Vantage Investment Partners LLC Sells 39,652 Shares of Wabtec $WAB

Vantage Investment Partners LLC cut its holdings in Wabtec (NYSE:WAB) by 19.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 162,609 shares of the transportation company’s stock after selling 39,652 shares during the quarter. Wabtec makes up approximately 2.8% of Vantage Investment Partners LLC’s holdings, making the stock its 13th largest holding. Vantage Investment Partners LLC owned about 0.10% of Wabtec worth $46,698,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Resona Asset Management Co. Ltd. boosted its stake in shares of Wabtec by 348.6% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 233,300 shares of the transportation company’s stock valued at $62,806,000 after purchasing an additional 181,296 shares in the last quarter. QRG Capital Management Inc. boosted its position in Wabtec by 5.5% during the 2nd quarter. QRG Capital Management Inc. now owns 93,442 shares of the transportation company’s stock valued at $25,192,000 after acquiring an additional 4,878 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of Wabtec by 15.0% during the 1st quarter. Hsbc Holdings PLC now owns 351,769 shares of the transportation company’s stock worth $87,735,000 after acquiring an additional 45,760 shares during the period. Copeland Capital Management LLC grew its holdings in shares of Wabtec by 861.4% during the 1st quarter. Copeland Capital Management LLC now owns 46,707 shares of the transportation company’s stock worth $11,673,000 after acquiring an additional 41,849 shares during the period. Finally, State Street Corp raised its position 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 worth $2,131,390,000 after acquiring an additional 164,806 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Wabtec Stock Up 1.2%

Shares of NYSE:WAB opened at $282.22 on Thursday. The company has a current ratio of 1.10, a quick ratio of 0.56 and a debt-to-equity ratio of 0.41. The stock has a fifty day simple moving average of $285.98 and a two-hundred day simple moving average of $267.09. Wabtec has a 12-month low of $194.93 and a 12-month high of $306.64. The stock has a market capitalization of $47.36 billion, a price-to-earnings ratio of 35.06, a PEG ratio of 1.53 and a beta of 0.92.

Wabtec (NYSE:WAB) last released its earnings results 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 for the quarter, compared to analysts’ expectations of $3.20 billion. Wabtec had a return on equity of 15.72% and a net margin of 11.20%. The company’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.32 earnings per share. On average, research analysts anticipate that Wabtec will post 10.97 earnings per share for the current fiscal year.

Wabtec Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 17th will be paid 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 is Tuesday, November 17th. Wabtec’s dividend payout ratio (DPR) is currently 15.40%.

Insider Buying and Selling at Wabtec

In other Wabtec news, insider Michael Fetsko sold 3,250 shares of Wabtec stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $293.22, for a total value of $952,965.00. Following the completion of the transaction, the insider directly owned 37,380 shares of the company’s stock, valued at approximately $10,960,563.60. The trade was a 8.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rafael Santana sold 1,087 shares of the company’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $291.79, for a total transaction of $317,175.73. Following the completion of the transaction, the chief executive officer owned 116,155 shares in the company, valued at approximately $33,892,867.45. This represents a 0.93% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 6,452 shares of company stock worth $1,903,524. 0.57% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on WAB shares. Morgan Stanley raised their target price on Wabtec from $318.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Rothschild & Co Redburn lowered their price objective on Wabtec from $293.00 to $292.00 and set a “buy” rating for the company in a research report on Wednesday, July 29th. Susquehanna upped their target price on shares of Wabtec from $305.00 to $340.00 and gave the stock a “positive” rating in a research report on Thursday, July 23rd. KeyCorp upped their target price on shares of Wabtec from $308.00 to $340.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Finally, Wall Street Zen cut shares of Wabtec from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $320.18.

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.