Pzena Investment Management LLC Buys 16,560 Shares of Wabtec $WAB

Pzena Investment Management LLC grew its stake in shares of Wabtec (NYSE:WAB) by 4.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 360,696 shares of the transportation company’s stock after purchasing an additional 16,560 shares during the period. Pzena Investment Management LLC owned approximately 0.21% of Wabtec worth $75,512,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of WAB. Greenleaf Trust boosted its stake in Wabtec by 2.8% during the first quarter. Greenleaf Trust now owns 3,437 shares of the transportation company’s stock worth $623,000 after acquiring an additional 93 shares in the last quarter. New York State Common Retirement Fund boosted its stake in Wabtec by 16.0% during the first quarter. New York State Common Retirement Fund now owns 142,163 shares of the transportation company’s stock worth $25,781,000 after acquiring an additional 19,600 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Wabtec by 2,220.1% during the first 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 in the last quarter. Harvest Fund Management Co. Ltd boosted its stake in Wabtec by 30.5% during the first quarter. Harvest Fund Management Co. Ltd now owns 5,097 shares of the transportation company’s stock worth $957,000 after acquiring an additional 1,190 shares in the last quarter. Finally, Raiffeisen Bank International AG boosted its stake in Wabtec by 159.0% during the first quarter. Raiffeisen Bank International AG now owns 16,561 shares of the transportation company’s stock worth $3,011,000 after acquiring an additional 10,168 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. 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 note on Monday, July 28th. JPMorgan Chase & Co. decreased their target price 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. Susquehanna lifted their target price on shares of Wabtec from $210.00 to $235.00 and gave the stock a “positive” rating in a report on Friday, July 25th. KeyCorp reaffirmed an “overweight” rating and issued a $240.00 target price (up from $220.00) on shares of Wabtec in a report on Tuesday, June 24th. Finally, Wall Street Zen cut shares of Wabtec from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $222.88.

Insider Buying and Selling at Wabtec

In other news, CEO Rafael Santana sold 1,799 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $189.97, for a total transaction of $341,756.03. Following the completion of the transaction, the chief executive officer directly owned 136,729 shares of the company’s stock, valued at $25,974,408.13. The trade was a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 4,483 shares of company stock worth $853,558 over the last three months. 1.10% of the stock is owned by insiders.

Wabtec Stock Down 2.4%

WAB opened at $190.92 on Monday. 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 50 day moving average price of $192.98 and a 200-day moving average price of $194.47. Wabtec has a twelve month low of $151.81 and a twelve month high of $216.10. The stock has a market capitalization of $32.64 billion, a price-to-earnings ratio of 28.50, a PEG ratio of 1.48 and a beta of 1.10.

Wabtec (NYSE:WAB) last released its quarterly earnings data 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 analysts’ expectations of $2.76 billion. During the same period in the previous year, the company earned $1.96 earnings per share. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. Wabtec has set its FY 2025 guidance at 8.550-9.150 EPS. Equities research analysts forecast that Wabtec will post 8.54 earnings per share for the current year.

Wabtec Dividend Announcement

The business also recently disclosed 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. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Thursday, August 14th. Wabtec’s payout ratio is presently 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.