TD Waterhouse Canada Inc. Acquires 5,113 Shares of Wabtec $WAB

TD Waterhouse Canada Inc. lifted its holdings in shares of Wabtec (NYSE:WAB) by 9.2% during the second quarter, HoldingsChannel reports. The firm owned 60,460 shares of the transportation company’s stock after purchasing an additional 5,113 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Wabtec were worth $12,646,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in WAB. Sumitomo Mitsui Trust Group Inc. boosted its stake in Wabtec by 8.7% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 439,144 shares of the transportation company’s stock valued at $91,935,000 after acquiring an additional 35,088 shares during the last quarter. Keeler Thomas Management LLC purchased a new stake in shares of Wabtec during the 2nd quarter worth approximately $1,421,000. Nordea Investment Management AB raised its holdings in shares of Wabtec by 33.4% in the 2nd quarter. Nordea Investment Management AB now owns 1,592,529 shares of the transportation company’s stock worth $333,062,000 after purchasing an additional 398,782 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in shares of Wabtec by 6.1% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 48,066 shares of the transportation company’s stock worth $9,996,000 after purchasing an additional 2,765 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new position in Wabtec in the second quarter valued at approximately $334,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO John A. Mastalerz, Jr. sold 2,766 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $210.00, for a total transaction of $580,860.00. Following the completion of the transaction, the chief accounting officer directly owned 5,286 shares in the company, valued at $1,110,060. The trade was a 34.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Rafael Santana sold 1,799 shares of the company’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $189.97, for a total value of $341,756.03. Following the completion of the transaction, the chief executive officer owned 136,729 shares in the company, valued at $25,974,408.13. This represents a 1.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 25,436 shares of company stock worth $5,145,024. Company insiders own 1.10% of the company’s stock.

Wabtec Stock Up 0.2%

Shares of NYSE WAB opened at $197.97 on Thursday. The company has a quick ratio of 0.75, a current ratio of 1.42 and a debt-to-equity ratio of 0.45. The company has a market cap of $33.84 billion, a P/E ratio of 28.78, a P/E/G ratio of 1.55 and a beta of 1.09. Wabtec has a 52 week low of $151.81 and a 52 week high of $216.10. The business has a 50-day simple moving average of $197.96 and a two-hundred day simple moving average of $199.37.

Wabtec (NYSE:WAB) last announced its quarterly earnings results on Wednesday, October 22nd. The transportation company reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.04. Wabtec had a return on equity of 13.84% and a net margin of 10.94%.The firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.88 billion. During the same period in the prior year, the business posted $2.00 earnings per share. The company’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. Research analysts anticipate that Wabtec will post 8.54 earnings per share for the current fiscal year.

Wabtec Announces Dividend

The company 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 dividend payout ratio (DPR) is presently 14.53%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on WAB. Citigroup raised their target price on Wabtec from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. Wall Street Zen lowered Wabtec from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Bank of America boosted their price objective on Wabtec from $228.00 to $233.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Susquehanna increased their target price on shares of Wabtec from $235.00 to $240.00 and gave the stock a “positive” rating in a research report on Thursday, October 23rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Wabtec from $200.00 to $215.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $226.78.

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.