Logan Capital Management Inc. Cuts Holdings in Wabtec $WAB

Logan Capital Management Inc. lessened its stake in Wabtec (NYSE:WAB) by 2.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,938 shares of the transportation company’s stock after selling 155 shares during the period. Logan Capital Management Inc.’s holdings in Wabtec were worth $1,243,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. PFS Partners LLC grew its stake in Wabtec by 70.4% in the 2nd 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 grew its stake 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 buying an additional 50 shares in the last quarter. ST Germain D J Co. Inc. grew its stake 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 buying an additional 48 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in Wabtec in the 2nd quarter worth approximately $44,000. Finally, Harbour Investments Inc. grew its stake in Wabtec by 30.9% in the 2nd quarter. Harbour Investments Inc. now owns 309 shares of the transportation company’s stock worth $65,000 after buying an additional 73 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Wabtec Trading Down 1.1%

Shares of WAB opened at $198.04 on Wednesday. The stock has a market capitalization of $33.86 billion, a P/E ratio of 28.78, a PEG ratio of 1.54 and a beta of 1.10. 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 firm has a fifty day simple moving average of $194.37 and a two-hundred day simple moving average of $196.47. Wabtec has a twelve month low of $151.81 and a twelve month high of $216.10.

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

Wabtec Dividend Announcement

The company also recently declared 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 of this dividend is Wednesday, November 12th. This represents a $1.00 annualized dividend and a yield of 0.5%. Wabtec’s dividend payout ratio is presently 14.53%.

Insider Buying and Selling at Wabtec

In other Wabtec news, EVP Gregory Sbrocco sold 2,953 shares of the company’s stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of $195.43, for a total value of $577,104.79. Following the completion of the transaction, the executive vice president directly owned 17,829 shares in the company, valued at approximately $3,484,321.47. This represents a 14.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Rafael Santana sold 1,799 shares of the company’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $189.97, for a total transaction of $341,756.03. Following the completion of the transaction, the chief executive officer owned 136,729 shares of the company’s stock, valued at $25,974,408.13. This trade represents a 1.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 9,234 shares of company stock valued at $1,781,345 over the last 90 days. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on WAB shares. Wall Street Zen cut shares of Wabtec from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. JPMorgan Chase & Co. upped their price objective 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. Morgan Stanley upped their price objective on shares of Wabtec from $220.00 to $226.00 and gave the company an “overweight” rating in a research note on Monday, July 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wabtec in a research note on Wednesday, October 8th. Finally, Susquehanna upped their price objective on shares of Wabtec from $235.00 to $240.00 and gave the company a “positive” rating in a research note on Thursday, October 23rd. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Wabtec currently has an average rating of “Moderate Buy” and an average target price of $225.38.

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.