Louisiana State Employees Retirement System Has $1.88 Million Stock Holdings in Wabtec $WAB

Louisiana State Employees Retirement System trimmed its position in shares of Wabtec (NYSE:WAB) by 2.2% during the second quarter, HoldingsChannel.com reports. The firm owned 9,000 shares of the transportation company’s stock after selling 200 shares during the period. Louisiana State Employees Retirement System’s holdings in Wabtec were worth $1,884,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in WAB. Greenleaf Trust boosted its stake in shares of Wabtec by 2.8% during the first quarter. Greenleaf Trust now owns 3,437 shares of the transportation company’s stock valued at $623,000 after purchasing an additional 93 shares in the last quarter. New York State Common Retirement Fund boosted its stake in shares of Wabtec by 16.0% during the first quarter. New York State Common Retirement Fund now owns 142,163 shares of the transportation company’s stock valued at $25,781,000 after purchasing an additional 19,600 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Wabtec by 2,220.1% during the first quarter. Pacer Advisors Inc. now owns 738,038 shares of the transportation company’s stock valued at $133,843,000 after purchasing an additional 706,227 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its stake in shares of Wabtec by 30.5% during the first quarter. Harvest Fund Management Co. Ltd now owns 5,097 shares of the transportation company’s stock valued at $957,000 after purchasing an additional 1,190 shares in the last quarter. Finally, Raiffeisen Bank International AG boosted its stake in shares of Wabtec by 159.0% during the first quarter. Raiffeisen Bank International AG now owns 16,561 shares of the transportation company’s stock valued at $3,011,000 after purchasing an additional 10,168 shares in the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

Wabtec Stock Down 2.4%

Shares of NYSE WAB opened at $190.92 on Friday. Wabtec has a one year low of $151.81 and a one year high of $216.10. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.76 and a quick ratio of 1.05. The business’s fifty day moving average price is $192.98 and its 200-day moving average price is $194.42. The stock has a market capitalization of $32.64 billion, a PE ratio of 28.50, a P/E/G ratio of 1.48 and a beta of 1.10.

Wabtec (NYSE:WAB) last issued its quarterly earnings results on Thursday, July 24th. The transportation company reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $2.18 by $0.09. Wabtec had a return on equity of 13.65% and a net margin of 10.92%.The firm had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.76 billion. During the same quarter in the prior year, the firm earned $1.96 EPS. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. Wabtec has set its FY 2025 guidance at 8.550-9.150 EPS. On average, equities research analysts anticipate that Wabtec will post 8.54 EPS for the current year.

Wabtec Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Thursday, August 14th. Wabtec’s payout ratio is presently 14.93%.

Insider Activity

In related news, CEO Rafael Santana sold 1,798 shares of the business’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $189.63, for a total transaction of $340,954.74. Following the sale, the chief executive officer directly owned 134,931 shares in the company, valued at approximately $25,586,965.53. The trade was a 1.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 4,483 shares of company stock worth $853,558. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on WAB. Susquehanna raised their price objective on Wabtec from $210.00 to $235.00 and gave the stock a “positive” rating in a research report on Friday, July 25th. Citigroup assumed coverage on Wabtec in a report on Monday, September 22nd. They set a “buy” rating and a $225.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on Wabtec from $216.00 to $200.00 and set a “neutral” rating for the company in a report on Thursday, August 14th. Morgan Stanley lifted their target price on Wabtec from $220.00 to $226.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Finally, Bank of America lifted their target price on Wabtec from $231.00 to $236.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $222.88.

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.