Hartford Funds Management Co LLC Reduces Stock Position in Wabtec $WAB

Hartford Funds Management Co LLC decreased its position in shares of Wabtec (NYSE:WAB) by 91.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 464 shares of the transportation company’s stock after selling 5,243 shares during the quarter. Hartford Funds Management Co LLC’s holdings in Wabtec were worth $97,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. New York State Common Retirement Fund boosted its holdings 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 purchasing an additional 19,600 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Wabtec by 2,220.1% during 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 raised its position in shares of Wabtec by 30.5% during 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. Raiffeisen Bank International AG lifted its holdings in Wabtec by 159.0% in the first quarter. Raiffeisen Bank International AG now owns 16,561 shares of the transportation company’s stock valued at $3,011,000 after acquiring an additional 10,168 shares during the last quarter. Finally, iA Global Asset Management Inc. increased its stake in Wabtec by 4.7% during the first quarter. iA Global Asset Management Inc. now owns 17,907 shares of the transportation company’s stock worth $3,247,000 after acquiring an additional 812 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Wabtec

In other news, CEO Rafael Santana sold 1,799 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $189.97, for a total value of $341,756.03. Following the completion of the sale, the chief executive officer directly owned 136,729 shares of the company’s stock, valued at $25,974,408.13. This trade represents a 1.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David L. 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 value 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 trade represents a 3.36% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 15,556 shares of company stock valued at $3,061,101. 1.10% of the stock is owned by company insiders.

Wabtec Stock Up 1.2%

WAB opened at $206.13 on Monday. The business’s 50-day simple moving average is $196.02 and its 200-day simple moving average is $198.45. The stock has a market capitalization of $35.24 billion, a P/E ratio of 29.96, a price-to-earnings-growth ratio of 1.55 and a beta of 1.09. Wabtec has a one year low of $151.81 and a one year high of $216.10. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.75 and a current ratio of 1.42.

Wabtec (NYSE:WAB) last posted its quarterly earnings data on Wednesday, October 22nd. The transportation company reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $2.28 by $0.04. Wabtec had a net margin of 10.94% and a return on equity of 13.84%. The company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period in the previous year, the business posted $2.00 earnings per share. Wabtec’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. Analysts anticipate that Wabtec will post 8.54 EPS for the current year.

Wabtec Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors 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 yield of 0.5%. The ex-dividend date is Wednesday, November 12th. Wabtec’s dividend payout ratio (DPR) is 14.53%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on WAB. Morgan Stanley increased their price target on Wabtec from $220.00 to $226.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. Wall Street Zen cut shares of Wabtec from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. JPMorgan Chase & Co. lifted their price objective on shares of Wabtec from $200.00 to $215.00 and gave the company a “neutral” rating in a report on Tuesday, October 14th. Weiss Ratings reissued a “buy (b)” rating on shares of Wabtec in a research note on Wednesday, October 8th. Finally, Susquehanna lifted their price objective on Wabtec from $235.00 to $240.00 and gave the company a “positive” rating in a research note on Thursday, October 23rd. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Wabtec currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.38.

Wabtec Company Profile

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.