Allstate Corp Purchases Shares of 6,315 Wabtec $WAB

Allstate Corp purchased a new stake in Wabtec (NYSE:WAB) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,315 shares of the transportation company’s stock, valued at approximately $1,266,000.

Several other institutional investors have also recently modified their holdings of the stock. PFS Partners LLC grew its holdings in Wabtec by 70.4% during the 2nd quarter. PFS Partners LLC now owns 121 shares of the transportation company’s stock valued at $25,000 after buying an additional 50 shares during the last quarter. Colonial Trust Advisors raised its holdings in shares of Wabtec by 454.5% in the second quarter. Colonial Trust Advisors now owns 122 shares of the transportation company’s stock worth $26,000 after acquiring an additional 100 shares during the last quarter. Piscataqua Savings Bank lifted its position 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 valued at $26,000 after acquiring an additional 128 shares in the last quarter. Motco boosted its stake in shares of Wabtec by 6,600.0% during 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 last quarter. Finally, Salomon & Ludwin LLC increased its position in Wabtec by 370.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 160 shares of the transportation company’s stock worth $32,000 after purchasing an additional 126 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Wabtec Stock Down 0.9%

WAB opened at $227.57 on Wednesday. Wabtec has a 1 year low of $151.81 and a 1 year high of $230.71. The firm has a 50 day moving average price of $214.28 and a 200 day moving average price of $203.44. 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 company has a market cap of $38.91 billion, a PE ratio of 33.08, a price-to-earnings-growth ratio of 1.56 and a beta of 1.00.

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

Insider Transactions at Wabtec

In other Wabtec news, CEO Rafael Santana sold 1,798 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $212.17, for a total value of $381,481.66. Following the transaction, the chief executive officer directly owned 125,941 shares of the company’s stock, valued at $26,720,901.97. This trade represents a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael Fetsko sold 5,058 shares of the business’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 transaction, the insider owned 36,882 shares in the company, valued at approximately $7,956,185.04. This represents a 12.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 33,916 shares of company stock worth $7,090,420 in the last quarter. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on WAB shares. Susquehanna raised their price target on shares of Wabtec from $235.00 to $240.00 and gave the stock a “positive” rating in a research note on Thursday, October 23rd. Wolfe Research upgraded shares of Wabtec from a “peer perform” rating to an “outperform” rating and set a $245.00 target price on the stock in a research report on Thursday, January 8th. Morgan Stanley lifted their target price on shares of Wabtec from $257.00 to $264.00 and gave the stock an “overweight” rating in a research note on Monday, January 12th. JPMorgan Chase & Co. boosted their price target on Wabtec from $215.00 to $245.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Wabtec in a report on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $237.00.

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.