Southeast Asset Advisors LLC Has $4.68 Million Holdings in Wabtec $WAB

Southeast Asset Advisors LLC decreased its position in shares of Wabtec (NYSE:WAB) by 6.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,330 shares of the transportation company’s stock after selling 1,639 shares during the quarter. Wabtec comprises approximately 0.6% of Southeast Asset Advisors LLC’s investment portfolio, making the stock its 27th largest position. Southeast Asset Advisors LLC’s holdings in Wabtec were worth $4,675,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Aviva PLC increased its position in shares of Wabtec by 7,960.0% during the second quarter. Aviva PLC now owns 527,685 shares of the transportation company’s stock worth $110,471,000 after buying an additional 521,138 shares during the period. Vanguard Group Inc. boosted its position in Wabtec by 2.5% during the second quarter. Vanguard Group Inc. now owns 19,930,893 shares of the transportation company’s stock valued at $4,172,532,000 after acquiring an additional 493,437 shares during the last quarter. Nordea Investment Management AB boosted its position in Wabtec by 33.4% during 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 acquiring an additional 398,782 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings 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 worth $162,907,000 after acquiring an additional 280,140 shares during the period. 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. 91.69% of the stock is owned by institutional investors.

Insider Activity at Wabtec

In related news, CAO John A. Mastalerz, Jr. sold 2,766 shares of the stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $210.00, for a total value of $580,860.00. Following the completion of the sale, the chief accounting officer directly owned 5,286 shares of the company’s stock, valued at approximately $1,110,060. This represents a 34.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Pascal Schweitzer sold 3,000 shares of Wabtec stock in a transaction on Tuesday, November 11th. The stock was 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 in the company, valued at $1,030,986.85. This represents a 37.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 25,436 shares of company stock valued at $5,145,024 over the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on WAB shares. Weiss Ratings restated a “buy (b)” rating on shares of Wabtec in a research report on Wednesday, October 8th. Wells Fargo & Company initiated coverage on Wabtec in a research note on Thursday, November 13th. They issued an “equal weight” rating and a $221.00 price target on the stock. Susquehanna increased their price target on Wabtec from $235.00 to $240.00 and gave the stock a “positive” rating in a report on Thursday, October 23rd. Citigroup raised their price objective on shares of Wabtec from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. Finally, Bank of America boosted their target price on shares of Wabtec from $228.00 to $233.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $226.78.

Wabtec Trading Down 0.0%

Shares of Wabtec stock opened at $200.22 on Tuesday. The stock has a market capitalization of $34.23 billion, a PE ratio of 29.10, a price-to-earnings-growth ratio of 1.55 and a beta of 1.09. Wabtec has a 52 week low of $151.81 and a 52 week high of $216.10. The stock has a 50 day moving average price of $198.51 and a two-hundred day moving average price of $199.61. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.75 and a current ratio of 1.42.

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 the consensus estimate of $2.28 by $0.04. Wabtec had a net margin of 10.94% and a return on equity of 13.84%. The business had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter last year, the firm posted $2.00 EPS. Wabtec’s revenue was up 8.4% compared to the same quarter last year. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. As a group, equities analysts anticipate that Wabtec will post 8.54 earnings per share for the current fiscal year.

Wabtec Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. 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.