Jupiter Asset Management Ltd. Sells 35,775 Shares of Wabtec $WAB

Jupiter Asset Management Ltd. decreased its holdings in Wabtec (NYSE:WAB) by 24.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 107,769 shares of the transportation company’s stock after selling 35,775 shares during the period. Jupiter Asset Management Ltd. owned 0.06% of Wabtec worth $22,561,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pacer Advisors Inc. raised its position in shares of 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 buying an additional 706,227 shares in the last quarter. Aviva PLC grew its holdings in shares of Wabtec by 7,960.0% in the second 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. Nordea Investment Management AB boosted its holdings 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 purchasing an additional 398,782 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in shares of Wabtec by 56.3% in the second quarter. Robeco Institutional Asset Management B.V. now owns 778,156 shares of the transportation company’s stock valued at $162,907,000 after acquiring an additional 280,140 shares in the last quarter. Finally, Boston Partners raised its position in shares of Wabtec by 8.7% in the 2nd quarter. Boston Partners now owns 2,255,994 shares of the transportation company’s stock worth $470,267,000 after acquiring an additional 180,786 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.

Insider Buying and Selling at Wabtec

In other Wabtec news, VP David L. Deninno sold 2,100 shares of Wabtec stock in a transaction that occurred 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 transaction, the vice president directly owned 60,450 shares of the company’s stock, valued at $12,082,141.50. The trade was a 3.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Gregory Sbrocco sold 2,953 shares of the firm’s stock in a transaction dated Thursday, October 23rd. The shares were sold at an average price of $195.43, for a total value of $577,104.79. Following the completion of the transaction, the executive vice president directly owned 17,829 shares in the company, valued at $3,484,321.47. This trade represents a 14.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 18,556 shares of company stock valued at $3,685,311. Company insiders own 1.10% of the company’s stock.

Wabtec Trading Up 0.9%

NYSE WAB opened at $209.73 on Thursday. The firm’s fifty day moving average price is $197.04 and its 200 day moving average price is $198.86. Wabtec has a 12 month low of $151.81 and a 12 month high of $216.10. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.75. The company has a market capitalization of $35.85 billion, a price-to-earnings ratio of 30.48, a price-to-earnings-growth ratio of 1.55 and a beta of 1.09.

Wabtec (NYSE:WAB) last announced its earnings results on Wednesday, October 22nd. The transportation company reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $0.04. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.88 billion. Wabtec had a net margin of 10.94% and a return on equity of 13.84%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the firm posted $2.00 earnings per share. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. On average, sell-side analysts expect that Wabtec will post 8.54 earnings per share for the current fiscal year.

Wabtec Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Wednesday, November 12th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, November 12th. Wabtec’s dividend payout ratio is presently 14.53%.

Analyst Ratings Changes

A number of analysts have recently weighed in on WAB shares. Citigroup started coverage on Wabtec in a research report on Monday, September 22nd. They issued a “buy” rating and a $225.00 price objective for the company. Morgan Stanley boosted their price objective on shares of Wabtec from $220.00 to $226.00 and gave the company an “overweight” rating in a report on Monday, July 28th. JPMorgan Chase & Co. lifted their price target on Wabtec from $200.00 to $215.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Susquehanna lifted their target price on Wabtec from $235.00 to $240.00 and gave the stock a “positive” rating in a report on Thursday, October 23rd. Finally, Wall Street Zen downgraded shares of Wabtec from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $225.38.

About Wabtec

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.