Wabtec $WAB Shares Newly Purchased by Pensioenfonds Rail & OV

Pensioenfonds Rail & OV bought a new stake in Wabtec (NYSE:WAB) in the third quarter, HoldingsChannel.com reports. The fund bought 11,708 shares of the transportation company’s stock, valued at approximately $3,362,000.

Other institutional investors also recently made changes to their positions in the company. IFG Advisory LLC raised its position in shares of Wabtec by 117.2% during the 3rd quarter. IFG Advisory LLC now owns 404 shares of the transportation company’s stock worth $116,000 after purchasing an additional 218 shares during the period. Phoenix Financial Ltd. lifted its holdings in shares of Wabtec by 14.7% in the 3rd quarter. Phoenix Financial Ltd. now owns 2,113 shares of the transportation company’s stock worth $607,000 after purchasing an additional 270 shares during the last quarter. McKinney Capital Management LLC lifted its holdings in shares of Wabtec by 4.4% in the 3rd quarter. McKinney Capital Management LLC now owns 3,297 shares of the transportation company’s stock worth $947,000 after purchasing an additional 138 shares during the last quarter. Shah Wealth Advisors LLC bought a new stake in shares of Wabtec in the 3rd quarter worth approximately $245,000. Finally, Cornerstone Advisors LLC boosted its position in Wabtec by 28.8% during the 3rd quarter. Cornerstone Advisors LLC now owns 31,982 shares of the transportation company’s stock valued at $9,185,000 after purchasing an additional 7,149 shares during the period. 91.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Citigroup lowered their price objective on Wabtec from $338.00 to $334.00 and set a “buy” rating for the company in a research note on Thursday, October 22nd. Rothschild & Co Redburn dropped their target price on Wabtec from $293.00 to $292.00 and set a “buy” rating on the stock in a research report on Wednesday, July 29th. Wells Fargo & Company raised their target price on Wabtec from $284.00 to $315.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. Weiss Ratings downgraded shares of Wabtec from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday. Finally, Stephens boosted their price target on shares of Wabtec from $330.00 to $340.00 and gave the company an “overweight” rating in a report on Wednesday, October 21st. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Wabtec presently has a consensus rating of “Moderate Buy” and an average price target of $328.90.

Wabtec Stock Performance

Shares of NYSE WAB traded down $2.83 during midday trading on Friday, hitting $297.68. 809,997 shares of the company’s stock were exchanged, compared to its average volume of 1,098,791. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.10 and a quick ratio of 0.56. The stock’s 50 day moving average price is $286.21 and its 200-day moving average price is $270.87. The firm has a market cap of $49.95 billion, a P/E ratio of 36.98, a PEG ratio of 1.68 and a beta of 0.93. Wabtec has a twelve month low of $194.93 and a twelve month high of $307.96.

Wabtec (NYSE:WAB) last issued its quarterly earnings data on Wednesday, October 21st. The transportation company reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.73 by $0.10. Wabtec had a return on equity of 15.72% and a net margin of 11.20%. The business had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.20 billion. During the same period in the prior year, the company posted $2.32 EPS. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. Equities research analysts anticipate that Wabtec will post 10.97 EPS for the current year.

Wabtec Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 17th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Tuesday, November 17th. Wabtec’s payout ratio is 15.40%.

Insiders Place Their Bets

In other news, insider Michael Fetsko sold 3,250 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $293.22, for a total transaction of $952,965.00. Following the transaction, the insider directly owned 37,380 shares of the company’s stock, valued at approximately $10,960,563.60. This trade represents a 8.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Rafael Santana sold 1,087 shares of Wabtec stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $291.79, for a total transaction of $317,175.73. Following the sale, the chief executive officer owned 116,155 shares in the company, valued at approximately $33,892,867.45. This represents a 0.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 5,289 shares of company stock worth $1,555,741. 0.57% of the stock is owned by company insiders.

Wabtec Profile

Wabtec Corporation (NYSE: WAB), also known as Westinghouse Air Brake Technologies, supplies equipment, systems and services for the freight rail and passenger transit industries. Its products include locomotives, braking and train control systems, propulsion equipment, and components designed to support rail safety and performance. The company also provides aftermarket services, including maintenance, modernization, parts and digital solutions for rail operators. Its offerings serve freight railroads, transit agencies and other customers in the global rail industry.