Candriam S.C.A. Purchases 32,050 Shares of Wabtec $WAB

Candriam S.C.A. raised its holdings in shares of Wabtec (NYSE:WAB) by 7.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 465,026 shares of the transportation company’s stock after purchasing an additional 32,050 shares during the period. Candriam S.C.A. owned 0.27% of Wabtec worth $97,357,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Geode Capital Management LLC raised its stake in shares of Wabtec by 0.7% during the second quarter. Geode Capital Management LLC now owns 4,288,014 shares of the transportation company’s stock worth $893,830,000 after buying an additional 30,489 shares during the last quarter. Boston Partners grew its holdings in Wabtec by 8.7% during the 2nd quarter. Boston Partners now owns 2,255,994 shares of the transportation company’s stock worth $470,267,000 after acquiring an additional 180,786 shares during the period. Nordea Investment Management AB grew its holdings in Wabtec by 33.4% during the 2nd quarter. Nordea Investment Management AB now owns 1,592,529 shares of the transportation company’s stock worth $333,062,000 after acquiring an additional 398,782 shares during the period. AustralianSuper Pty Ltd raised its position in shares of Wabtec by 11.5% during the 2nd quarter. AustralianSuper Pty Ltd now owns 874,061 shares of the transportation company’s stock valued at $182,985,000 after acquiring an additional 90,392 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in shares of Wabtec by 56.3% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 778,156 shares of the transportation company’s stock valued at $162,907,000 after purchasing an additional 280,140 shares during the period. Institutional investors own 91.69% of the company’s stock.

Wabtec Price Performance

Shares of WAB opened at $209.73 on Thursday. The stock has a 50 day simple moving average of $197.04 and a 200 day simple moving average of $198.86. Wabtec has a 52-week low of $151.81 and a 52-week 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. The firm has a market capitalization of $35.85 billion, a PE ratio of 30.48, a P/E/G ratio of 1.55 and a beta of 1.09.

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

Wabtec Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on WAB shares. Morgan Stanley lifted their price objective on Wabtec from $220.00 to $226.00 and gave the stock an “overweight” rating in a research note on Monday, July 28th. Citigroup initiated coverage on Wabtec in a research report on Monday, September 22nd. They set a “buy” rating and a $225.00 target price for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Wabtec in a research report on Wednesday, October 8th. Susquehanna lifted their price objective 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. Finally, Wall Street Zen downgraded shares of Wabtec from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Seven investment 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 company currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.38.

Insider Transactions at Wabtec

In related news, EVP Gregory Sbrocco sold 2,953 shares of Wabtec 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 sale, the executive vice president owned 17,829 shares of the company’s stock, valued at approximately $3,484,321.47. This trade represents a 14.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP David L. Deninno sold 2,100 shares of the business’s stock in a transaction that occurred 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 owned 60,450 shares in the company, valued at $12,082,141.50. The trade was a 3.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 18,556 shares of company stock worth $3,685,311 in the last 90 days. Company insiders own 1.10% of the company’s stock.

Wabtec 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.