Board of the Pension Protection Fund Raises Stock Position in Wabtec $WAB

Board of the Pension Protection Fund grew its holdings in Wabtec (NYSE:WABFree Report) by 760.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,600 shares of the transportation company’s stock after purchasing an additional 7,600 shares during the quarter. Wabtec makes up approximately 1.9% of Board of the Pension Protection Fund’s holdings, making the stock its 4th biggest holding. Board of the Pension Protection Fund’s holdings in Wabtec were worth $1,800,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Wabtec by 22.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 18,619 shares of the transportation company’s stock valued at $3,899,000 after purchasing an additional 3,449 shares during the last quarter. Aberdeen Group plc boosted its stake in shares of Wabtec by 0.4% in the 2nd quarter. Aberdeen Group plc now owns 212,350 shares of the transportation company’s stock valued at $44,486,000 after purchasing an additional 930 shares during the last quarter. PDS Planning Inc boosted its stake in shares of Wabtec by 12.9% in the 2nd quarter. PDS Planning Inc now owns 1,891 shares of the transportation company’s stock valued at $396,000 after purchasing an additional 216 shares during the last quarter. L. Roy Papp & Associates LLP boosted its stake in shares of Wabtec by 4.6% in the 2nd quarter. L. Roy Papp & Associates LLP now owns 3,376 shares of the transportation company’s stock valued at $707,000 after purchasing an additional 150 shares during the last quarter. Finally, 3Chopt Investment Partners LLC bought a new position in shares of Wabtec in the 2nd quarter valued at about $214,000. Institutional investors own 91.69% of the company’s stock.

Wabtec Stock Performance

Shares of WAB opened at $190.92 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.76. Wabtec has a twelve month low of $151.81 and a twelve month high of $216.10. The firm’s 50 day moving average price is $192.98 and its two-hundred day moving average price is $194.42. The firm has a market cap of $32.64 billion, a P/E ratio of 28.50, a PEG ratio of 1.48 and a beta of 1.10.

Wabtec (NYSE:WABGet Free Report) last announced its quarterly earnings results on Thursday, July 24th. The transportation company reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $0.09. Wabtec had a net margin of 10.92% and a return on equity of 13.65%. The firm had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same quarter in the previous year, the firm posted $1.96 earnings per share. The business’s revenue was up 2.3% on a year-over-year basis. Wabtec has set its FY 2025 guidance at 8.550-9.150 EPS. On average, analysts forecast that Wabtec will post 8.54 EPS for the current fiscal year.

Wabtec Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. Wabtec’s payout ratio is presently 14.93%.

Insiders Place Their Bets

In other Wabtec news, CEO Rafael Santana sold 1,799 shares of Wabtec stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $189.97, for a total value of $341,756.03. Following the transaction, the chief executive officer owned 136,729 shares of the company’s stock, valued at approximately $25,974,408.13. The trade was a 1.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold a total of 4,483 shares of company stock valued at $853,558 over the last 90 days. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Citigroup started coverage on shares of Wabtec in a research note on Monday, September 22nd. They issued a “buy” rating and a $225.00 target price on the stock. Wall Street Zen lowered shares of Wabtec from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. KeyCorp reissued an “overweight” rating and set a $240.00 price objective (up previously from $220.00) on shares of Wabtec in a research note on Tuesday, June 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Wabtec in a research note on Wednesday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Wabtec from $216.00 to $200.00 and set a “neutral” rating on the stock in a research note on Thursday, August 14th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $222.88.

Get Our Latest Stock Report on Wabtec

Wabtec Company Profile

(Free Report)

Westinghouse Air Brake Technologies Corporation, together with its subsidiaries, provides technology-based locomotives, equipment, systems, and services for the freight rail and passenger transit industries worldwide. It offers diesel-electric, battery, and liquid natural gas-powered locomotives; engines, electric motors, and propulsion systems; and marine and mining products.

Further Reading

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Institutional Ownership by Quarter for Wabtec (NYSE:WAB)

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