David Deninno Sells 5,000 Shares of Wabtec (NYSE:WAB) Stock

Wabtec (NYSE:WAB) VP David Deninno sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $209.94, for a total transaction of $1,049,700.00. Following the transaction, the vice president owned 55,450 shares in the company, valued at approximately $11,641,173. This represents a 8.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Wabtec Stock Down 0.2%

Shares of WAB traded down $0.42 during midday trading on Friday, hitting $203.85. 175,133 shares of the company’s stock traded hands, compared to its average volume of 1,056,613. The company has a current ratio of 1.42, a quick ratio of 0.75 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $34.85 billion, a price-to-earnings ratio of 29.66, a price-to-earnings-growth ratio of 1.55 and a beta of 1.09. Wabtec has a 1 year low of $151.81 and a 1 year high of $216.10. The firm’s fifty day moving average is $197.24 and its 200-day moving average is $198.90.

Wabtec (NYSE:WAB) last announced its quarterly earnings data on Wednesday, October 22nd. The transportation company reported $2.32 earnings per share for the quarter, beating 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 analyst estimates of $2.88 billion. During the same period in the previous year, the company earned $2.00 earnings per share. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. As a group, sell-side analysts anticipate 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 will be paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 12th. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. Wabtec’s dividend payout ratio is currently 14.53%.

Institutional Investors Weigh In On Wabtec

Institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new position in Wabtec during the 2nd quarter valued at about $347,194,000. Pacer Advisors Inc. raised its holdings 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 purchasing an additional 706,227 shares in the last quarter. UBS Group AG boosted its stake in Wabtec by 194.2% in the third quarter. UBS Group AG now owns 1,033,304 shares of the transportation company’s stock valued at $207,146,000 after acquiring an additional 682,048 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in Wabtec in the second quarter valued at approximately $121,612,000. Finally, Aviva PLC increased its stake in Wabtec by 7,960.0% in the second quarter. Aviva PLC now owns 527,685 shares of the transportation company’s stock valued at $110,471,000 after purchasing an additional 521,138 shares during the period. 91.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Wall Street Zen lowered shares of Wabtec from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Bank of America lifted their target price on shares of Wabtec from $228.00 to $233.00 and gave the stock a “buy” rating in a research note on Thursday. Weiss Ratings reiterated a “buy (b)” rating on shares of Wabtec in a research report on Wednesday, October 8th. Morgan Stanley boosted their price target on shares of Wabtec from $220.00 to $226.00 and gave the stock an “overweight” rating in a research report on Monday, July 28th. Finally, Susquehanna increased their price objective on shares of Wabtec from $235.00 to $240.00 and gave the company a “positive” rating in a report on Thursday, October 23rd. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $224.56.

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.