ProShare Advisors LLC Has $6.16 Million Holdings in Wabtec $WAB

ProShare Advisors LLC cut its holdings in shares of Wabtec (NYSE:WAB) by 7.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,421 shares of the transportation company’s stock after selling 2,492 shares during the quarter. ProShare Advisors LLC’s holdings in Wabtec were worth $6,159,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Pacer Advisors Inc. grew its position 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 buying an additional 706,227 shares in the last quarter. Harvest Fund Management Co. Ltd grew its holdings in shares of Wabtec by 30.5% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 5,097 shares of the transportation company’s stock worth $957,000 after purchasing an additional 1,190 shares in the last quarter. Raiffeisen Bank International AG increased its position in shares of Wabtec by 159.0% in the first quarter. Raiffeisen Bank International AG now owns 16,561 shares of the transportation company’s stock worth $3,011,000 after purchasing an additional 10,168 shares during the period. iA Global Asset Management Inc. raised its stake in Wabtec by 4.7% in the first quarter. iA Global Asset Management Inc. now owns 17,907 shares of the transportation company’s stock valued at $3,247,000 after purchasing an additional 812 shares in the last quarter. Finally, Forsta AP Fonden lifted its position in Wabtec by 40.4% during the first quarter. Forsta AP Fonden now owns 69,800 shares of the transportation company’s stock worth $12,658,000 after purchasing an additional 20,100 shares during the period. 91.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WAB has been the topic of several recent analyst reports. Susquehanna raised their target price on shares of Wabtec from $235.00 to $240.00 and gave the company a “positive” rating in a report on Thursday, October 23rd. JPMorgan Chase & Co. increased their price target on shares of Wabtec from $200.00 to $215.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Weiss Ratings restated a “buy (b)” rating on shares of Wabtec in a research report on Wednesday, October 8th. Citigroup initiated coverage on Wabtec in a research note on Monday, September 22nd. They set a “buy” rating and a $225.00 target price for the company. Finally, Morgan Stanley lifted their price target on Wabtec from $220.00 to $226.00 and gave the company an “overweight” rating in a research note on Monday, July 28th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Wabtec currently has an average rating of “Moderate Buy” and a consensus target price of $224.56.

Insider Transactions at Wabtec

In other news, EVP Gregory Sbrocco sold 2,953 shares of Wabtec stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of $195.43, for a total transaction of $577,104.79. Following the sale, the executive vice president directly owned 17,829 shares of the company’s stock, valued at approximately $3,484,321.47. This trade represents a 14.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Pascal Schweitzer sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $208.07, for a total value of $624,210.00. Following the completion of the transaction, the insider directly owned 4,955 shares of the company’s stock, valued at $1,030,986.85. This represents a 37.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 18,556 shares of company stock valued at $3,685,311 over the last three months. Company insiders own 1.10% of the company’s stock.

Wabtec Price Performance

Shares of NYSE:WAB opened at $204.01 on Friday. Wabtec has a one year low of $151.81 and a one year high of $216.10. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.75. The company has a market cap of $34.88 billion, a price-to-earnings ratio of 29.65, a PEG ratio of 1.55 and a beta of 1.09. The firm has a 50 day simple moving average of $197.24 and a 200 day simple moving average of $198.90.

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

Wabtec Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, November 12th. Wabtec’s dividend payout ratio is presently 14.53%.

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.