Wabtec $WAB Holdings Raised by ABN Amro Investment Solutions

ABN Amro Investment Solutions boosted its stake in Wabtec (NYSE:WAB) by 2.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 102,085 shares of the transportation company’s stock after buying an additional 2,211 shares during the period. ABN Amro Investment Solutions owned 0.06% of Wabtec worth $25,512,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Whipplewood Advisors LLC acquired a new position in shares of Wabtec during the first quarter valued at approximately $25,000. Clal Insurance Enterprises Holdings Ltd boosted its stake in Wabtec by 125.9% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 131 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 73 shares in the last quarter. Manchester Capital Management LLC boosted its stake in Wabtec by 122.0% during the 4th quarter. Manchester Capital Management LLC now owns 131 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 72 shares in the last quarter. McMillan Office Inc. acquired a new position in shares of Wabtec during the 4th quarter valued at $31,000. Finally, Reflection Asset Management acquired a new position in shares of Wabtec during the 4th quarter valued at $35,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Wells Fargo & Company upped their price objective on Wabtec from $270.00 to $284.00 and gave the company an “equal weight” rating in a report on Thursday, April 23rd. Wolfe Research reissued an “outperform” rating and issued a $303.00 price target on shares of Wabtec in a report on Thursday, April 23rd. Susquehanna restated a “positive” rating and set a $305.00 price objective on shares of Wabtec in a research report on Thursday, April 23rd. Stephens raised shares of Wabtec to a “strong-buy” rating in a research note on Wednesday, July 8th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $318.00 target price on shares of Wabtec in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $293.36.

Insider Buying and Selling at Wabtec

In other news, CEO Rafael Santana sold 1,163 shares of Wabtec stock in a transaction on Monday, July 6th. The stock was sold at an average price of $262.07, for a total transaction of $304,787.41. Following the transaction, the chief executive officer owned 122,914 shares in the company, valued at approximately $32,212,071.98. The trade was a 0.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sameer Gaur sold 1,082 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $263.50, for a total value of $285,107.00. Following the transaction, the insider directly owned 11,985 shares in the company, valued at $3,158,047.50. The trade was a 8.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 5,734 shares of company stock worth $1,504,571. Company insiders own 0.57% of the company’s stock.

Wabtec Trading Up 1.8%

Shares of NYSE WAB opened at $262.43 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 1.02 and a debt-to-equity ratio of 0.42. Wabtec has a 12 month low of $184.26 and a 12 month high of $284.91. The company has a market cap of $44.53 billion, a price-to-earnings ratio of 37.12, a P/E/G ratio of 1.84 and a beta of 0.94. The business has a fifty day simple moving average of $263.96 and a 200-day simple moving average of $253.72.

Wabtec (NYSE:WAB) last posted its quarterly earnings data on Wednesday, April 22nd. The transportation company reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.09. The firm had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $3.08 billion. Wabtec had a return on equity of 14.52% and a net margin of 10.52%.The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.28 EPS. Sell-side analysts predict that Wabtec will post 10.64 EPS for the current year.

Wabtec Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, August 18th. Wabtec’s payout ratio is 17.54%.

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.