Allianz Asset Management GmbH Grows Stock Position in Wabtec $WAB

Allianz Asset Management GmbH raised its holdings in Wabtec (NYSE:WAB) by 8.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 87,595 shares of the transportation company’s stock after purchasing an additional 6,638 shares during the period. Allianz Asset Management GmbH owned 0.05% of Wabtec worth $17,560,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Keeler Thomas Management LLC grew its holdings in Wabtec by 1.5% during the 3rd quarter. Keeler Thomas Management LLC now owns 6,889 shares of the transportation company’s stock valued at $1,381,000 after buying an additional 104 shares during the last quarter. Jones Financial Companies Lllp lifted its position in shares of Wabtec by 22.1% in the third quarter. Jones Financial Companies Lllp now owns 2,583 shares of the transportation company’s stock valued at $508,000 after acquiring an additional 467 shares in the last quarter. Mediolanum International Funds Ltd boosted its stake in shares of Wabtec by 59.2% during the third quarter. Mediolanum International Funds Ltd now owns 62,868 shares of the transportation company’s stock valued at $12,421,000 after acquiring an additional 23,379 shares during the last quarter. Howard Capital Management Inc. boosted its stake in shares of Wabtec by 26.5% during the third quarter. Howard Capital Management Inc. now owns 17,518 shares of the transportation company’s stock valued at $3,512,000 after acquiring an additional 3,665 shares during the last quarter. Finally, National Pension Service increased its position in Wabtec by 4.5% during the 3rd quarter. National Pension Service now owns 285,391 shares of the transportation company’s stock worth $57,212,000 after purchasing an additional 12,338 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Wabtec Stock Performance

Shares of WAB stock opened at $246.56 on Friday. The company’s fifty day simple moving average is $222.44 and its 200-day simple moving average is $205.53. 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 52 week low of $151.81 and a 52 week high of $246.68. The company has a market cap of $42.15 billion, a PE ratio of 35.84, a P/E/G ratio of 1.68 and a beta of 1.01.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Morgan Stanley upped their target price on shares of Wabtec from $257.00 to $264.00 and gave the company an “overweight” rating in a report on Monday, January 12th. Weiss Ratings reissued a “buy (b)” rating on shares of Wabtec in a research note on Wednesday, January 21st. Wells Fargo & Company lifted their target price on shares of Wabtec from $221.00 to $224.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 17th. Susquehanna boosted their price target on Wabtec from $240.00 to $280.00 and gave the company a “positive” rating in a report on Monday, January 26th. Finally, Bank of America raised their price objective on Wabtec from $228.00 to $233.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $241.00.

Insider Activity at Wabtec

In other news, insider Rogerio Mendonca sold 2,019 shares of the stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $214.51, for a total transaction of $433,095.69. Following the transaction, the insider owned 9,516 shares of the company’s stock, valued at approximately $2,041,277.16. This trade represents a 17.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP David L. Deninno sold 5,000 shares of the business’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $214.62, for a total value of $1,073,100.00. Following the completion of the sale, the vice president directly owned 50,450 shares of the company’s stock, valued at approximately $10,827,579. This represents a 9.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 24,641 shares of company stock valued at $5,233,559. 1.10% of the stock is currently owned by insiders.

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.