Wabtec $WAB Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its stake in shares of Wabtec (NYSE:WAB) by 4.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,497,166 shares of the transportation company’s stock after selling 222,371 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Wabtec were worth $941,482,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. PFS Partners LLC raised its holdings 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 raised its holdings in shares of Wabtec by 44.2% during the second 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 holdings 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 period. Ameritas Advisory Services LLC acquired a new position in Wabtec in the 2nd quarter worth approximately $44,000. Finally, NewSquare Capital LLC grew 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 valued at $47,000 after buying an additional 124 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Wabtec Stock Down 0.3%

Shares of WAB stock opened at $203.60 on Friday. The company has a market capitalization of $34.81 billion, a price-to-earnings ratio of 29.59, a PEG ratio of 1.55 and a beta of 1.09. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.75 and a current ratio of 1.42. Wabtec has a twelve month low of $151.81 and a twelve month high of $216.10. The stock’s 50 day simple moving average is $197.45 and its 200 day simple moving average is $199.04.

Wabtec (NYSE:WAB) last posted its quarterly earnings data on Wednesday, October 22nd. The transportation company reported $2.32 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $2.88 billion. During the same period in the previous year, the company posted $2.00 earnings per share. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. As a group, research analysts predict that Wabtec will post 8.54 EPS for the current year.

Wabtec Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, November 12th. Wabtec’s payout ratio is 14.53%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Weiss Ratings restated a “buy (b)” rating on shares of Wabtec in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of Wabtec from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Susquehanna lifted their target price on shares of Wabtec from $235.00 to $240.00 and gave the company a “positive” rating in a research note on Thursday, October 23rd. Wells Fargo & Company began coverage on shares of Wabtec in a report on Thursday. They set an “equal weight” rating and a $221.00 price target on the stock. Finally, Bank of America increased their price objective on Wabtec from $228.00 to $233.00 and gave the stock a “buy” rating in a report on Thursday. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Wabtec has an average rating of “Moderate Buy” and a consensus price target of $226.78.

Insider Buying and Selling

In related news, 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 value of $580,860.00. Following the sale, the chief accounting officer owned 5,286 shares of the company’s stock, valued at $1,110,060. The trade was a 34.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP David L. Deninno sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $209.94, for a total value of $1,049,700.00. Following the transaction, the vice president owned 55,450 shares of the company’s stock, valued at $11,641,173. This trade represents a 8.27% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 26,322 shares of company stock worth $5,315,871. Insiders own 1.10% of the company’s stock.

Wabtec Company 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.