Aviva PLC Has $110.47 Million Holdings in Wabtec $WAB

Aviva PLC lifted its holdings in shares of Wabtec (NYSE:WAB) by 7,960.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 527,685 shares of the transportation company’s stock after purchasing an additional 521,138 shares during the period. Aviva PLC’s holdings in Wabtec were worth $110,471,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WAB. Greenleaf Trust raised its position in Wabtec by 2.8% in the 1st quarter. Greenleaf Trust now owns 3,437 shares of the transportation company’s stock worth $623,000 after purchasing an additional 93 shares during the last quarter. New York State Common Retirement Fund boosted its position in Wabtec by 16.0% in the 1st quarter. New York State Common Retirement Fund now owns 142,163 shares of the transportation company’s stock valued at $25,781,000 after buying an additional 19,600 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Wabtec by 2,220.1% in the 1st quarter. Pacer Advisors Inc. now owns 738,038 shares of the transportation company’s stock valued at $133,843,000 after buying an additional 706,227 shares during the period. Harvest Fund Management Co. Ltd increased its stake in shares of Wabtec by 30.5% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 5,097 shares of the transportation company’s stock valued at $957,000 after buying an additional 1,190 shares during the period. Finally, Raiffeisen Bank International AG raised its position in shares of Wabtec by 159.0% during the first quarter. Raiffeisen Bank International AG now owns 16,561 shares of the transportation company’s stock worth $3,011,000 after acquiring an additional 10,168 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Wabtec Trading Up 1.2%

Shares of NYSE:WAB opened at $206.13 on Friday. The firm has a market cap of $35.24 billion, a price-to-earnings ratio of 29.96, a PEG ratio of 1.55 and a beta of 1.09. Wabtec has a 12 month low of $151.81 and a 12 month high of $216.10. The company’s fifty day simple moving average is $196.02 and its 200 day simple moving average is $198.15. The company has a quick ratio of 0.75, a current ratio of 1.42 and a debt-to-equity ratio of 0.45.

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

Wabtec Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, November 12th. Wabtec’s dividend payout ratio (DPR) is 14.53%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Morgan Stanley upped their target price on shares of Wabtec from $220.00 to $226.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Susquehanna boosted their price target on shares of Wabtec from $235.00 to $240.00 and gave the stock a “positive” rating in a research note on Thursday, October 23rd. JPMorgan Chase & Co. raised their price objective on shares of Wabtec from $200.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Wall Street Zen lowered shares of Wabtec from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Wabtec in a research report on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $225.38.

Insider Transactions at Wabtec

In related news, CEO Rafael Santana sold 1,799 shares of Wabtec stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $189.97, for a total transaction of $341,756.03. Following the completion of the transaction, the chief executive officer owned 136,729 shares in the company, valued at approximately $25,974,408.13. This trade represents a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Gregory Sbrocco sold 2,953 shares of the business’s stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $195.43, for a total value of $577,104.79. Following the transaction, the executive vice president directly owned 17,829 shares in the company, valued at $3,484,321.47. The trade was a 14.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 15,556 shares of company stock worth $3,061,101 in the last ninety days. Insiders own 1.10% 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.