Bristol Gate Capital Partners Inc. Reduces Stock Holdings in Wabtec $WAB

Bristol Gate Capital Partners Inc. cut its stake in shares of Wabtec (NYSE:WAB) by 18.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 399,603 shares of the transportation company’s stock after selling 89,755 shares during the quarter. Wabtec accounts for 4.8% of Bristol Gate Capital Partners Inc.’s portfolio, making the stock its 8th largest holding. Bristol Gate Capital Partners Inc. owned 0.23% of Wabtec worth $83,657,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of WAB. PFS Partners LLC lifted its holdings in shares of Wabtec by 70.4% during the second quarter. PFS Partners LLC now owns 121 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. Colonial Trust Advisors raised its holdings in Wabtec by 454.5% during the 2nd quarter. Colonial Trust Advisors now owns 122 shares of the transportation company’s stock worth $26,000 after buying an additional 100 shares during the period. Trust Co. of Vermont lifted its stake in Wabtec by 44.2% during the second quarter. Trust Co. of Vermont now owns 163 shares of the transportation company’s stock valued at $34,000 after buying an additional 50 shares in the last quarter. ST Germain D J Co. Inc. lifted 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 buying an additional 48 shares in the last quarter. Finally, Ameritas Advisory Services LLC acquired a new position in shares of Wabtec in the second quarter worth about $44,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Wabtec Stock Performance

Wabtec stock opened at $208.44 on Friday. Wabtec has a 52-week low of $151.81 and a 52-week high of $216.10. The firm has a market capitalization of $35.63 billion, a P/E ratio of 30.30, a P/E/G ratio of 1.55 and a beta of 1.09. The stock has a fifty day moving average price of $200.07 and a two-hundred day moving average price of $199.84. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.75.

Wabtec (NYSE:WAB) last announced its earnings results on Wednesday, October 22nd. The transportation company reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $0.04. Wabtec had a net margin of 10.94% and a return on equity of 13.84%. The company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period in the prior year, the business earned $2.00 earnings per share. Wabtec’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. As a group, analysts anticipate that Wabtec will post 8.54 EPS for the current fiscal year.

Wabtec Announces Dividend

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

Insider Buying and Selling at Wabtec

In other Wabtec news, CAO John A. Mastalerz, Jr. sold 2,766 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $210.00, for a total transaction of $580,860.00. Following the transaction, the chief accounting officer owned 5,286 shares of the company’s stock, valued at $1,110,060. The trade was a 34.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Rafael Santana sold 1,798 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $203.61, for a total transaction of $366,090.78. Following the completion of the transaction, the chief executive officer directly owned 129,537 shares in the company, valued at approximately $26,375,028.57. This represents a 1.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 25,436 shares of company stock valued at $5,145,024 over the last quarter. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on WAB. Wells Fargo & Company initiated coverage on shares of Wabtec in a report on Thursday, November 13th. They set an “equal weight” rating and a $221.00 price target on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Wabtec in a research report on Wednesday, October 8th. Citigroup increased their target price on Wabtec from $225.00 to $245.00 and gave the company a “buy” rating in a report on Friday, November 14th. Susquehanna raised their price target on shares of Wabtec from $235.00 to $240.00 and gave the stock a “positive” rating in a report on Thursday, October 23rd. Finally, Bank of America upped their target price on Wabtec from $228.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $226.78.

Wabtec Company 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.