Wabtec $WAB Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. raised its holdings in Wabtec (NYSE:WAB) by 6.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 191,721 shares of the transportation company’s stock after acquiring an additional 11,675 shares during the quarter. QRG Capital Management Inc. owned 0.11% of Wabtec worth $40,137,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Pacer Advisors Inc. increased its holdings in shares of Wabtec by 2,220.1% in the 1st quarter. Pacer Advisors Inc. now owns 738,038 shares of the transportation company’s stock valued at $133,843,000 after purchasing an additional 706,227 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in Wabtec by 56.3% during the second quarter. Robeco Institutional Asset Management B.V. now owns 778,156 shares of the transportation company’s stock worth $162,907,000 after buying an additional 280,140 shares during the period. Kingstone Capital Partners Texas LLC purchased a new position in Wabtec in the second quarter valued at about $32,547,000. BNP Paribas Financial Markets lifted its position in shares of Wabtec by 46.0% during the 1st quarter. BNP Paribas Financial Markets now owns 380,793 shares of the transportation company’s stock valued at $69,057,000 after acquiring an additional 120,057 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its position in shares of Wabtec by 70.0% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 221,911 shares of the transportation company’s stock valued at $46,457,000 after acquiring an additional 91,381 shares during the period. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on WAB shares. Weiss Ratings restated a “buy (b)” rating on shares of Wabtec in a report on Saturday, September 27th. Wall Street Zen lowered Wabtec from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. KeyCorp reaffirmed an “overweight” rating and set a $240.00 price target (up previously from $220.00) on shares of Wabtec in a research note on Tuesday, June 24th. Morgan Stanley boosted their price objective on shares of Wabtec from $220.00 to $226.00 and gave the stock an “overweight” rating in a research report on Monday, July 28th. Finally, Bank of America raised their target price on shares of Wabtec from $231.00 to $236.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $222.88.

Insider Buying and Selling

In other Wabtec news, CEO Rafael Santana sold 1,798 shares of the business’s stock in a transaction on Monday, September 15th. The stock was 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 directly owned 134,931 shares in the company, valued at approximately $25,586,965.53. The trade was a 1.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over 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 insiders.

Wabtec Stock Up 1.2%

Shares of NYSE:WAB opened at $200.33 on Friday. 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 company has a market capitalization of $34.25 billion, a P/E ratio of 29.90, a P/E/G ratio of 1.53 and a beta of 1.10. Wabtec has a 52-week low of $151.81 and a 52-week high of $216.10. The stock’s fifty day simple moving average is $192.46 and its 200-day simple moving average is $194.03.

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

Wabtec Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were given 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 yield of 0.5%. Wabtec’s dividend payout ratio (DPR) is 14.93%.

About Wabtec

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.