Wabtec $WAB Shares Purchased by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC raised its holdings in shares of Wabtec (NYSE:WAB) by 1,788.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,953 shares of the transportation company’s stock after purchasing an additional 9,426 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Wabtec were worth $2,084,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Nordea Investment Management AB grew its position in shares of Wabtec by 33.4% during the second quarter. Nordea Investment Management AB now owns 1,592,529 shares of the transportation company’s stock worth $333,062,000 after buying an additional 398,782 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of Wabtec by 56.3% in the 2nd 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 in the last quarter. Pacer Advisors Inc. grew its position in shares of Wabtec by 2,220.1% in the 1st quarter. Pacer Advisors Inc. now owns 738,038 shares of the transportation company’s stock worth $133,843,000 after acquiring an additional 706,227 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of Wabtec by 46.0% in the 1st quarter. BNP Paribas Financial Markets now owns 380,793 shares of the transportation company’s stock worth $69,057,000 after acquiring an additional 120,057 shares in the last quarter. Finally, Pzena Investment Management LLC grew its position in shares of Wabtec by 4.8% in the 2nd quarter. Pzena Investment Management LLC now owns 360,696 shares of the transportation company’s stock worth $75,512,000 after acquiring an additional 16,560 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Analyst Ratings Changes

WAB has been the subject of several analyst reports. Susquehanna boosted their price target on shares of Wabtec from $235.00 to $240.00 and gave the company a “positive” rating in a report on Thursday. JPMorgan Chase & Co. boosted their price objective on Wabtec from $200.00 to $215.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Bank of America boosted their price objective on Wabtec from $231.00 to $236.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Citigroup assumed coverage on Wabtec in a research report on Monday, September 22nd. They set a “buy” rating and a $225.00 price target for the company. Finally, Wall Street Zen lowered Wabtec from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Wabtec has an average rating of “Moderate Buy” and an average price target of $225.38.

Wabtec Price Performance

Shares of NYSE WAB opened at $197.19 on Friday. Wabtec has a twelve month low of $151.81 and a twelve month high of $216.10. The company has a market capitalization of $33.71 billion, a price-to-earnings ratio of 28.66, a PEG ratio of 1.49 and a beta of 1.10. The firm has a 50-day moving average of $193.88 and a two-hundred day moving average of $195.45. The company has a current ratio of 1.42, a quick ratio of 1.05 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 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $2.88 billion. During the same period in the prior year, the business earned $2.00 earnings per share. The business’s quarterly revenue was up 8.4% on a year-over-year basis. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. As a group, analysts expect that Wabtec will post 8.54 earnings per share for the current fiscal year.

Wabtec Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend 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 14.93%.

Insider Buying and Selling

In related news, CEO Rafael Santana sold 1,798 shares of the company’s stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $195.04, for a total value of $350,681.92. Following the completion of the sale, the chief executive officer owned 133,133 shares in the company, valued at approximately $25,966,260.32. This represents a 1.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 6,281 shares of company stock worth $1,204,240 over the last ninety days. 1.10% of the stock is currently owned by corporate insiders.

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.