Mitsubishi UFJ Trust & Banking Corp Purchases 4,221 Shares of Wabtec $WAB

Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Wabtec (NYSE:WAB) by 2.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 199,762 shares of the transportation company’s stock after acquiring an additional 4,221 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Wabtec were worth $40,046,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the stock. Norges Bank bought a new position in Wabtec in the second quarter valued at about $347,194,000. Qube Research & Technologies Ltd purchased a new stake in shares of Wabtec in the second quarter worth $121,612,000. Aviva PLC raised its holdings in Wabtec by 7,960.0% during the second quarter. Aviva PLC now owns 527,685 shares of the transportation company’s stock valued at $110,471,000 after acquiring an additional 521,138 shares during the period. Vanguard Group Inc. lifted its holdings in Wabtec by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 19,930,893 shares of the transportation company’s stock worth $4,172,532,000 after purchasing an additional 493,437 shares in the last quarter. Finally, Amundi boosted its position in shares of Wabtec by 36.8% during the second quarter. Amundi now owns 1,614,789 shares of the transportation company’s stock worth $345,371,000 after acquiring an additional 434,401 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

Wabtec Stock Down 1.6%

Shares of NYSE WAB opened at $230.04 on Monday. The company has a quick ratio of 0.75, a current ratio of 1.42 and a debt-to-equity ratio of 0.45. Wabtec has a 52-week low of $151.81 and a 52-week high of $236.00. The firm has a market cap of $39.33 billion, a price-to-earnings ratio of 33.44, a price-to-earnings-growth ratio of 1.57 and a beta of 1.00. The company’s 50-day simple moving average is $215.86 and its 200-day simple moving average is $203.86.

Insiders Place Their Bets

In related news, EVP Gregory Sbrocco sold 2,424 shares of Wabtec stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $203.77, for a total transaction of $493,938.48. Following the transaction, the executive vice president owned 15,405 shares in the company, valued at approximately $3,139,076.85. This trade represents a 13.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP David L. Deninno sold 5,000 shares of the business’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $214.62, for a total transaction of $1,073,100.00. Following the completion of the transaction, the vice president owned 50,450 shares in the company, valued at $10,827,579. The trade was a 9.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 30,963 shares of company stock worth $6,513,315. 1.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

WAB has been the topic of several recent research reports. Wells Fargo & Company upped their price objective on Wabtec from $221.00 to $224.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 17th. Weiss Ratings restated a “buy (b)” rating on shares of Wabtec in a report on Wednesday. Wolfe Research raised shares of Wabtec from a “peer perform” rating to an “outperform” rating and set a $245.00 target price on the stock in a research report on Thursday, January 8th. JPMorgan Chase & Co. lifted their price objective on Wabtec from $215.00 to $245.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Finally, Bank of America upped their target price on Wabtec from $228.00 to $233.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $237.00.

About Wabtec

Wabtec Corporation (Westinghouse Air Brake Technologies Corporation) is a global provider of equipment, systems and services for the rail industry. The company supplies products and solutions to freight railroads, transit agencies and other industrial operators, focusing on technologies that improve the performance, safety and efficiency of locomotives and rail networks. Wabtec’s business spans new equipment manufacturing, aftermarket parts and services, and digital and control systems for rail operations.

Product and service offerings include locomotive systems and components, braking and air systems, propulsion and traction equipment, signaling and control technologies, and a range of aftermarket services such as maintenance, remanufacturing, parts distribution and fleet modernization.