Resona Asset Management Co. Ltd. Has $10.68 Million Stock Holdings in Wabtec $WAB

Resona Asset Management Co. Ltd. lowered its holdings in shares of Wabtec (NYSE:WAB) by 4.0% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 53,383 shares of the transportation company’s stock after selling 2,201 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Wabtec were worth $10,677,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of WAB. ST Germain D J Co. Inc. raised its stake in Wabtec by 30.2% during the second quarter. ST Germain D J Co. Inc. now owns 207 shares of the transportation company’s stock worth $43,000 after acquiring an additional 48 shares in the last quarter. Trust Co. of Vermont grew its holdings in shares of Wabtec by 44.2% during the 2nd quarter. Trust Co. of Vermont now owns 163 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 50 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Wabtec by 7.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 797 shares of the transportation company’s stock valued at $167,000 after purchasing an additional 54 shares during the last quarter. CVA Family Office LLC increased its position in Wabtec by 7.9% during the 2nd quarter. CVA Family Office LLC now owns 748 shares of the transportation company’s stock worth $157,000 after purchasing an additional 55 shares in the last quarter. Finally, Premier Path Wealth Partners LLC lifted its stake in Wabtec by 3.5% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 1,623 shares of the transportation company’s stock valued at $340,000 after purchasing an additional 55 shares during the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Wabtec

In other Wabtec news, VP David L. Deninno sold 5,000 shares of the firm’s stock in a transaction that occurred on 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 approximately $10,827,579. This trade represents a 9.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Rogerio Mendonca sold 2,019 shares of the company’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $214.51, for a total transaction of $433,095.69. Following the completion of the sale, the insider directly owned 9,516 shares in the company, valued at approximately $2,041,277.16. This represents a 17.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 28,863 shares of company stock worth $6,093,588. Company insiders own 1.10% of the company’s stock.

Wabtec Trading Up 0.6%

Shares of WAB stock opened at $231.46 on Tuesday. The stock has a market cap of $39.57 billion, a price-to-earnings ratio of 33.64, a PEG ratio of 1.57 and a beta of 1.00. The stock has a 50-day moving average of $216.50 and a 200-day moving average of $203.98. The company has a current ratio of 1.42, a quick ratio of 0.75 and a debt-to-equity ratio of 0.45. Wabtec has a 1-year low of $151.81 and a 1-year high of $236.00.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on WAB. Morgan Stanley boosted their target price on shares of Wabtec from $257.00 to $264.00 and gave the stock an “overweight” rating in a research note on Monday, January 12th. Bank of America boosted their price objective on Wabtec from $228.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Wolfe Research upgraded Wabtec from a “peer perform” rating to an “outperform” rating and set a $245.00 target price for the company in a research report on Thursday, January 8th. Susquehanna lifted their price target on Wabtec from $240.00 to $280.00 and gave the company a “positive” rating in a research note on Monday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wabtec in a research note on Wednesday, January 21st. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $241.00.

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.