Thrivent Financial for Lutherans Sells 4,327 Shares of Wabtec $WAB

Thrivent Financial for Lutherans lessened its stake in shares of Wabtec (NYSE:WAB) by 19.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,666 shares of the transportation company’s stock after selling 4,327 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Wabtec were worth $3,699,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in WAB. PFS Partners LLC boosted its position in 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 in the last quarter. Colonial Trust Advisors lifted its position in shares of Wabtec by 454.5% during the second quarter. Colonial Trust Advisors now owns 122 shares of the transportation company’s stock valued at $26,000 after buying an additional 100 shares during the last quarter. Trust Co. of Vermont boosted its holdings in shares of Wabtec by 44.2% in the 2nd 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. grew its position in shares of Wabtec by 30.2% in the 2nd quarter. ST Germain D J Co. Inc. now owns 207 shares of the transportation company’s stock worth $43,000 after buying an additional 48 shares during the last quarter. Finally, Ameritas Advisory Services LLC bought a new position in shares of Wabtec during the 2nd quarter worth approximately $44,000. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Wabtec Stock Performance

Shares of WAB opened at $216.03 on Friday. 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 has a 50-day moving average of $204.95 and a two-hundred day moving average of $200.97. The stock has a market cap of $36.93 billion, a P/E ratio of 31.40, a P/E/G ratio of 1.66 and a beta of 0.99. Wabtec has a one year low of $151.81 and a one year high of $220.89.

Wabtec (NYSE:WAB) last announced its quarterly earnings data 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 return on equity of 13.84% and a net margin of 10.94%.The firm had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.88 billion. During the same period last year, the business posted $2.00 earnings per share. The company’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. As a group, research analysts predict that Wabtec will post 8.54 EPS for the current year.

Wabtec Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th were paid 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 payout ratio is presently 14.53%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Susquehanna raised their target price on shares of Wabtec from $235.00 to $240.00 and gave the company a “positive” rating in a research note on Thursday, October 23rd. Bank of America raised their price objective on Wabtec from $228.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wabtec in a research report 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 note on Tuesday, October 14th. Finally, Citigroup boosted their price target on Wabtec from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Wabtec currently has a consensus rating of “Moderate Buy” and a consensus target price of $227.11.

Insiders Place Their Bets

In other news, insider Rogerio Mendonca sold 2,019 shares of the stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $214.51, for a total value of $433,095.69. Following the sale, the insider owned 9,516 shares in the company, valued at $2,041,277.16. This represents a 17.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP David L. Deninno sold 5,000 shares of the business’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $214.62, for a total transaction of $1,073,100.00. Following the transaction, the vice president 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 disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 35,714 shares of company stock worth $7,441,102. Company insiders own 1.10% of the company’s stock.

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.