MJP Associates Inc. ADV Boosts Stake in Wabtec $WAB

MJP Associates Inc. ADV raised its stake in shares of Wabtec (NYSE:WAB) by 32.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,580 shares of the transportation company’s stock after buying an additional 872 shares during the quarter. MJP Associates Inc. ADV’s holdings in Wabtec were worth $749,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Creative Planning lifted its position in shares of Wabtec by 22.8% in the second quarter. Creative Planning now owns 23,709 shares of the transportation company’s stock valued at $4,963,000 after acquiring an additional 4,408 shares in the last quarter. SG Americas Securities LLC raised its stake in Wabtec by 19.4% in the 2nd quarter. SG Americas Securities LLC now owns 15,779 shares of the transportation company’s stock valued at $3,303,000 after purchasing an additional 2,568 shares during the last quarter. Pinnbrook Capital Management LP lifted its holdings in Wabtec by 82.8% in the 2nd quarter. Pinnbrook Capital Management LP now owns 45,822 shares of the transportation company’s stock valued at $9,593,000 after purchasing an additional 20,759 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Wabtec by 7.4% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 41,970 shares of the transportation company’s stock worth $8,786,000 after purchasing an additional 2,899 shares during the last quarter. Finally, Smithfield Trust Co boosted its stake in shares of Wabtec by 23.8% during the 2nd quarter. Smithfield Trust Co now owns 2,415 shares of the transportation company’s stock worth $506,000 after purchasing an additional 465 shares during the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Wabtec from $200.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of Wabtec in a report on Wednesday, October 8th. Susquehanna raised their price objective on Wabtec from $235.00 to $240.00 and gave the stock a “positive” rating in a report 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 note on Monday, July 28th. Finally, Wells Fargo & Company assumed coverage on Wabtec in a research report on Thursday. They set an “equal weight” rating and a $221.00 target price on the stock. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $226.78.

Insider Activity

In other Wabtec news, insider Pascal Schweitzer sold 3,000 shares of Wabtec stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $208.07, for a total transaction of $624,210.00. Following the transaction, the insider directly owned 4,955 shares of the company’s stock, valued at $1,030,986.85. The trade was a 37.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Rafael Santana sold 1,798 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $203.61, for a total transaction of $366,090.78. Following the sale, the chief executive officer owned 129,537 shares of the company’s stock, valued at approximately $26,375,028.57. This represents a 1.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 26,322 shares of company stock worth $5,315,871. Insiders own 1.10% of the company’s stock.

Wabtec Trading Down 0.3%

Shares of WAB opened at $203.60 on Friday. Wabtec has a twelve month low of $151.81 and a twelve month high of $216.10. The firm has a market capitalization of $34.81 billion, a P/E ratio of 29.59, a price-to-earnings-growth 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. The stock’s fifty day simple moving average is $197.45 and its 200 day simple moving average is $199.04.

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

Wabtec Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Wednesday, November 12th will be given a dividend of $0.25 per share. 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 14.53%.

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.