Arrowstreet Capital Limited Partnership Cuts Stock Position in Wabtec $WAB

Arrowstreet Capital Limited Partnership trimmed its position in shares of Wabtec (NYSE:WAB) by 49.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 232,101 shares of the transportation company’s stock after selling 225,528 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.14% of Wabtec worth $48,590,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of WAB. Norges Bank acquired a new stake in shares of Wabtec during the second quarter worth about $347,194,000. Aviva PLC lifted its holdings in Wabtec by 7,960.0% during the 2nd quarter. Aviva PLC now owns 527,685 shares of the transportation company’s stock worth $110,471,000 after buying an additional 521,138 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Wabtec by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 19,930,893 shares of the transportation company’s stock worth $4,172,532,000 after buying an additional 493,437 shares in the last quarter. Nordea Investment Management AB boosted its position in Wabtec by 33.4% in the 2nd quarter. Nordea Investment Management AB now owns 1,592,529 shares of the transportation company’s stock valued at $333,062,000 after buying an additional 398,782 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of Wabtec by 56.3% in the second quarter. Robeco Institutional Asset Management B.V. now owns 778,156 shares of the transportation company’s stock worth $162,907,000 after acquiring an additional 280,140 shares in the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on WAB shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Wabtec in a research note on Wednesday, October 8th. JPMorgan Chase & Co. increased their price target on Wabtec from $200.00 to $215.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. Wells Fargo & Company began coverage on Wabtec in a research report on Thursday, November 13th. They set an “equal weight” rating and a $221.00 price objective for the company. Citigroup upped their target price on shares of Wabtec from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. Finally, Bank of America lifted 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, November 13th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $226.78.

Insider Activity

In other Wabtec news, CAO John A. Mastalerz, Jr. sold 2,766 shares of the firm’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $210.00, for a total transaction of $580,860.00. Following the transaction, the chief accounting officer directly owned 5,286 shares of the company’s stock, valued at approximately $1,110,060. This trade represents a 34.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Rafael Santana sold 1,798 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $203.61, for a total value of $366,090.78. Following 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 position. The SEC filing for this sale provides additional information. Insiders have sold 32,455 shares of company stock worth $6,651,219 over the last 90 days. 1.10% of the stock is owned by corporate insiders.

Wabtec Trading Up 0.3%

NYSE WAB opened at $214.71 on Friday. The firm’s fifty day moving average price is $201.73 and its 200 day moving average price is $200.11. 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 has a 12 month low of $151.81 and a 12 month high of $216.10. The company has a market capitalization of $36.71 billion, a price-to-earnings ratio of 31.21, a price-to-earnings-growth ratio of 1.65 and a beta of 0.99.

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, beating analysts’ consensus estimates of $2.28 by $0.04. The firm had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.88 billion. Wabtec had a return on equity of 13.84% and a net margin of 10.94%.The business’s revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.00 EPS. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. On average, sell-side analysts expect that Wabtec will post 8.54 earnings per share for the current fiscal year.

Wabtec Dividend Announcement

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

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.