Insider Selling: Wabtec (NYSE:WAB) VP Sells $419,727.00 in Stock

Wabtec (NYSE:WAB) VP David Deninno sold 2,100 shares of the company’s stock in a transaction on Tuesday, October 28th. The shares were sold at an average price of $199.87, for a total transaction of $419,727.00. Following the completion of the sale, the vice president directly owned 60,450 shares in the company, valued at $12,082,141.50. This represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Wabtec Trading Up 0.8%

WAB opened at $204.82 on Friday. The stock has a market capitalization of $35.01 billion, a PE ratio of 29.77, a P/E/G ratio of 1.55 and a beta of 1.10. The firm’s fifty day moving average price is $194.97 and its 200 day moving average price is $197.11. 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 has a 12-month low of $151.81 and a 12-month high of $216.10.

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

Wabtec Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Wednesday, November 12th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.00 annualized dividend and a yield of 0.5%. Wabtec’s dividend payout ratio is currently 14.53%.

Analysts Set New Price Targets

WAB has been the topic of a number of research reports. Citigroup initiated coverage on shares of Wabtec in a report on Monday, September 22nd. They set a “buy” rating and a $225.00 target price on the stock. JPMorgan Chase & Co. increased their target price on shares of Wabtec from $200.00 to $215.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. Wall Street Zen cut shares of Wabtec from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Susquehanna increased their target price on shares of Wabtec from $235.00 to $240.00 and gave the stock a “positive” rating in a report on Thursday, October 23rd. Finally, Bank of America increased their target price on shares of Wabtec from $231.00 to $236.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Wabtec presently has an average rating of “Moderate Buy” and a consensus target price of $225.38.

Hedge Funds Weigh In On Wabtec

Several institutional investors have recently modified their holdings of WAB. Sumitomo Mitsui Trust Group Inc. grew its position in Wabtec by 8.7% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 439,144 shares of the transportation company’s stock valued at $91,935,000 after buying an additional 35,088 shares in the last quarter. Keeler Thomas Management LLC bought a new position in Wabtec in the 2nd quarter valued at about $1,421,000. Nordea Investment Management AB grew its position in Wabtec by 33.4% in the 2nd quarter. Nordea Investment Management AB now owns 1,592,529 shares of the transportation company’s stock valued at $333,062,000 after buying an additional 398,782 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in Wabtec by 6.1% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 48,066 shares of the transportation company’s stock valued at $9,996,000 after buying an additional 2,765 shares in the last quarter. Finally, Catalyst Capital Advisors LLC grew its position in Wabtec by 1,788.6% in the 2nd quarter. Catalyst Capital Advisors LLC now owns 9,953 shares of the transportation company’s stock valued at $2,084,000 after buying an additional 9,426 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.

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.