BAM Wealth Management LLC Makes New $833,000 Investment in Wabtec $WAB

BAM Wealth Management LLC acquired a new stake in Wabtec (NYSE:WAB) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,156 shares of the transportation company’s stock, valued at approximately $833,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. PFS Partners LLC lifted 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 during the period. Colonial Trust Advisors lifted its holdings in shares of Wabtec by 454.5% in the 2nd 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 period. Piscataqua Savings Bank boosted its stake in shares of Wabtec by 12,800.0% in the third quarter. Piscataqua Savings Bank now owns 129 shares of the transportation company’s stock worth $26,000 after buying an additional 128 shares during the last quarter. Motco boosted its stake in shares of Wabtec by 6,600.0% in the third quarter. Motco now owns 134 shares of the transportation company’s stock worth $27,000 after buying an additional 132 shares during the last quarter. Finally, Salomon & Ludwin LLC grew its holdings in Wabtec by 370.6% during the third quarter. Salomon & Ludwin LLC now owns 160 shares of the transportation company’s stock worth $32,000 after acquiring an additional 126 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

Wabtec Stock Down 1.6%

Shares of NYSE WAB opened at $230.04 on Friday. The firm has a market cap of $39.33 billion, a price-to-earnings ratio of 33.44, a price-to-earnings-growth ratio of 1.59 and a beta of 1.00. The company’s 50-day simple moving average is $215.86 and its 200-day simple moving average is $203.98. 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 52-week low of $151.81 and a 52-week high of $236.00.

Wabtec (NYSE:WAB) last released its quarterly earnings results on Wednesday, October 22nd. The transportation company reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.04. The firm had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.88 billion. Wabtec had a net margin of 10.94% and a return on equity of 13.84%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.00 EPS. Equities analysts predict that Wabtec will post 8.54 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO John A. Mastalerz, Jr. sold 2,766 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $210.00, for a total transaction of $580,860.00. Following the completion of the sale, the chief accounting officer directly owned 5,286 shares in the company, valued at approximately $1,110,060. The trade was a 34.35% 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 the SEC website. Also, EVP Gregory Sbrocco sold 2,424 shares of the firm’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $203.77, for a total value of $493,938.48. Following the completion of the transaction, the executive vice president owned 15,405 shares in the company, valued at $3,139,076.85. The trade was a 13.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 30,963 shares of company stock valued at $6,513,315. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on WAB shares. Weiss Ratings restated a “buy (b)” rating on shares of Wabtec in a research report on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Wabtec from $215.00 to $245.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Wolfe Research raised shares of Wabtec from a “peer perform” rating to an “outperform” rating and set a $245.00 price objective for the company in a report on Thursday, January 8th. Morgan Stanley upped their price objective on shares of Wabtec from $257.00 to $264.00 and gave the stock an “overweight” rating in a research report on Monday, January 12th. Finally, Wells Fargo & Company raised their target price on Wabtec from $221.00 to $224.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 17th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $237.00.

About Wabtec

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.