Allworth Financial LP Has $356,000 Holdings in Wabtec $WAB

Allworth Financial LP lifted its stake in Wabtec (NYSE:WAB) by 19.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,702 shares of the transportation company’s stock after acquiring an additional 280 shares during the period. Allworth Financial LP’s holdings in Wabtec were worth $356,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of WAB. PFS Partners LLC increased its holdings in shares of Wabtec by 70.4% during the 2nd quarter. PFS Partners LLC now owns 121 shares of the transportation company’s stock worth $25,000 after purchasing an additional 50 shares during the period. Trust Co. of Vermont grew its position in Wabtec by 44.2% during the second quarter. Trust Co. of Vermont now owns 163 shares of the transportation company’s stock worth $34,000 after buying an additional 50 shares in the last quarter. ST Germain D J Co. Inc. increased its stake in Wabtec by 30.2% during the second quarter. ST Germain D J Co. Inc. now owns 207 shares of the transportation company’s stock valued at $43,000 after acquiring an additional 48 shares during the period. Ameritas Advisory Services LLC acquired a new position in Wabtec in the 2nd quarter valued at approximately $44,000. Finally, NewSquare Capital LLC lifted its position in shares of Wabtec by 125.3% in the 2nd quarter. NewSquare Capital LLC now owns 223 shares of the transportation company’s stock worth $47,000 after acquiring an additional 124 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on WAB. JPMorgan Chase & Co. upped their target price on Wabtec from $200.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Citigroup lifted their target price on shares of Wabtec from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Friday. Susquehanna increased their price target 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. Bank of America raised their price target on shares of Wabtec from $228.00 to $233.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Wabtec in a research note on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $226.78.

Wabtec Price Performance

Shares of WAB stock opened at $203.60 on Monday. Wabtec has a 52 week low of $151.81 and a 52 week high of $216.10. The stock has a market capitalization of $34.81 billion, a PE ratio of 29.59, a PEG ratio of 1.55 and a beta of 1.09. 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’s fifty day moving average is $197.45 and its 200-day moving average is $199.25.

Wabtec (NYSE:WAB) last issued its quarterly earnings results on Wednesday, October 22nd. The transportation company reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.04. Wabtec had a net margin of 10.94% and a return on equity of 13.84%. The business had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the prior year, the company earned $2.00 EPS. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. Equities research analysts expect that Wabtec will post 8.54 EPS for the current fiscal year.

Wabtec Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Wednesday, November 12th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date is Wednesday, November 12th. Wabtec’s payout ratio is 14.53%.

Insider Transactions at Wabtec

In other Wabtec news, CEO Rafael Santana sold 1,799 shares of the stock in a transaction on 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 directly owned 136,729 shares in the company, valued at approximately $25,974,408.13. This trade represents a 1.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO John A. Mastalerz, Jr. sold 2,766 shares of the business’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $210.00, for a total value of $580,860.00. Following the sale, the chief accounting officer owned 5,286 shares of the company’s stock, valued at approximately $1,110,060. The trade was a 34.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 26,322 shares of company stock worth $5,315,871 over the last ninety days. 1.10% of the stock is currently owned by insiders.

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.