Board of the Pension Protection Fund Sells 6,400 Shares of Wabtec $WAB

Board of the Pension Protection Fund decreased its position in Wabtec (NYSE:WAB) by 74.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,200 shares of the transportation company’s stock after selling 6,400 shares during the quarter. Board of the Pension Protection Fund’s holdings in Wabtec were worth $441,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. PFS Partners LLC lifted its stake in Wabtec by 70.4% in the 2nd quarter. PFS Partners LLC now owns 121 shares of the transportation company’s stock valued at $25,000 after acquiring an additional 50 shares in the last quarter. Colonial Trust Advisors raised its holdings in shares of Wabtec by 454.5% in the second quarter. Colonial Trust Advisors now owns 122 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 100 shares during the last quarter. Trust Co. of Vermont lifted its position 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 worth $34,000 after purchasing an additional 50 shares in the last quarter. North Capital Inc. lifted its position in shares of Wabtec by 18,900.0% in the third quarter. North Capital Inc. now owns 190 shares of the transportation company’s stock worth $38,000 after purchasing an additional 189 shares in the last quarter. Finally, ST Germain D J Co. Inc. boosted its holdings 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 worth $43,000 after purchasing an additional 48 shares during the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on WAB shares. Citigroup lifted their price target on shares of Wabtec from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, November 14th. Wells Fargo & Company upped their target price on Wabtec from $221.00 to $224.00 and gave the stock an “equal weight” rating in a report on Wednesday. Bank of America increased their price target on Wabtec from $228.00 to $233.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Susquehanna raised their price target on Wabtec from $235.00 to $240.00 and gave the company a “positive” rating in a research note on Thursday, October 23rd. Finally, JPMorgan Chase & Co. upped their price objective on Wabtec from $200.00 to $215.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $227.11.

Wabtec Price Performance

Shares of NYSE WAB opened at $216.03 on Friday. The business’s 50 day moving average price is $204.95 and its two-hundred day moving average price is $200.99. The company has a market cap of $36.93 billion, a PE ratio of 31.40, a price-to-earnings-growth ratio of 1.65 and a beta of 0.99. The company has a quick ratio of 0.75, a current ratio of 1.42 and a debt-to-equity ratio of 0.45. Wabtec has a twelve month low of $151.81 and a twelve month high of $220.89.

Wabtec (NYSE:WAB) last released its quarterly earnings data 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. Wabtec had a return on equity of 13.84% and a net margin of 10.94%.The firm had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the prior year, the company earned $2.00 earnings per share. The business’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. On average, analysts predict that Wabtec will post 8.54 EPS for the current year.

Wabtec Dividend Announcement

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

Insider Activity

In other news, VP David L. Deninno sold 5,000 shares of the stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $214.62, for a total value of $1,073,100.00. Following the transaction, the vice president directly owned 50,450 shares of the company’s stock, valued at $10,827,579. This represents a 9.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gregory Sbrocco sold 2,953 shares of the firm’s stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of $195.43, for a total transaction of $577,104.79. Following the sale, the executive vice president owned 17,829 shares of the company’s stock, valued at approximately $3,484,321.47. This represents a 14.21% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 35,714 shares of company stock valued at $7,441,102. 1.10% of the stock is owned by company insiders.

Wabtec Profile

Wabtec Corporation (Westinghouse Air Brake Technologies Corporation) is a global provider of equipment, systems and services for the rail industry. The company supplies products and solutions to freight railroads, transit agencies and other industrial operators, focusing on technologies that improve the performance, safety and efficiency of locomotives and rail networks. Wabtec’s business spans new equipment manufacturing, aftermarket parts and services, and digital and control systems for rail operations.

Product and service offerings include locomotive systems and components, braking and air systems, propulsion and traction equipment, signaling and control technologies, and a range of aftermarket services such as maintenance, remanufacturing, parts distribution and fleet modernization.