Wabtec $WAB Shares Sold by Mountain Pacific Investment Advisers LLC

Mountain Pacific Investment Advisers LLC lowered its position in Wabtec (NYSE:WAB) by 4.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,060 shares of the transportation company’s stock after selling 399 shares during the quarter. Mountain Pacific Investment Advisers LLC’s holdings in Wabtec were worth $1,687,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Pacer Advisors Inc. boosted its position in Wabtec by 2,220.1% during the 1st quarter. Pacer Advisors Inc. now owns 738,038 shares of the transportation company’s stock worth $133,843,000 after acquiring an additional 706,227 shares during the period. Kingstone Capital Partners Texas LLC acquired a new stake in Wabtec in the second quarter worth about $32,547,000. BNP Paribas Financial Markets grew its position in Wabtec by 46.0% in the 1st quarter. BNP Paribas Financial Markets now owns 380,793 shares of the transportation company’s stock valued at $69,057,000 after buying an additional 120,057 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in Wabtec by 57.6% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 89,028 shares of the transportation company’s stock valued at $18,638,000 after buying an additional 32,550 shares in the last quarter. Finally, Forsta AP Fonden increased its stake in Wabtec by 40.4% during the 1st quarter. Forsta AP Fonden now owns 69,800 shares of the transportation company’s stock valued at $12,658,000 after buying an additional 20,100 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WAB has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Wabtec from $216.00 to $200.00 and set a “neutral” rating for the company in a report on Thursday, August 14th. Wall Street Zen lowered Wabtec from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Bank of America lifted their price target on Wabtec from $231.00 to $236.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Susquehanna upped their price objective on Wabtec from $210.00 to $235.00 and gave the company a “positive” rating in a report on Friday, July 25th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $240.00 target price (up previously from $220.00) on shares of Wabtec in a research note on Tuesday, June 24th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Wabtec has an average rating of “Moderate Buy” and a consensus target price of $222.88.

Wabtec Stock Performance

WAB opened at $198.65 on Thursday. The company has a quick ratio of 1.05, a current ratio of 1.76 and a debt-to-equity ratio of 0.44. The firm has a market cap of $33.96 billion, a PE ratio of 29.65, a P/E/G ratio of 1.55 and a beta of 1.10. The business has a fifty day simple moving average of $192.46 and a 200-day simple moving average of $193.79. Wabtec has a fifty-two week low of $151.81 and a fifty-two week high of $216.10.

Wabtec (NYSE:WAB) last announced its earnings results on Thursday, July 24th. The transportation company reported $2.27 EPS for the quarter, beating the consensus estimate of $2.18 by $0.09. The business had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.76 billion. Wabtec had a return on equity of 13.65% and a net margin of 10.92%.Wabtec’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.96 earnings per share. Wabtec has set its FY 2025 guidance at 8.550-9.150 EPS. As a group, equities analysts predict that Wabtec will post 8.54 EPS for the current fiscal year.

Wabtec Dividend Announcement

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

Insider Activity at Wabtec

In related news, CEO Rafael Santana sold 1,798 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $189.63, for a total value of $340,954.74. Following the completion of the transaction, the chief executive officer owned 134,931 shares of the company’s stock, valued at approximately $25,586,965.53. This trade represents a 1.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 5,369 shares of company stock valued at $1,042,586. 1.10% of the stock is currently owned by corporate insiders.

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.