Mitsubishi UFJ Asset Management Co. Ltd. Has $69.31 Million Position in Wabtec $WAB

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Wabtec (NYSE:WAB) by 8.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 331,084 shares of the transportation company’s stock after purchasing an additional 24,857 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.19% of Wabtec worth $69,312,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. PFS Partners LLC boosted its position in Wabtec by 70.4% during the 2nd quarter. PFS Partners LLC now owns 121 shares of the transportation company’s stock worth $25,000 after buying an additional 50 shares during the period. Trust Co. of Vermont increased its position in Wabtec by 44.2% in the 2nd quarter. Trust Co. of Vermont now owns 163 shares of the transportation company’s stock valued at $34,000 after acquiring an additional 50 shares during the period. ST Germain D J Co. Inc. raised its stake in shares of Wabtec by 30.2% during the second quarter. ST Germain D J Co. Inc. now owns 207 shares of the transportation company’s stock valued at $43,000 after acquiring an additional 48 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Wabtec during the second quarter worth $44,000. Finally, NewSquare Capital LLC lifted its holdings in shares of Wabtec by 125.3% during the second quarter. NewSquare Capital LLC now owns 223 shares of the transportation company’s stock worth $47,000 after purchasing an additional 124 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on WAB shares. Morgan Stanley raised their target price on Wabtec from $220.00 to $226.00 and gave the stock an “overweight” rating in a research report on Monday, July 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of Wabtec in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Wabtec from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Citigroup initiated coverage on shares of Wabtec in a research note on Monday, September 22nd. They issued a “buy” rating and a $225.00 price objective on the stock. Finally, JPMorgan Chase & Co. boosted their target price on shares of Wabtec from $200.00 to $215.00 and gave the company a “neutral” rating in a report on Tuesday, October 14th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.38.

Wabtec Stock Performance

Shares of WAB stock opened at $206.13 on Monday. 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 fifty day simple moving average of $196.02 and a two-hundred day simple moving average of $198.45. Wabtec has a 12 month low of $151.81 and a 12 month high of $216.10. The firm has a market capitalization of $35.24 billion, a PE ratio of 29.96, a price-to-earnings-growth ratio of 1.55 and a beta of 1.09.

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

Wabtec Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Wabtec’s dividend payout ratio 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 that occurred on Friday, September 12th. The stock was sold at an average price of $189.97, for a total value of $341,756.03. Following the transaction, the chief executive officer owned 136,729 shares in the company, valued at $25,974,408.13. The trade was a 1.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP David L. Deninno sold 2,100 shares of the company’s stock in a transaction on Tuesday, October 28th. The shares were sold at an average price of $199.87, for a total value of $419,727.00. Following the completion of the transaction, the vice president owned 60,450 shares of the company’s stock, valued at $12,082,141.50. This trade represents a 3.36% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 15,556 shares of company stock worth $3,061,101. Corporate insiders own 1.10% of the company’s stock.

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.