OLD National Bancorp IN Buys 221 Shares of Wabtec $WAB

OLD National Bancorp IN lifted its stake in Wabtec (NYSE:WAB) by 13.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,855 shares of the transportation company’s stock after acquiring an additional 221 shares during the period. OLD National Bancorp IN’s holdings in Wabtec were worth $388,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Wabtec by 56.3% in the second quarter. Robeco Institutional Asset Management B.V. now owns 778,156 shares of the transportation company’s stock worth $162,907,000 after acquiring an additional 280,140 shares during the period. Pacer Advisors Inc. boosted its stake in Wabtec by 2,220.1% during the first quarter. Pacer Advisors Inc. now owns 738,038 shares of the transportation company’s stock valued at $133,843,000 after buying an additional 706,227 shares during the period. BNP Paribas Financial Markets boosted its stake in Wabtec by 46.0% during the first quarter. BNP Paribas Financial Markets now owns 380,793 shares of the transportation company’s stock valued at $69,057,000 after buying an additional 120,057 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in Wabtec by 70.0% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 221,911 shares of the transportation company’s stock valued at $46,457,000 after buying an additional 91,381 shares during the period. Finally, QRG Capital Management Inc. boosted its stake in Wabtec by 6.5% during the second quarter. QRG Capital Management Inc. now owns 191,721 shares of the transportation company’s stock valued at $40,137,000 after buying an additional 11,675 shares during the period. 91.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

WAB has been the subject of several research analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Wabtec in a research note on Saturday, September 27th. Susquehanna lifted their price objective on Wabtec from $210.00 to $235.00 and gave the company a “positive” rating in a research note on Friday, July 25th. Bank of America lifted their price objective on Wabtec from $231.00 to $236.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Wall Street Zen lowered Wabtec from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, KeyCorp reissued an “overweight” rating and set a $240.00 price objective (up previously from $220.00) on shares of Wabtec in a research note on Tuesday, June 24th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $222.88.

Wabtec Trading Down 1.8%

Shares of WAB stock opened at $197.66 on Wednesday. The company has a quick ratio of 1.05, a current ratio of 1.76 and a debt-to-equity ratio of 0.44. The business has a 50-day moving average price of $192.65 and a two-hundred day moving average price of $194.28. Wabtec has a 12-month low of $151.81 and a 12-month high of $216.10. The firm has a market cap of $33.79 billion, a P/E ratio of 29.50, a price-to-earnings-growth ratio of 1.56 and a beta of 1.10.

Wabtec (NYSE:WAB) last issued its quarterly earnings results on Thursday, July 24th. The transportation company reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.09. Wabtec had a return on equity of 13.65% and a net margin of 10.92%.The firm had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.76 billion. During the same quarter in the previous year, the company posted $1.96 earnings per share. The company’s revenue was up 2.3% compared to the same quarter last year. Wabtec has set its FY 2025 guidance at 8.550-9.150 EPS. Equities analysts anticipate that Wabtec will post 8.54 EPS for the current fiscal year.

Wabtec Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were issued a $0.25 dividend. The ex-dividend date was Thursday, August 14th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Wabtec’s payout ratio is currently 14.93%.

Insider Activity at Wabtec

In other news, CEO Rafael Santana sold 1,799 shares of Wabtec stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $189.97, for a total value of $341,756.03. Following the transaction, the chief executive officer owned 136,729 shares in the company, valued at approximately $25,974,408.13. The trade was a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 4,483 shares of company stock valued at $853,558 in the last quarter. 1.10% of the stock is currently owned by insiders.

Wabtec Company 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.