27,157 Wabtec $WAB Shares Sold by Candriam S.C.A.

Candriam S.C.A. decreased its stake in shares of Wabtec (NYSE:WAB) by 7.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 336,877 shares of the transportation company’s stock after selling 27,157 shares during the period. Candriam S.C.A.’s holdings in Wabtec were worth $97,098,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Pictet Asset Management Holding SA grew its holdings in Wabtec by 295.1% in the third quarter. Pictet Asset Management Holding SA now owns 391,942 shares of the transportation company’s stock worth $112,578,000 after purchasing an additional 292,733 shares during the period. Parallel Advisors LLC raised its holdings in shares of Wabtec by 8.4% during the third quarter. Parallel Advisors LLC now owns 2,509 shares of the transportation company’s stock valued at $721,000 after purchasing an additional 194 shares during the period. Alps Advisors Inc. raised its holdings in shares of Wabtec by 111.3% during the third quarter. Alps Advisors Inc. now owns 3,977 shares of the transportation company’s stock valued at $1,142,000 after purchasing an additional 2,095 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Wabtec by 41.2% during the third quarter. International Assets Investment Management LLC now owns 1,261 shares of the transportation company’s stock valued at $363,000 after purchasing an additional 368 shares during the period. Finally, Heritage Family Offices LLP boosted its position in shares of Wabtec by 7.6% during the 3rd quarter. Heritage Family Offices LLP now owns 1,112 shares of the transportation company’s stock worth $319,000 after purchasing an additional 79 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Wall Street Analysts Forecast Growth

WAB has been the subject of several research reports. Jefferies Financial Group raised their target price on Wabtec from $315.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Susquehanna boosted their target price on Wabtec from $305.00 to $340.00 and gave the company a “positive” rating in a research report on Thursday, July 23rd. KeyCorp upped their price target on Wabtec from $308.00 to $340.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Wall Street Zen lowered Wabtec from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Finally, Weiss Ratings upgraded Wabtec from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, October 26th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $320.18.

Wabtec Price Performance

WAB stock opened at $283.97 on Friday. The company has a market capitalization of $47.65 billion, a P/E ratio of 35.28, a price-to-earnings-growth ratio of 1.59 and a beta of 0.93. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.56 and a current ratio of 1.10. Wabtec has a 52-week low of $194.93 and a 52-week high of $306.64. The business has a 50-day simple moving average of $284.49 and a two-hundred day simple moving average of $269.14.

Wabtec (NYSE:WAB) last issued its quarterly earnings data on Wednesday, October 21st. The transportation company reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.73 by $0.10. The firm had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.20 billion. Wabtec had a return on equity of 15.72% and a net margin of 11.20%. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.32 EPS. Research analysts expect that Wabtec will post 10.97 EPS for the current fiscal year.

Wabtec Dividend Announcement

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

Insider Buying and Selling

In related news, EVP Gregory Sbrocco sold 952 shares of the company’s stock in a transaction 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 sale, the executive vice president owned 21,043 shares in the company, valued at approximately $6,312,900. This represents a 4.33% decrease in their ownership of the stock. The sale was disclosed in a 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, CEO Rafael Santana sold 1,087 shares of the stock in a transaction on Monday, October 5th. The shares were sold at an average price of $291.79, for a total value of $317,175.73. Following the completion of the sale, the chief executive officer directly owned 116,155 shares of the company’s stock, valued at $33,892,867.45. The trade was a 0.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 5,289 shares of company stock worth $1,555,741. 0.57% of the stock is owned by corporate insiders.

About Wabtec

Wabtec Corporation (NYSE: WAB), also known as Westinghouse Air Brake Technologies, supplies equipment, systems and services for the freight rail and passenger transit industries. Its products include locomotives, braking and train control systems, propulsion equipment, and components designed to support rail safety and performance.

The company also provides aftermarket services, including maintenance, modernization, parts and digital solutions for rail operators. Its offerings serve freight railroads, transit agencies and other customers in the global rail industry.

Wabtec was formed in 1999 through the merger of Westinghouse Air Brake Company and MotivePower Industries, bringing together businesses with roots in rail equipment dating to the 19th century.