Elevation Point Wealth Partners LLC Grows Position in Wabtec $WAB

Elevation Point Wealth Partners LLC lifted its position in shares of Wabtec (NYSE:WAB) by 30.4% during the second quarter, Holdings Channel.com reports. The firm owned 2,689 shares of the transportation company’s stock after acquiring an additional 627 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Wabtec were worth $563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in WAB. Vanguard Group Inc. grew its position in shares of Wabtec by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 19,930,893 shares of the transportation company’s stock valued at $4,172,532,000 after acquiring an additional 493,437 shares during the period. Geode Capital Management LLC grew its holdings in Wabtec by 0.7% in the second quarter. Geode Capital Management LLC now owns 4,288,014 shares of the transportation company’s stock valued at $893,830,000 after purchasing an additional 30,489 shares during the period. Boston Partners raised its stake in shares of Wabtec by 9.0% during the 2nd quarter. Boston Partners now owns 2,261,456 shares of the transportation company’s stock worth $471,410,000 after buying an additional 186,248 shares during the period. Nordea Investment Management AB lifted its position in shares of Wabtec by 33.4% during 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. Finally, American Century Companies Inc. grew its stake in Wabtec by 1.1% in the 2nd quarter. American Century Companies Inc. now owns 1,150,050 shares of the transportation company’s stock valued at $240,764,000 after acquiring an additional 12,715 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on WAB. Susquehanna upped their price objective on shares of Wabtec from $235.00 to $240.00 and gave the stock a “positive” rating in a research report on Thursday, October 23rd. Wells Fargo & Company assumed coverage on shares of Wabtec in a research report on Thursday, November 13th. They set an “equal weight” rating and a $221.00 price target for the company. Citigroup lifted their price objective on Wabtec from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Bank of America boosted their price objective on Wabtec from $228.00 to $233.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Wabtec in a research report on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $226.78.

Wabtec Stock Up 0.3%

WAB stock opened at $208.44 on Friday. The company has a current ratio of 1.42, a quick ratio of 0.75 and a debt-to-equity ratio of 0.45. The firm has a 50-day moving average of $200.07 and a two-hundred day moving average of $199.87. Wabtec has a 12 month low of $151.81 and a 12 month high of $216.10. The company has a market cap of $35.63 billion, a price-to-earnings ratio of 30.30, a PEG ratio of 1.55 and a beta of 1.09.

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

Wabtec Dividend Announcement

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

Insider Buying and Selling at Wabtec

In other news, CEO Rafael Santana sold 1,799 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $189.97, for a total transaction of $341,756.03. Following the transaction, the chief executive officer owned 136,729 shares of the company’s stock, valued at approximately $25,974,408.13. The trade was a 1.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO John A. Mastalerz, Jr. sold 2,766 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $210.00, for a total transaction of $580,860.00. Following the completion of the sale, the chief accounting officer directly owned 5,286 shares of the company’s stock, valued at $1,110,060. This represents a 34.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 25,436 shares of company stock worth $5,145,024. Corporate 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.