2,586 Wabtec $WAB Shares Acquired by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. raised its holdings in Wabtec (NYSE:WAB) by 9.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 30,367 shares of the transportation company’s stock after acquiring an additional 2,586 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Wabtec were worth $8,844,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Wabtec during the 2nd quarter worth about $3,741,077,000. State Street Corp grew its holdings in shares of Wabtec by 2.1% in the 2nd quarter. State Street Corp now owns 7,905,748 shares of the transportation company’s stock valued at $2,131,390,000 after acquiring an additional 164,806 shares in the last quarter. Amundi grew its holdings in shares of Wabtec by 43.9% in the 2nd quarter. Amundi now owns 1,580,919 shares of the transportation company’s stock valued at $426,216,000 after acquiring an additional 482,323 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Wabtec by 2.4% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,424,945 shares of the transportation company’s stock valued at $384,165,000 after acquiring an additional 33,942 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Wabtec during the second quarter worth about $212,692,000. 91.69% of the stock is owned by institutional investors.

Insider Buying and Selling at Wabtec

In other news, EVP Gregory Sbrocco sold 952 shares of Wabtec stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $300.00, for a total transaction of $285,600.00. Following the completion of the transaction, the executive vice president directly owned 21,043 shares in the company, valued at approximately $6,312,900. The trade was a 4.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Fetsko sold 3,250 shares of Wabtec stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $293.22, for a total value of $952,965.00. Following the transaction, the insider owned 37,380 shares of the company’s stock, valued at $10,960,563.60. This represents a 8.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 5,289 shares of company stock worth $1,555,741 over the last 90 days. Company insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Citigroup reduced their price target on Wabtec from $338.00 to $334.00 and set a “buy” rating for the company in a research report on Thursday, October 22nd. Wall Street Zen lowered Wabtec from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Weiss Ratings upgraded Wabtec from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, October 26th. Wells Fargo & Company upped their price objective on Wabtec from $284.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 23rd. Finally, Rothschild & Co Redburn cut their price objective on Wabtec from $293.00 to $292.00 and set a “buy” rating for the company in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $320.18.

Wabtec Stock Performance

Shares of WAB opened at $278.25 on Friday. The company has a market cap of $46.69 billion, a PE ratio of 34.57, a price-to-earnings-growth ratio of 1.65 and a beta of 0.93. The firm has a 50-day moving average of $284.75 and a 200-day moving average of $268.86. Wabtec has a one year low of $194.93 and a one year high of $306.64. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.10 and a quick ratio of 0.56.

Wabtec (NYSE:WAB) last issued its earnings results on Wednesday, October 21st. The transportation company reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.73 by $0.10. Wabtec had a net margin of 11.20% and a return on equity of 15.72%. The business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.20 billion. During the same period last year, the business posted $2.32 EPS. Wabtec’s revenue was up 8.1% on a year-over-year basis. As a group, equities analysts forecast that Wabtec will post 10.97 earnings per share for the current year.

Wabtec Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 17th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, November 17th. Wabtec’s payout ratio is 15.40%.

Wabtec Company Profile

Westinghouse Air Brake Technologies Corporation, doing business as Wabtec (NYSE: WAB), is a global provider of equipment, systems, digital solutions and services for the freight and passenger rail industries. The company develops technologies intended to improve the safety, efficiency, reliability and sustainability of rail transportation.

Wabtec’s products and services include locomotives, locomotive components and modernization programs, braking systems, train control and signaling equipment, power and propulsion systems, and advanced digital solutions.