Wabtec $WAB Shares Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its holdings in Wabtec (NYSE:WAB) by 71.7% in the third quarter, Holdings Channel reports. The fund owned 49,433 shares of the transportation company’s stock after buying an additional 20,651 shares during the period. Teacher Retirement System of Texas’ holdings in Wabtec were worth $9,910,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of WAB. Norges Bank purchased a new stake in shares of Wabtec in the second quarter valued at approximately $347,194,000. Qube Research & Technologies Ltd purchased a new position in Wabtec during the second quarter worth approximately $121,612,000. Aviva PLC boosted its stake in 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 last quarter. Vanguard Group Inc. grew 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 valued at $4,172,532,000 after buying an additional 493,437 shares in the last quarter. Finally, Amundi grew its holdings in Wabtec by 36.8% in the 2nd quarter. Amundi now owns 1,614,789 shares of the transportation company’s stock valued at $345,371,000 after buying an additional 434,401 shares in the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Wabtec Trading Down 1.6%

WAB opened at $230.04 on Monday. Wabtec has a 52 week low of $151.81 and a 52 week high of $236.00. 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 business has a fifty day simple moving average of $215.86 and a 200-day simple moving average of $203.86. The firm has a market cap of $39.33 billion, a P/E ratio of 33.44, a P/E/G ratio of 1.57 and a beta of 1.00.

Insider Activity at Wabtec

In other Wabtec news, insider Pascal Schweitzer sold 3,000 shares of Wabtec stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $208.07, for a total value of $624,210.00. Following the completion of 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Gregory Sbrocco sold 2,424 shares of the business’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $203.77, for a total transaction of $493,938.48. Following the sale, the executive vice president owned 15,405 shares in the company, valued at $3,139,076.85. This trade represents a 13.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 30,963 shares of company stock worth $6,513,315 over the last ninety days. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Morgan Stanley upped their price objective on shares of Wabtec from $257.00 to $264.00 and gave the company an “overweight” rating in a report on Monday, January 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of Wabtec in a report on Wednesday. Wells Fargo & Company increased their price target on shares of Wabtec from $221.00 to $224.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 17th. Susquehanna raised their target price on Wabtec from $235.00 to $240.00 and gave the stock a “positive” rating in a research note on Thursday, October 23rd. Finally, Bank of America increased their price target on Wabtec from $228.00 to $233.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Wabtec presently has a consensus rating of “Moderate Buy” and an average target price of $237.00.

Wabtec Profile

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.