Wabtec $WAB Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. grew its position in Wabtec (NYSE:WAB) by 7.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 349,143 shares of the transportation company’s stock after purchasing an additional 24,408 shares during the period. Federated Hermes Inc. owned approximately 0.20% of Wabtec worth $69,993,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WAB. Empowered Funds LLC raised its stake in shares of Wabtec by 240.8% in the 2nd quarter. Empowered Funds LLC now owns 15,924 shares of the transportation company’s stock valued at $3,334,000 after purchasing an additional 11,252 shares in the last quarter. Varenne Capital Partners raised its holdings in shares of Wabtec by 39.5% during the second quarter. Varenne Capital Partners now owns 277,078 shares of the transportation company’s stock worth $58,006,000 after purchasing an additional 78,394 shares during the period. Quantbot Technologies LP bought a new position in shares of Wabtec in the 2nd quarter worth about $9,371,000. Mediolanum International Funds Ltd acquired a new position in shares of Wabtec in the 2nd quarter valued at about $8,201,000. Finally, Neuberger Berman Group LLC grew its position in shares of Wabtec by 5.2% during the 2nd quarter. Neuberger Berman Group LLC now owns 229,233 shares of the transportation company’s stock valued at $47,990,000 after buying an additional 11,406 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Wabtec Stock Down 1.4%

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

Insiders Place Their Bets

In related news, EVP Gregory Sbrocco sold 2,424 shares of the stock in a transaction on Friday, October 31st. The stock was sold at an average price of $203.77, for a total transaction of $493,938.48. Following the completion of the sale, the executive vice president directly owned 15,405 shares in the company, valued at approximately $3,139,076.85. This trade represents a 13.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Fetsko sold 5,058 shares of the company’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $215.72, for a total value of $1,091,111.76. Following the completion of the transaction, the insider directly owned 36,882 shares in the company, valued at approximately $7,956,185.04. The trade was a 12.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 28,863 shares of company stock valued at $6,093,588 in the last three months. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Morgan Stanley raised their target price on shares of Wabtec from $257.00 to $264.00 and gave the stock an “overweight” rating in a report on Monday, January 12th. JPMorgan Chase & Co. lifted their price objective on shares of 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 raised their price objective on shares of Wabtec from $228.00 to $233.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Citigroup boosted their price target on shares of Wabtec from $245.00 to $258.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. Finally, Susquehanna increased their target price on shares of Wabtec from $240.00 to $280.00 and gave the company a “positive” rating in a research note on Monday. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Wabtec has a consensus rating of “Moderate Buy” and an average price target of $241.00.

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.