Virtus Investment Advisers LLC Grows Position in Wabtec $WAB

Virtus Investment Advisers LLC grew its position in Wabtec (NYSE:WAB) by 8.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,530 shares of the transportation company’s stock after purchasing an additional 604 shares during the quarter. Virtus Investment Advisers LLC’s holdings in Wabtec were worth $1,576,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. PFS Partners LLC boosted its holdings in Wabtec by 70.4% in the second quarter. PFS Partners LLC now owns 121 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 50 shares in the last quarter. Colonial Trust Advisors lifted its position in shares of Wabtec by 454.5% during the 2nd quarter. Colonial Trust Advisors now owns 122 shares of the transportation company’s stock worth $26,000 after buying an additional 100 shares during the last quarter. Trust Co. of Vermont boosted its holdings in shares of Wabtec by 44.2% in the 2nd quarter. Trust Co. of Vermont now owns 163 shares of the transportation company’s stock valued at $34,000 after buying an additional 50 shares in the last quarter. ST Germain D J Co. Inc. grew its position in shares of Wabtec by 30.2% in the 2nd quarter. ST Germain D J Co. Inc. now owns 207 shares of the transportation company’s stock valued at $43,000 after buying an additional 48 shares during the last quarter. Finally, Ameritas Advisory Services LLC purchased a new position in shares of Wabtec in the 2nd quarter valued at $44,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

Wabtec Stock Up 0.8%

WAB opened at $207.81 on Friday. The firm has a market cap of $35.53 billion, a P/E ratio of 30.20, a PEG ratio of 1.55 and a beta of 1.09. The business’s fifty day simple moving average is $199.67 and its 200 day simple moving average is $199.82. Wabtec has a 52 week low of $151.81 and a 52 week high of $216.10. The company has a quick ratio of 0.75, a current ratio of 1.42 and a debt-to-equity ratio of 0.45.

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

Wabtec Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th were paid a dividend of $0.25 per share. The ex-dividend date was Wednesday, November 12th. This represents a $1.00 annualized dividend and a yield of 0.5%. Wabtec’s dividend payout ratio is currently 14.53%.

Insider Buying and Selling

In other news, CAO John A. Mastalerz, Jr. sold 2,766 shares of Wabtec stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $210.00, for a total value of $580,860.00. Following the transaction, the chief accounting officer directly owned 5,286 shares of the company’s stock, valued at $1,110,060. The trade was a 34.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Rafael Santana sold 1,799 shares of the stock in a transaction that occurred 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 sale, the chief executive officer directly owned 136,729 shares of the company’s stock, valued at approximately $25,974,408.13. This trade represents a 1.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 25,436 shares of company stock worth $5,145,024. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Bank of America lifted their target price on Wabtec from $228.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wabtec in a research report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price objective on Wabtec from $200.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Wells Fargo & Company assumed coverage on shares of Wabtec in a research report on Thursday, November 13th. They set an “equal weight” rating and a $221.00 target price on the stock. Finally, Wall Street Zen cut shares of Wabtec from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $226.78.

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.