Wabtec $WAB Shares Bought by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lifted its position in shares of Wabtec (NYSE:WAB) by 11.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,400 shares of the transportation company’s stock after purchasing an additional 1,962 shares during the period. Oppenheimer & Co. Inc.’s holdings in Wabtec were worth $5,571,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Flagship Harbor Advisors LLC purchased a new stake in Wabtec in the third quarter valued at approximately $203,000. Apollon Wealth Management LLC boosted its holdings in shares of Wabtec by 16.9% in the third quarter. Apollon Wealth Management LLC now owns 3,815 shares of the transportation company’s stock valued at $1,096,000 after acquiring an additional 551 shares during the period. Signaturefd LLC boosted its holdings in shares of Wabtec by 6.7% in the third quarter. Signaturefd LLC now owns 2,641 shares of the transportation company’s stock valued at $758,000 after acquiring an additional 165 shares during the period. Citizens Financial Group Inc. RI grew its position in shares of Wabtec by 14.4% during the third quarter. Citizens Financial Group Inc. RI now owns 1,674 shares of the transportation company’s stock worth $481,000 after acquiring an additional 211 shares during the last quarter. Finally, Sowell Financial Services LLC purchased a new position in shares of Wabtec during the third quarter worth approximately $1,998,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

Insider Transactions at Wabtec

In related news, CEO Rafael Santana sold 1,087 shares of the stock in a transaction on Monday, October 5th. The stock was sold at an average price of $291.79, for a total transaction of $317,175.73. Following the completion of the sale, the chief executive officer directly owned 116,155 shares of the company’s stock, valued at $33,892,867.45. This trade represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Fetsko sold 3,250 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $293.22, for a total value of $952,965.00. Following the sale, the insider directly owned 37,380 shares of the company’s stock, valued at approximately $10,960,563.60. This represents a 8.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 6,452 shares of company stock worth $1,903,524 over the last 90 days. 0.57% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wall Street Zen cut shares of Wabtec from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. JPMorgan Chase & Co. increased their price target on shares of Wabtec from $315.00 to $320.00 and gave the stock a “neutral” rating in a research note on Monday, September 21st. KeyCorp increased their price target on shares of Wabtec from $308.00 to $340.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Stephens raised their price objective on shares of Wabtec from $330.00 to $340.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 21st. Finally, Citigroup dropped their price objective on shares of Wabtec from $338.00 to $334.00 and set a “buy” rating on the stock in a research note on Thursday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $320.18.

Wabtec Stock Up 1.2%

WAB opened at $282.22 on Thursday. The business has a 50 day moving average price of $285.98 and a two-hundred day moving average price of $267.09. The company has a quick ratio of 0.56, a current ratio of 1.10 and a debt-to-equity ratio of 0.41. The company has a market cap of $47.36 billion, a PE ratio of 35.06, a P/E/G ratio of 1.53 and a beta of 0.92. Wabtec has a 52 week low of $194.93 and a 52 week high of $306.64.

Wabtec (NYSE:WAB) last posted its quarterly earnings data on Wednesday, October 21st. The transportation company reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.73 by $0.10. Wabtec had a return on equity of 15.72% and a net margin of 11.20%. The company had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.20 billion. During the same period last year, the firm earned $2.32 EPS. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. As a group, research analysts anticipate that Wabtec will post 10.97 EPS for the current year.

Wabtec Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, November 17th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Tuesday, November 17th. Wabtec’s dividend payout ratio is 15.40%.

About Wabtec

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.