Forum Financial Management LP Lowers Stake in Wabtec $WAB

Forum Financial Management LP reduced its holdings in shares of Wabtec (NYSE:WAB) by 4.0% in the second quarter, HoldingsChannel reports. The fund owned 3,369 shares of the transportation company’s stock after selling 139 shares during the period. Forum Financial Management LP’s holdings in Wabtec were worth $706,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of WAB. ST Germain D J Co. Inc. raised its holdings in Wabtec by 30.2% in the second quarter. ST Germain D J Co. Inc. now owns 207 shares of the transportation company’s stock worth $43,000 after buying an additional 48 shares during the last quarter. PFS Partners LLC lifted its stake in shares of Wabtec by 70.4% in the second quarter. PFS Partners LLC now owns 121 shares of the transportation company’s stock worth $25,000 after buying an additional 50 shares in the last quarter. Trust Co. of Vermont lifted its stake in shares of Wabtec by 44.2% in the second quarter. Trust Co. of Vermont now owns 163 shares of the transportation company’s stock worth $34,000 after buying an additional 50 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of Wabtec by 22.2% in the second quarter. UMB Bank n.a. now owns 358 shares of the transportation company’s stock worth $75,000 after buying an additional 65 shares in the last quarter. Finally, Harbour Investments Inc. lifted its stake in shares of Wabtec by 30.9% in the second quarter. Harbour Investments Inc. now owns 309 shares of the transportation company’s stock worth $65,000 after buying an additional 73 shares in the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Wabtec news, CEO Rafael Santana sold 1,798 shares of the company’s stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $195.04, for a total transaction of $350,681.92. Following the completion of the sale, the chief executive officer directly owned 133,133 shares of the company’s stock, valued at approximately $25,966,260.32. This represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 6,281 shares of company stock worth $1,204,240 over the last three months. 1.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on WAB shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Wabtec in a research note on Wednesday, October 8th. JPMorgan Chase & Co. upped their target price on shares of Wabtec from $200.00 to $215.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. Susquehanna upped their target price on shares of Wabtec from $235.00 to $240.00 and gave the stock a “positive” rating in a research note on Thursday. Citigroup started coverage on shares of Wabtec in a research note on Monday, September 22nd. They issued a “buy” rating and a $225.00 target price on the stock. Finally, Morgan Stanley upped their target price on shares of Wabtec from $220.00 to $226.00 and gave the stock an “overweight” rating in a research note on Monday, July 28th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $225.38.

Wabtec Stock Up 1.9%

WAB opened at $197.19 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.42 and a debt-to-equity ratio of 0.45. The firm has a 50 day moving average price of $193.88 and a 200-day moving average price of $195.45. Wabtec has a twelve month low of $151.81 and a twelve month high of $216.10. The stock has a market capitalization of $33.71 billion, a price-to-earnings ratio of 28.66, a PEG ratio of 1.49 and a beta of 1.10.

Wabtec (NYSE:WAB) last released its quarterly earnings data on Wednesday, October 22nd. The transportation company reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.04. Wabtec had a net margin of 10.94% and a return on equity of 13.84%. The firm had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.88 billion. During the same period in the previous year, the company earned $2.00 earnings per share. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. Equities research analysts forecast that Wabtec will post 8.54 earnings per share for the current year.

Wabtec Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, November 12th. Wabtec’s dividend payout ratio is currently 14.93%.

About Wabtec

Westinghouse Air Brake Technologies Corporation, together with its subsidiaries, provides technology-based locomotives, equipment, systems, and services for the freight rail and passenger transit industries worldwide. It offers diesel-electric, battery, and liquid natural gas-powered locomotives; engines, electric motors, and propulsion systems; and marine and mining products.