Wabtec $WAB Stock Holdings Lifted by Intact Investment Management Inc.

Intact Investment Management Inc. grew its position in Wabtec (NYSE:WAB) by 160.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,980 shares of the transportation company’s stock after purchasing an additional 11,080 shares during the period. Intact Investment Management Inc.’s holdings in Wabtec were worth $3,604,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in WAB. Norges Bank acquired a new position in Wabtec in the second quarter worth approximately $347,194,000. Qube Research & Technologies Ltd bought a new stake in Wabtec in the second quarter worth approximately $121,612,000. Aviva PLC increased its stake in shares of Wabtec by 7,960.0% during the 2nd quarter. Aviva PLC now owns 527,685 shares of the transportation company’s stock worth $110,471,000 after purchasing an additional 521,138 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Wabtec by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 19,930,893 shares of the transportation company’s stock valued at $4,172,532,000 after purchasing an additional 493,437 shares in the last quarter. Finally, Amundi lifted its stake in shares of Wabtec by 36.8% in the 2nd quarter. Amundi now owns 1,614,789 shares of the transportation company’s stock valued at $345,371,000 after purchasing an additional 434,401 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on WAB. Wells Fargo & Company upped their price objective on shares of Wabtec from $221.00 to $224.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 17th. Susquehanna upped their price target on Wabtec from $240.00 to $280.00 and gave the stock a “positive” rating in a research note on Monday. Bank of America increased their price objective on Wabtec from $228.00 to $233.00 and gave the company a “buy” rating in a report on Thursday, November 13th. JPMorgan Chase & Co. boosted their target price on Wabtec from $215.00 to $245.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Finally, Morgan Stanley upped their target price on Wabtec from $257.00 to $264.00 and gave the stock an “overweight” rating in a research report on Monday, January 12th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $241.00.

Insider Buying and Selling at Wabtec

In other news, EVP Gregory Sbrocco sold 2,424 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $203.77, for a total transaction of $493,938.48. Following the completion of the transaction, the executive vice president owned 15,405 shares of the company’s stock, valued at approximately $3,139,076.85. This represents a 13.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pascal Schweitzer sold 3,000 shares of Wabtec stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $208.07, for a total value of $624,210.00. Following the sale, the insider directly owned 4,955 shares in the company, valued at approximately $1,030,986.85. This trade represents a 37.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 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.

Wabtec Stock Up 0.6%

WAB opened at $231.46 on Tuesday. The business has a 50 day moving average of $216.50 and a 200-day moving average of $203.98. The stock has a market capitalization of $39.57 billion, a price-to-earnings ratio of 33.64, a P/E/G ratio of 1.57 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.

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.