OFI Invest Asset Management Has $119,000 Stock Position in Wabtec $WAB

OFI Invest Asset Management lifted its stake in Wabtec (NYSE:WAB) by 51.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 568 shares of the transportation company’s stock after acquiring an additional 192 shares during the quarter. OFI Invest Asset Management’s holdings in Wabtec were worth $119,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Board of the Pension Protection Fund increased its position in shares of Wabtec by 760.0% in the second quarter. Board of the Pension Protection Fund now owns 8,600 shares of the transportation company’s stock valued at $1,800,000 after acquiring an additional 7,600 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in Wabtec by 22.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 18,619 shares of the transportation company’s stock worth $3,899,000 after purchasing an additional 3,449 shares during the period. Aberdeen Group plc grew its holdings in Wabtec by 0.4% during the second quarter. Aberdeen Group plc now owns 212,350 shares of the transportation company’s stock worth $44,486,000 after purchasing an additional 930 shares during the period. PDS Planning Inc grew its holdings in Wabtec by 12.9% during the second quarter. PDS Planning Inc now owns 1,891 shares of the transportation company’s stock worth $396,000 after purchasing an additional 216 shares during the period. Finally, L. Roy Papp & Associates LLP grew its holdings in Wabtec by 4.6% during the second quarter. L. Roy Papp & Associates LLP now owns 3,376 shares of the transportation company’s stock worth $707,000 after purchasing an additional 150 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

Wabtec Trading Down 2.4%

Shares of NYSE:WAB opened at $190.92 on Monday. Wabtec has a 12-month low of $151.81 and a 12-month high of $216.10. The stock has a market cap of $32.64 billion, a PE ratio of 28.50, a P/E/G ratio of 1.48 and a beta of 1.10. The business has a 50 day moving average of $192.98 and a 200-day moving average of $194.47. The company has a quick ratio of 1.05, a current ratio of 1.76 and a debt-to-equity ratio of 0.44.

Wabtec (NYSE:WAB) last issued its quarterly earnings data on Thursday, July 24th. The transportation company reported $2.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.18 by $0.09. Wabtec had a return on equity of 13.65% and a net margin of 10.92%.The company had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.76 billion. During the same quarter in the previous year, the company 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. As a group, equities research analysts forecast that Wabtec will post 8.54 earnings per share for the current year.

Wabtec Dividend Announcement

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

Insider Buying and Selling at Wabtec

In other news, CEO Rafael Santana sold 1,798 shares of Wabtec stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $189.63, for a total value of $340,954.74. Following the completion of the sale, the chief executive officer directly owned 134,931 shares in the company, valued at approximately $25,586,965.53. The trade was a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 4,483 shares of company stock valued at $853,558 in the last three months. 1.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on WAB. Weiss Ratings reiterated a “buy (b)” rating on shares of Wabtec in a report on Wednesday, October 8th. Susquehanna lifted their price target on Wabtec from $210.00 to $235.00 and gave the stock a “positive” rating in a report on Friday, July 25th. Wall Street Zen cut Wabtec from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Bank of America lifted their price target on Wabtec from $231.00 to $236.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Finally, Citigroup began coverage on Wabtec in a report on Monday, September 22nd. They set a “buy” rating and a $225.00 price objective for the company. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $222.88.

Wabtec Company Profile

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.