Mirabella Financial Services LLP Takes Position in Wabtec $WAB

Mirabella Financial Services LLP purchased a new position in Wabtec (NYSE:WAB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 28,477 shares of the transportation company’s stock, valued at approximately $5,962,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Guggenheim Capital LLC lifted its position in shares of Wabtec by 7.4% during the 2nd quarter. Guggenheim Capital LLC now owns 4,938 shares of the transportation company’s stock valued at $1,034,000 after buying an additional 342 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Wabtec by 60.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,423 shares of the transportation company’s stock valued at $298,000 after acquiring an additional 537 shares during the period. 1832 Asset Management L.P. lifted its position in shares of Wabtec by 28.0% during the second quarter. 1832 Asset Management L.P. now owns 15,118 shares of the transportation company’s stock worth $3,165,000 after acquiring an additional 3,307 shares in the last quarter. PharVision Advisers LLC bought a new position in shares of Wabtec in the second quarter worth $250,000. Finally, Groupe la Francaise boosted its holdings in shares of Wabtec by 19.8% in the second quarter. Groupe la Francaise now owns 43,796 shares of the transportation company’s stock worth $9,128,000 after acquiring an additional 7,249 shares during the period. Institutional investors own 91.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WAB. Weiss Ratings reissued a “buy (b)” rating on shares of Wabtec in a report on Wednesday, October 8th. JPMorgan Chase & Co. upped their price target on Wabtec from $200.00 to $215.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. Wells Fargo & Company initiated coverage on shares of Wabtec in a research report on Thursday, November 13th. They issued an “equal weight” rating and a $221.00 price objective for the company. Wall Street Zen lowered shares of Wabtec from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Bank of America raised their price target on shares of Wabtec from $228.00 to $233.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Wabtec currently has an average rating of “Moderate Buy” and an average target price of $226.78.

Insider Buying and Selling at Wabtec

In other Wabtec news, EVP Gregory Sbrocco sold 2,424 shares of the stock in a transaction on Friday, October 31st. The shares were sold at an average price of $203.77, for a total transaction of $493,938.48. Following the completion of the sale, the executive vice president owned 15,405 shares of the company’s stock, valued at $3,139,076.85. This represents a 13.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 sale, the insider directly owned 4,955 shares in the company, valued at $1,030,986.85. The trade was a 37.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 25,436 shares of company stock valued at $5,145,024. 1.10% of the stock is currently owned by insiders.

Wabtec Stock Performance

Shares of NYSE WAB opened at $213.92 on Friday. The stock’s 50-day moving average is $201.37 and its 200 day moving average is $200.05. The stock has a market cap of $36.57 billion, a price-to-earnings ratio of 31.09, a P/E/G ratio of 1.65 and a beta of 0.99. Wabtec has a 1-year low of $151.81 and a 1-year high of $216.10. The company has a current ratio of 1.42, a quick ratio of 0.75 and a debt-to-equity ratio of 0.45.

Wabtec (NYSE:WAB) last issued its quarterly earnings results on Wednesday, October 22nd. The transportation company reported $2.32 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 analysts’ expectations 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 business earned $2.00 earnings per share. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. On average, sell-side analysts anticipate that Wabtec will post 8.54 EPS for the current fiscal year.

Wabtec Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 0.5%. Wabtec’s payout ratio is currently 14.53%.

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.