AustralianSuper Pty Ltd Has $199.55 Million Stake in Wabtec $WAB

AustralianSuper Pty Ltd raised its holdings in Wabtec (NYSE:WAB) by 13.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 995,392 shares of the transportation company’s stock after buying an additional 121,331 shares during the quarter. Wabtec accounts for approximately 0.9% of AustralianSuper Pty Ltd’s holdings, making the stock its 22nd biggest holding. AustralianSuper Pty Ltd owned approximately 0.58% of Wabtec worth $199,546,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Colonial Trust Advisors raised 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 worth $26,000 after buying an additional 100 shares in the last quarter. Piscataqua Savings Bank grew its position in Wabtec by 12,800.0% in the third quarter. Piscataqua Savings Bank now owns 129 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 128 shares during the period. Motco grew its position in Wabtec by 6,600.0% in the third quarter. Motco now owns 134 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 132 shares during the period. Salomon & Ludwin LLC raised its stake 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 in the last quarter. Finally, Trust Co. of Vermont lifted its holdings in shares of Wabtec by 44.2% during the second quarter. Trust Co. of Vermont now owns 163 shares of the transportation company’s stock valued at $34,000 after acquiring an additional 50 shares during the period. 91.69% of the stock is owned by institutional investors.

Insider Transactions at Wabtec

In other Wabtec news, insider Michael Fetsko sold 5,058 shares of the company’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $215.72, for a total transaction of $1,091,111.76. Following the completion of the sale, the insider 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 legal filing with the SEC, which is accessible through this hyperlink. Also, CAO John A. Mastalerz, Jr. sold 2,766 shares of the stock in a transaction on 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 approximately $1,110,060. This trade represents a 34.35% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 28,863 shares of company stock valued at $6,093,588. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on WAB. Morgan Stanley raised their price objective on shares of Wabtec from $257.00 to $264.00 and gave the stock an “overweight” rating in a report on Monday, January 12th. Citigroup increased their price target on Wabtec from $245.00 to $258.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. JPMorgan Chase & Co. lifted their price objective on Wabtec from $215.00 to $245.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Bank of America boosted their price objective on Wabtec from $228.00 to $233.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Finally, Wolfe Research upgraded Wabtec from a “peer perform” rating to an “outperform” rating and set a $245.00 target price for the company in a research note on Thursday, January 8th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $241.00.

Wabtec Stock Down 1.4%

Shares of NYSE WAB opened at $228.44 on Thursday. Wabtec has a 1 year low of $151.81 and a 1 year high of $236.00. The firm’s 50-day moving average is $217.78 and its 200-day moving average is $204.28. The company has a current ratio of 1.42, a quick ratio of 0.75 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $39.05 billion, a PE ratio of 33.20, a price-to-earnings-growth ratio of 1.58 and a beta of 1.00.

Wabtec Company 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.