Wabtec $WAB Shares Sold by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC lowered its stake in Wabtec (NYSE:WAB) by 13.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,437 shares of the transportation company’s stock after selling 1,031 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Wabtec were worth $1,348,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Voya Investment Management LLC increased its holdings in Wabtec by 5.5% in the 1st quarter. Voya Investment Management LLC now owns 104,860 shares of the transportation company’s stock valued at $19,016,000 after purchasing an additional 5,423 shares during the last quarter. New York State Common Retirement Fund boosted its position in shares of Wabtec by 16.0% during the first quarter. New York State Common Retirement Fund now owns 142,163 shares of the transportation company’s stock worth $25,781,000 after buying an additional 19,600 shares during the period. Raiffeisen Bank International AG boosted its position in shares of Wabtec by 159.0% during the first quarter. Raiffeisen Bank International AG now owns 16,561 shares of the transportation company’s stock worth $3,011,000 after buying an additional 10,168 shares during the period. Putney Financial Group LLC purchased a new position in shares of Wabtec during the fourth quarter worth $52,000. Finally, BNP Paribas Financial Markets boosted its position in shares of Wabtec by 46.0% during the first quarter. BNP Paribas Financial Markets now owns 380,793 shares of the transportation company’s stock worth $69,057,000 after buying an additional 120,057 shares during the period. 91.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Morgan Stanley increased their target price on Wabtec from $220.00 to $226.00 and gave the stock an “overweight” rating in a research note on Monday, July 28th. Wall Street Zen lowered shares of Wabtec from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. KeyCorp restated an “overweight” rating and issued a $240.00 price objective (up previously from $220.00) on shares of Wabtec in a report on Tuesday, June 24th. JPMorgan Chase & Co. dropped their price objective on shares of Wabtec from $216.00 to $200.00 and set a “neutral” rating for the company in a report on Thursday, August 14th. Finally, Bank of America raised their price target on shares of Wabtec from $231.00 to $236.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $222.57.

Wabtec Stock Performance

NYSE WAB opened at $190.41 on Friday. Wabtec has a 1 year low of $151.81 and a 1 year high of $216.10. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.76 and a quick ratio of 1.05. The company has a market capitalization of $32.55 billion, a PE ratio of 28.42, a P/E/G ratio of 1.47 and a beta of 1.11. The company has a fifty day moving average of $195.42 and a two-hundred day moving average of $192.65.

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

Wabtec Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, August 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. Wabtec’s dividend payout ratio (DPR) is 14.93%.

Insider Activity

In other news, CEO Rafael Santana sold 1,799 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $189.97, for a total transaction of $341,756.03. Following the transaction, the chief executive officer directly owned 136,729 shares in the company, valued at approximately $25,974,408.13. This trade represents a 1.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 5,369 shares of company stock worth $1,042,586 in the last 90 days. Company insiders own 1.10% of the company’s stock.

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.