Kinsale Capital Group Inc. Acquires 3,200 Shares of Wabtec $WAB

Kinsale Capital Group Inc. raised its holdings in Wabtec (NYSE:WAB) by 7.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 49,173 shares of the transportation company’s stock after buying an additional 3,200 shares during the quarter. Wabtec accounts for 1.8% of Kinsale Capital Group Inc.’s investment portfolio, making the stock its 22nd largest holding. Kinsale Capital Group Inc.’s holdings in Wabtec were worth $9,858,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of WAB. Azzad Asset Management Inc. ADV grew its position in Wabtec by 17.4% in the 3rd quarter. Azzad Asset Management Inc. ADV now owns 5,899 shares of the transportation company’s stock valued at $1,183,000 after purchasing an additional 876 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of Wabtec by 14.8% in the third quarter. Smartleaf Asset Management LLC now owns 6,474 shares of the transportation company’s stock valued at $1,279,000 after buying an additional 837 shares in the last quarter. Prime Capital Investment Advisors LLC lifted its stake in shares of Wabtec by 1.9% in the third quarter. Prime Capital Investment Advisors LLC now owns 4,109 shares of the transportation company’s stock valued at $824,000 after buying an additional 78 shares in the last quarter. Gallacher Capital Management LLC acquired a new position in shares of Wabtec during the third quarter valued at about $304,000. Finally, Optimize Financial Inc increased its position in shares of Wabtec by 34.4% during the third quarter. Optimize Financial Inc now owns 1,632 shares of the transportation company’s stock worth $327,000 after acquiring an additional 418 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Insider Activity

In related news, insider Michael Fetsko sold 5,058 shares of the stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $215.72, for a total transaction of $1,091,111.76. Following the sale, the insider owned 36,882 shares of the company’s stock, valued at approximately $7,956,185.04. This represents a 12.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP David L. Deninno sold 5,000 shares of the stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $214.62, for a total transaction of $1,073,100.00. Following the completion of the sale, the vice president directly owned 50,450 shares in the company, valued at approximately $10,827,579. The trade was a 9.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 24,641 shares of company stock valued at $5,233,559. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

WAB has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their price target on Wabtec from $215.00 to $245.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Morgan Stanley lifted their target price on Wabtec from $257.00 to $264.00 and gave the company an “overweight” rating in a research report on Monday, January 12th. Susquehanna upped their price target on Wabtec from $240.00 to $280.00 and gave the stock a “positive” rating in a report on Monday, January 26th. Wolfe Research upgraded Wabtec from a “peer perform” rating to an “outperform” rating and set a $245.00 price objective on the stock in a research note on Thursday, January 8th. Finally, Citigroup lifted their price objective on shares of Wabtec from $245.00 to $258.00 and gave the stock a “buy” rating in a report on Friday, January 9th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $241.00.

Wabtec Stock Up 2.7%

Shares of NYSE:WAB opened at $246.56 on Friday. Wabtec has a 1 year low of $151.81 and a 1 year high of $246.68. The company has a market capitalization of $42.15 billion, a PE ratio of 35.84, a price-to-earnings-growth ratio of 1.68 and a beta of 1.01. The business has a fifty day moving average price of $222.44 and a two-hundred day moving average price of $205.53. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.75.

Wabtec Company 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.