Assenagon Asset Management S.A. Sells 31,247 Shares of Wabtec $WAB

Assenagon Asset Management S.A. reduced its stake in shares of Wabtec (NYSE:WAB) by 10.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 277,688 shares of the transportation company’s stock after selling 31,247 shares during the quarter. Assenagon Asset Management S.A. owned 0.16% of Wabtec worth $55,668,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in Wabtec by 3.3% during the 3rd quarter. GAMMA Investing LLC now owns 4,249 shares of the transportation company’s stock valued at $852,000 after purchasing an additional 136 shares during the last quarter. Valeo Financial Advisors LLC boosted its holdings in shares of Wabtec by 10.1% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,791 shares of the transportation company’s stock worth $375,000 after acquiring an additional 165 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in shares of Wabtec by 86.7% in the 2nd quarter. Osaic Holdings Inc. now owns 14,449 shares of the transportation company’s stock worth $2,823,000 after acquiring an additional 6,709 shares in the last quarter. Orion Porfolio Solutions LLC grew its position in Wabtec by 68.3% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 7,213 shares of the transportation company’s stock worth $1,510,000 after acquiring an additional 2,927 shares during the last quarter. Finally, MASTERINVEST Kapitalanlage GmbH acquired a new stake in Wabtec during the 2nd quarter valued at $669,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on WAB. Weiss Ratings restated a “buy (b)” rating on shares of Wabtec in a report on Wednesday, October 8th. JPMorgan Chase & Co. upped their target price on shares of Wabtec from $200.00 to $215.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Bank of America boosted their price objective on shares of Wabtec from $228.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Susquehanna boosted their target price on Wabtec from $235.00 to $240.00 and gave the stock a “positive” rating in a research report on Thursday, October 23rd. Finally, Citigroup upped their price target on Wabtec from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, November 14th. Seven investment 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 stock has an average rating of “Moderate Buy” and an average price target of $227.11.

Insider Buying and Selling at Wabtec

In related news, insider Michael Fetsko sold 5,058 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $215.72, for a total value of $1,091,111.76. Following the completion of the transaction, the insider directly owned 36,882 shares in the company, valued at approximately $7,956,185.04. The trade was a 12.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO John A. Mastalerz, Jr. sold 2,766 shares of the stock in a transaction that occurred 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 directly owned 5,286 shares of the company’s stock, valued at approximately $1,110,060. The trade was a 34.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 33,916 shares of company stock worth $7,059,620 over the last three months. Company insiders own 1.10% of the company’s stock.

Wabtec Stock Performance

Shares of WAB stock opened at $212.21 on Thursday. The stock has a 50-day moving average of $204.09 and a 200-day moving average of $200.80. The stock has a market cap of $36.28 billion, a PE ratio of 30.84, a price-to-earnings-growth ratio of 1.65 and a beta of 0.99. Wabtec has a one year low of $151.81 and a one year high of $220.89. 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 quarterly earnings results on Wednesday, October 22nd. The transportation company reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.04. The company had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.88 billion. Wabtec had a net margin of 10.94% and a return on equity of 13.84%. The firm’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.00 EPS. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. As a group, sell-side analysts expect that Wabtec will post 8.54 earnings per share for the current year.

Wabtec Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. Wabtec’s dividend payout ratio (DPR) is currently 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.