wabtec by 44.2% in the second quarter. Trust Co. of Vermont now owns 163 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 50 shares in the last quarter. ST Germain D J Co. Inc. lifted its holdings in shares of Wabtec by 30.2% in the second quarter. ST Germain D J Co. Inc. now owns 207 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 48 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Wabtec in the second quarter valued at about $44,000. Finally, UMB Bank n.a. lifted its holdings in shares of 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 in the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Insider Activity

In other news, CEO Rafael Santana sold 1,798 shares of the stock in a transaction on Tuesday, October 14th. The shares were sold at an average price of $195.04, for a total value of $350,681.92. Following the completion of the sale, the chief executive officer owned 133,133 shares of the company’s stock, valued at $25,966,260.32. This represents a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 6,281 shares of company stock valued at $1,204,240 over the last ninety days. 1.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Wall Street Zen downgraded shares of Wabtec from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wabtec in a report on Wednesday, October 8th. Morgan Stanley upped their price target on shares of Wabtec from $220.00 to $226.00 and gave the company an “overweight” rating in a report on Monday, July 28th. JPMorgan Chase & Co. upped their price target on shares of Wabtec from $200.00 to $215.00 and gave the company a “neutral” rating in a report on Tuesday, October 14th. Finally, Susquehanna boosted their price objective on shares of Wabtec from $210.00 to $235.00 and gave the company a “positive” rating in a research report on Friday, July 25th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Wabtec presently has an average rating of “Moderate Buy” and a consensus price target of $224.75.

Wabtec Stock Performance

Shares of WAB stock opened at $193.27 on Thursday. Wabtec has a one year low of $151.81 and a one year high of $216.10. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.76. The company has a 50 day moving average price of $193.77 and a 200 day moving average price of $195.20. The firm has a market capitalization of $33.04 billion, a price-to-earnings ratio of 28.85, a price-to-earnings-growth ratio of 1.53 and a beta of 1.10.

Wabtec (NYSE:WAB) last issued its quarterly earnings results on Wednesday, October 22nd. The transportation company reported $2.32 EPS for the quarter, topping the consensus estimate of $2.28 by $0.04. Wabtec had a net margin of 10.92% and a return on equity of 13.65%. The firm had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the prior year, the business posted $2.00 earnings per share. Wabtec’s revenue for the quarter was up 8.4% compared to the same quarter last year. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. Sell-side analysts anticipate that Wabtec will post 8.54 EPS for the current year.

Wabtec Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Wabtec’s dividend payout ratio is presently 14.93%.

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.