Boston Common Asset Management LLC Sells 13,691 Shares of Wabtec $WAB

Boston Common Asset Management LLC lowered its stake in Wabtec (NYSE:WAB) by 13.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 88,793 shares of the transportation company’s stock after selling 13,691 shares during the period. Boston Common Asset Management LLC owned approximately 0.05% of Wabtec worth $17,800,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of WAB. Vanguard Group Inc. increased its stake in Wabtec by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 19,930,893 shares of the transportation company’s stock worth $4,172,532,000 after purchasing an additional 493,437 shares during the period. Geode Capital Management LLC grew its holdings in shares of Wabtec by 0.7% in the second quarter. Geode Capital Management LLC now owns 4,288,014 shares of the transportation company’s stock worth $893,830,000 after purchasing an additional 30,489 shares during the last quarter. Boston Partners increased its stake in shares of Wabtec by 9.0% in the second quarter. Boston Partners now owns 2,261,456 shares of the transportation company’s stock worth $471,410,000 after buying an additional 186,248 shares during the period. Nordea Investment Management AB raised its holdings in Wabtec by 24.0% during the 3rd quarter. Nordea Investment Management AB now owns 1,974,257 shares of the transportation company’s stock valued at $393,252,000 after buying an additional 381,728 shares during the last quarter. Finally, Norges Bank purchased a new stake in Wabtec during the 2nd quarter valued at $347,194,000. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO John A. Mastalerz, Jr. sold 2,766 shares of the stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $210.00, for a total value of $580,860.00. Following the completion of the transaction, the chief accounting officer directly owned 5,286 shares in the company, valued at $1,110,060. This trade represents a 34.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gregory Sbrocco sold 2,424 shares of Wabtec stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $203.77, for a total transaction of $493,938.48. Following the transaction, the executive vice president directly owned 15,405 shares of the company’s stock, valued at approximately $3,139,076.85. This trade represents a 13.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 30,963 shares of company stock valued at $6,513,315 in the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

WAB has been the subject of several recent analyst reports. Morgan Stanley upped their price objective on shares of Wabtec from $257.00 to $264.00 and gave the company an “overweight” rating in a research note on Monday, January 12th. Susquehanna boosted their price target on Wabtec from $235.00 to $240.00 and gave the company a “positive” rating in a report on Thursday, October 23rd. Citigroup upped their price target on Wabtec from $245.00 to $258.00 and gave the company a “buy” rating in a research report on Friday, January 9th. Wells Fargo & Company lifted their price objective on Wabtec from $221.00 to $224.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 17th. Finally, Wolfe Research raised Wabtec from a “peer perform” rating to an “outperform” rating and set a $245.00 target price on the stock in a research note on Thursday, January 8th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $237.00.

Wabtec Stock Performance

Wabtec stock opened at $233.00 on Thursday. Wabtec has a fifty-two week low of $151.81 and a fifty-two week high of $234.70. The stock’s 50 day simple moving average is $214.74 and its two-hundred day simple moving average is $203.65. 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 market cap of $39.83 billion, a price-to-earnings ratio of 33.87, a PEG ratio of 1.55 and a beta of 1.00.

Wabtec (NYSE:WAB) last released its earnings results on Wednesday, October 22nd. The transportation company reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $2.28 by $0.04. Wabtec had a return on equity of 13.84% and a net margin of 10.94%.The company had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter last year, the business posted $2.00 EPS. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, analysts expect that Wabtec will post 8.54 earnings per share for the current fiscal year.

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.