Pinnbrook Capital Management LP Grows Holdings in Wabtec $WAB

Pinnbrook Capital Management LP boosted its position in Wabtec (NYSE:WAB) by 82.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 45,822 shares of the transportation company’s stock after purchasing an additional 20,759 shares during the period. Wabtec comprises 1.1% of Pinnbrook Capital Management LP’s investment portfolio, making the stock its 27th biggest position. Pinnbrook Capital Management LP’s holdings in Wabtec were worth $9,593,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of WAB. Pacer Advisors Inc. boosted 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 worth $133,843,000 after buying an additional 706,227 shares during the last quarter. Aviva PLC lifted its holdings in Wabtec by 7,960.0% during the second quarter. Aviva PLC now owns 527,685 shares of the transportation company’s stock worth $110,471,000 after acquiring an additional 521,138 shares during the period. Nordea Investment Management AB boosted its position in Wabtec by 33.4% in the second quarter. Nordea Investment Management AB now owns 1,592,529 shares of the transportation company’s stock worth $333,062,000 after purchasing an additional 398,782 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in Wabtec by 56.3% in the second quarter. Robeco Institutional Asset Management B.V. now owns 778,156 shares of the transportation company’s stock worth $162,907,000 after purchasing an additional 280,140 shares during the last quarter. Finally, Boston Partners grew its stake in Wabtec by 8.7% in the 2nd quarter. Boston Partners now owns 2,255,994 shares of the transportation company’s stock valued at $470,267,000 after purchasing an additional 180,786 shares during the period. Institutional investors own 91.69% of the company’s stock.

Wabtec Trading Down 0.3%

Shares of Wabtec stock opened at $203.60 on Friday. The stock has a market capitalization of $34.81 billion, a P/E ratio of 29.59, a P/E/G ratio of 1.55 and a beta of 1.09. 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 stock’s 50-day simple moving average is $197.45 and its 200 day simple moving average is $199.04.

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 company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.88 billion. Wabtec had a net margin of 10.94% and a return on equity of 13.84%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.00 earnings per share. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. As a group, research analysts anticipate that Wabtec will post 8.54 EPS for the current year.

Wabtec Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th will be issued 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 presently 14.53%.

Insider Buying and Selling

In other Wabtec news, insider Pascal Schweitzer sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $208.07, for a total value of $624,210.00. Following the completion of the transaction, the insider owned 4,955 shares in the company, valued at $1,030,986.85. This trade represents a 37.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David L. Deninno sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $209.94, for a total value of $1,049,700.00. Following the sale, the vice president owned 55,450 shares in the company, valued at approximately $11,641,173. This represents a 8.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 26,322 shares of company stock valued at $5,315,871 in the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

WAB has been the topic of a number of recent analyst reports. Bank of America lifted their target price on Wabtec from $228.00 to $233.00 and gave the stock a “buy” rating in a research note on Thursday. Citigroup raised their price objective on shares of Wabtec from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Friday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wabtec in a research report on Wednesday, October 8th. Wells Fargo & Company initiated coverage on shares of Wabtec in a research report on Thursday. They set an “equal weight” rating and a $221.00 target price for the company. Finally, JPMorgan Chase & Co. raised their price target 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. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $226.78.

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.