Kinsale Capital Group Inc. Acquires 3,332 Shares of Wabtec $WAB

Kinsale Capital Group Inc. raised its stake in shares of Wabtec (NYSE:WAB) by 7.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 45,973 shares of the transportation company’s stock after purchasing an additional 3,332 shares during the period. Wabtec accounts for approximately 2.0% of Kinsale Capital Group Inc.’s investment portfolio, making the stock its 18th biggest position. Kinsale Capital Group Inc.’s holdings in Wabtec were worth $9,625,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Nordea Investment Management AB increased its stake in shares of Wabtec by 33.4% in the second quarter. Nordea Investment Management AB now owns 1,592,529 shares of the transportation company’s stock valued at $333,062,000 after buying an additional 398,782 shares during the period. AustralianSuper Pty Ltd boosted its holdings in Wabtec by 11.5% in the second quarter. AustralianSuper Pty Ltd now owns 874,061 shares of the transportation company’s stock valued at $182,985,000 after acquiring an additional 90,392 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in Wabtec by 56.3% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 778,156 shares of the transportation company’s stock valued at $162,907,000 after purchasing an additional 280,140 shares during the period. Pacer Advisors Inc. increased its position in Wabtec by 2,220.1% during the 1st quarter. Pacer Advisors Inc. now owns 738,038 shares of the transportation company’s stock valued at $133,843,000 after purchasing an additional 706,227 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in Wabtec by 8.7% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 439,144 shares of the transportation company’s stock worth $91,935,000 after purchasing an additional 35,088 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

Wabtec Price Performance

Shares of NYSE WAB opened at $206.13 on Friday. The firm’s 50-day moving average price is $196.02 and its 200-day moving average price is $198.15. Wabtec has a 1-year low of $151.81 and a 1-year high of $216.10. The firm has a market capitalization of $35.24 billion, a P/E ratio of 29.96, a P/E/G ratio of 1.55 and a beta of 1.09. 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 (NYSE:WAB) last issued its earnings results on Wednesday, October 22nd. The transportation company reported $2.32 EPS for the quarter, beating the consensus estimate of $2.28 by $0.04. Wabtec had a return on equity of 13.84% and a net margin of 10.94%.The company had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same period last year, the business posted $2.00 EPS. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. Equities research analysts anticipate that Wabtec will post 8.54 earnings per share for the current fiscal year.

Wabtec Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Wabtec’s payout ratio is currently 14.53%.

Analysts Set New Price Targets

A number of research firms have recently commented on WAB. Wall Street Zen lowered shares of Wabtec from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wabtec in a research report on Wednesday, October 8th. Citigroup initiated coverage on Wabtec in a report on Monday, September 22nd. They set a “buy” rating and a $225.00 price target for the company. Susquehanna boosted their price objective on Wabtec from $235.00 to $240.00 and gave the company a “positive” rating in a research note on Thursday, October 23rd. Finally, JPMorgan Chase & Co. upped their target price on Wabtec from $200.00 to $215.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Wabtec presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.38.

Insider Transactions at Wabtec

In other Wabtec news, EVP Gregory Sbrocco sold 2,953 shares of the company’s stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of $195.43, for a total transaction of $577,104.79. Following the transaction, the executive vice president owned 17,829 shares in the company, valued at approximately $3,484,321.47. This represents a 14.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP David L. Deninno sold 2,100 shares of the firm’s stock in a transaction on Tuesday, October 28th. The shares were sold at an average price of $199.87, for a total transaction of $419,727.00. Following the completion of the transaction, the vice president directly owned 60,450 shares in the company, valued at $12,082,141.50. This trade represents a 3.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 15,556 shares of company stock valued at $3,061,101 over the last ninety days. 1.10% of the stock is owned by company insiders.

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.