Korea Investment CORP Lowers Holdings in Wabtec $WAB

Korea Investment CORP decreased its position in Wabtec (NYSE:WAB) by 16.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,680 shares of the transportation company’s stock after selling 25,773 shares during the period. Korea Investment CORP owned approximately 0.08% of Wabtec worth $28,405,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. PFS Partners LLC lifted its stake in shares of Wabtec by 70.4% in the second quarter. PFS Partners LLC now owns 121 shares of the transportation company’s stock worth $25,000 after buying an additional 50 shares in the last quarter. Trust Co. of Vermont raised its holdings in Wabtec by 44.2% in the 2nd quarter. Trust Co. of Vermont now owns 163 shares of the transportation company’s stock worth $34,000 after acquiring an additional 50 shares during the last quarter. ST Germain D J Co. Inc. raised its holdings in Wabtec by 30.2% in the 2nd quarter. ST Germain D J Co. Inc. now owns 207 shares of the transportation company’s stock worth $43,000 after acquiring an additional 48 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in Wabtec in the 2nd quarter valued at approximately $44,000. Finally, NewSquare Capital LLC boosted its stake in Wabtec by 125.3% during the 2nd quarter. NewSquare Capital LLC now owns 223 shares of the transportation company’s stock valued at $47,000 after purchasing an additional 124 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on WAB. Wells Fargo & Company assumed coverage on Wabtec in a research note on Thursday, November 13th. They issued an “equal weight” rating and a $221.00 price target for the company. Susquehanna boosted their target price on Wabtec from $235.00 to $240.00 and gave the stock a “positive” rating in a research report on Thursday, October 23rd. JPMorgan Chase & Co. upped their target price on shares of Wabtec from $200.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of Wabtec in a research note on Wednesday, October 8th. Finally, Bank of America increased their price objective on shares of Wabtec from $228.00 to $233.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Wabtec has a consensus rating of “Moderate Buy” and a consensus target price of $226.78.

Insider Transactions at Wabtec

In other Wabtec news, CAO John A. Mastalerz, Jr. sold 2,766 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $210.00, for a total transaction of $580,860.00. Following the completion of the sale, the chief accounting officer owned 5,286 shares of the company’s stock, valued at approximately $1,110,060. The trade was a 34.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP David L. Deninno sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $209.94, for a total value of $1,049,700.00. Following the completion of the transaction, the vice president directly owned 55,450 shares in the company, valued at $11,641,173. This trade represents a 8.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 25,436 shares of company stock worth $5,145,024 over the last three months. 1.10% of the stock is currently owned by insiders.

Wabtec Trading Up 0.3%

Wabtec stock opened at $208.44 on Friday. Wabtec has a 52-week low of $151.81 and a 52-week high of $216.10. The company has a market cap of $35.63 billion, a P/E ratio of 30.30, a P/E/G ratio of 1.55 and a beta of 1.09. The company has a quick ratio of 0.75, a current ratio of 1.42 and a debt-to-equity ratio of 0.45. The business has a 50-day simple moving average of $200.07 and a two-hundred day simple moving average of $199.87.

Wabtec (NYSE:WAB) last posted its quarterly earnings data on Wednesday, October 22nd. The transportation company reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $0.04. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.88 billion. Wabtec had a net margin of 10.94% and a return on equity of 13.84%. The firm’s revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.00 earnings per share. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. Analysts predict that Wabtec will post 8.54 EPS for the current year.

Wabtec Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. Wabtec’s payout ratio is presently 14.53%.

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.