Wabtec $WAB Stock Purchased by Kinsale Capital Group Inc.

Kinsale Capital Group Inc. boosted its stake in shares of Wabtec (NYSE:WAB) by 15.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,283 shares of the transportation company’s stock after purchasing an additional 9,005 shares during the quarter. Wabtec makes up 2.6% of Kinsale Capital Group Inc.’s investment portfolio, making the stock its 8th biggest holding. Kinsale Capital Group Inc.’s holdings in Wabtec were worth $19,035,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of WAB. BlackRock Inc. acquired a new stake in Wabtec in the 2nd quarter valued at about $3,741,077,000. Bank of New York Mellon Corp acquired a new position in shares of Wabtec during the second quarter worth about $212,692,000. Deutsche Bank AG acquired a new position in shares of Wabtec during the second quarter worth about $207,228,000. Junto Capital Management LP purchased a new stake in shares of Wabtec during the second quarter worth approximately $142,007,000. Finally, Amundi increased its stake in shares of Wabtec by 43.9% during the second quarter. Amundi now owns 1,580,919 shares of the transportation company’s stock worth $426,216,000 after buying an additional 482,323 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Insider Buying and Selling

In related news, CEO Rafael Santana sold 1,087 shares of the company’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $291.79, for a total value of $317,175.73. Following the completion of the transaction, the chief executive officer directly owned 116,155 shares of the company’s stock, valued at $33,892,867.45. This represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gregory Sbrocco sold 952 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $300.00, for a total transaction of $285,600.00. Following the completion of the transaction, the executive vice president owned 21,043 shares in the company, valued at $6,312,900. This represents a 4.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 5,289 shares of company stock worth $1,555,741 over the last 90 days. 0.57% of the stock is owned by insiders.

Wabtec Stock Up 5.2%

Wabtec stock opened at $298.38 on Tuesday. The stock has a market cap of $50.07 billion, a PE ratio of 37.07, a P/E/G ratio of 1.65 and a beta of 0.93. 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 fifty day moving average is $284.61 and its two-hundred day moving average is $269.47. Wabtec has a 1-year low of $194.93 and a 1-year high of $306.64.

Wabtec (NYSE:WAB) last released its quarterly earnings data on Wednesday, October 21st. The transportation company reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $3.20 billion. During the same period in the prior year, the firm posted $2.32 EPS. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, sell-side analysts expect that Wabtec will post 10.97 EPS for the current fiscal year.

Wabtec Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Citigroup reduced their target price on shares of Wabtec from $338.00 to $334.00 and set a “buy” rating on the stock in a report on Thursday, October 22nd. JPMorgan Chase & Co. lifted their price target on shares of Wabtec from $315.00 to $320.00 and gave the stock a “neutral” rating in a research note on Monday, September 21st. Stephens boosted their price target on shares of Wabtec from $330.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, October 21st. Weiss Ratings raised shares of Wabtec from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, October 26th. Finally, Susquehanna increased their price objective on shares of Wabtec from $305.00 to $340.00 and gave the company a “positive” rating in a research report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $320.18.

Wabtec Company 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.

Wabtec was formed in 1999 through the merger of Westinghouse Air Brake Company and MotivePower Industries, bringing together businesses with roots in rail equipment dating to the 19th century.