KBC Group NV Raises Position in Wabtec $WAB

KBC Group NV increased its holdings in shares of Wabtec (NYSE:WAB) by 168.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 138,638 shares of the transportation company’s stock after buying an additional 87,037 shares during the quarter. KBC Group NV’s holdings in Wabtec were worth $29,024,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in WAB. Boston Partners boosted its holdings in Wabtec by 8.7% in the second 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. Nordea Investment Management AB boosted its stake in Wabtec by 33.4% in the 2nd quarter. Nordea Investment Management AB now owns 1,592,529 shares of the transportation company’s stock worth $333,062,000 after purchasing an additional 398,782 shares in the last quarter. AustralianSuper Pty Ltd grew its position in Wabtec by 11.5% during the 2nd quarter. AustralianSuper Pty Ltd now owns 874,061 shares of the transportation company’s stock worth $182,985,000 after purchasing an additional 90,392 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake 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 in the last quarter. Finally, Pacer Advisors Inc. raised its holdings in shares of Wabtec by 2,220.1% in the first quarter. Pacer Advisors Inc. now owns 738,038 shares of the transportation company’s stock worth $133,843,000 after buying an additional 706,227 shares during the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on WAB. Wells Fargo & Company assumed coverage on shares of Wabtec in a report on Thursday. They set a “positive” rating and a $221.00 price objective on the stock. Bank of America boosted their price target on Wabtec from $228.00 to $233.00 and gave the company a “buy” rating in a research note on Thursday. Susquehanna raised their price objective on Wabtec from $235.00 to $240.00 and gave the stock a “positive” rating in a research note on Thursday, October 23rd. Morgan Stanley upped their target price on Wabtec from $220.00 to $226.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Wabtec in a report on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $224.56.

Wabtec Stock Performance

Shares of WAB stock opened at $204.01 on Friday. Wabtec has a 52-week low of $151.81 and a 52-week high of $216.10. The company has a quick ratio of 0.75, a current ratio of 1.42 and a debt-to-equity ratio of 0.45. The stock has a market cap of $34.88 billion, a PE ratio of 29.65, a price-to-earnings-growth ratio of 1.55 and a beta of 1.09. The business has a 50-day simple moving average of $197.24 and a 200-day simple moving average of $198.90.

Wabtec (NYSE:WAB) last announced its quarterly earnings results on Wednesday, October 22nd. The transportation company reported $2.32 earnings per share 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 analysts’ expectations of $2.88 billion. During the same period last year, the business earned $2.00 earnings per share. Wabtec’s quarterly revenue was up 8.4% on a year-over-year basis. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. On average, equities analysts expect that Wabtec will post 8.54 EPS for the current year.

Wabtec Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Wednesday, November 12th. Wabtec’s payout ratio is currently 14.53%.

Insider Activity

In related news, CEO Rafael Santana sold 1,799 shares of the firm’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $189.97, for a total transaction of $341,756.03. Following the sale, the chief executive officer owned 136,729 shares in the company, valued at approximately $25,974,408.13. This trade represents a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gregory Sbrocco sold 2,953 shares of Wabtec 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 completion of the transaction, the executive vice president directly owned 17,829 shares of the company’s stock, valued at $3,484,321.47. The trade was a 14.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 18,556 shares of company stock valued at $3,685,311. 1.10% of the stock is currently owned by company insiders.

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.