6,161 Shares in Wabtec $WAB Purchased by Axecap Investments LLC

Axecap Investments LLC bought a new stake in Wabtec (NYSE:WAB) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 6,161 shares of the transportation company’s stock, valued at approximately $1,769,000.

Several other hedge funds have also recently added to or reduced their stakes in WAB. Whipplewood Advisors LLC acquired a new position in Wabtec during the 1st quarter worth $25,000. Meeder Asset Management Inc. bought a new position in shares of Wabtec in the second quarter worth $26,000. Bell Investment Advisors Inc bought a new position in shares of Wabtec in the second quarter worth $29,000. Fiduciary Financial Advisors acquired a new position in shares of Wabtec during the second quarter valued at $29,000. Finally, Eastern Bank increased its holdings in shares of Wabtec by 103.8% during the third quarter. Eastern Bank now owns 163 shares of the transportation company’s stock valued at $47,000 after purchasing an additional 83 shares during the period. Institutional investors own 91.69% of the company’s stock.

Wabtec Stock Down 1.1%

WAB opened at $283.61 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.59 and a current ratio of 1.12. The company has a market capitalization of $47.91 billion, a PE ratio of 38.12, a P/E/G ratio of 1.94 and a beta of 0.92. The stock’s fifty day moving average is $287.91 and its 200-day moving average is $275.80. Wabtec has a one year low of $186.06 and a one year high of $306.64.

Wabtec (NYSE:WAB) last announced its earnings results on Wednesday, July 22nd. The transportation company reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.60 by $0.16. Wabtec had a return on equity of 15.10% and a net margin of 10.59%. The business had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.07 billion. During the same quarter last year, the business posted $2.27 earnings per share. The company’s quarterly revenue was up 17.5% on a year-over-year basis. On average, equities analysts predict that Wabtec will post 10.89 EPS for the current fiscal year.

Wabtec Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 17th will be given a $0.31 dividend. The ex-dividend date is Tuesday, November 17th. This represents a $1.24 annualized dividend and a yield of 0.4%. Wabtec’s payout ratio is 16.67%.

Insider Transactions at Wabtec

In other news, insider Michael Fetsko sold 3,250 shares of the firm’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $293.22, for a total transaction of $952,965.00. Following the completion of the transaction, the insider owned 37,380 shares in the company, valued at approximately $10,960,563.60. This trade represents a 8.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Sameer Gaur sold 1,000 shares of Wabtec stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $300.64, for a total transaction of $300,640.00. Following the completion of the transaction, the insider directly owned 10,985 shares in the company, valued at $3,302,530.40. This represents a 8.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 17,552 shares of company stock valued at $5,232,911 in the last quarter. 0.57% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on WAB. Weiss Ratings upgraded shares of Wabtec from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Wells Fargo & Company increased their target price on shares of Wabtec from $284.00 to $315.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. Wall Street Zen cut shares of Wabtec from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Stephens raised their target price on shares of Wabtec from $320.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Finally, KeyCorp boosted their price target on shares of Wabtec from $308.00 to $340.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $313.55.

Wabtec Profile

Westinghouse Air Brake Technologies Corporation, doing business as Wabtec (NYSE: WAB), is a global provider of equipment, systems, digital solutions and services for the freight and passenger rail industries. The company develops technologies intended to improve the safety, efficiency, reliability and sustainability of rail transportation.

Wabtec’s products and services include locomotives, locomotive components and modernization programs, braking systems, train control and signaling equipment, power and propulsion systems, and advanced digital solutions.