Allianz Asset Management GmbH cut its holdings in Wabtec (NYSE:WAB - Free Report) by 77.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 80,957 shares of the transportation company's stock after selling 280,904 shares during the quarter. Allianz Asset Management GmbH's holdings in Wabtec were worth $16,948,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. PFS Partners LLC increased its position in Wabtec by 70.4% in the second quarter. PFS Partners LLC now owns 121 shares of the transportation company's stock worth $25,000 after purchasing an additional 50 shares during the period. Trust Co. of Vermont increased its position in Wabtec by 44.2% in the second quarter. Trust Co. of Vermont now owns 163 shares of the transportation company's stock worth $34,000 after purchasing an additional 50 shares during the period. ST Germain D J Co. Inc. increased its position in Wabtec by 30.2% in the second quarter. ST Germain D J Co. Inc. now owns 207 shares of the transportation company's stock worth $43,000 after purchasing an additional 48 shares during the period. Ameritas Advisory Services LLC acquired a new stake in Wabtec in the second quarter worth about $44,000. Finally, Harbour Investments Inc. increased its position in Wabtec by 30.9% in the second quarter. Harbour Investments Inc. now owns 309 shares of the transportation company's stock worth $65,000 after purchasing an additional 73 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling 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 transaction of $341,756.03. Following the transaction, the chief executive officer owned 136,729 shares in the company, valued at $25,974,408.13. The trade was a 1.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 6,281 shares of company stock worth $1,204,240. Insiders own 1.10% of the company's stock.
Wabtec Price Performance
Wabtec stock opened at $196.29 on Tuesday. The firm has a market capitalization of $33.56 billion, a P/E ratio of 29.30, a PEG ratio of 1.50 and a beta of 1.10. Wabtec has a 1 year low of $151.81 and a 1 year high of $216.10. The business has a 50-day moving average of $193.68 and a 200-day moving average of $195.19. The company has a current ratio of 1.76, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44.
Wabtec (NYSE:WAB - Get Free Report) last posted its 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. The company had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.76 billion. Wabtec had a return on equity of 13.65% and a net margin of 10.92%.The company's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.96 EPS. Wabtec has set its FY 2025 guidance at 8.550-9.150 EPS. On average, equities analysts anticipate that Wabtec will post 8.54 EPS for the current year.
Wabtec Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Wednesday, November 12th. Wabtec's payout ratio is 14.93%.
Analyst Ratings Changes
A number of analysts recently commented on WAB shares. Citigroup started coverage on Wabtec in a research report on Monday, September 22nd. They issued a "buy" rating and a $225.00 price objective for the company. Wall Street Zen lowered Wabtec from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Weiss Ratings reiterated a "buy (b)" rating on shares of Wabtec in a research report on Wednesday, October 8th. Morgan Stanley lifted their price objective on Wabtec from $220.00 to $226.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Finally, Bank of America lifted 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. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Wabtec has an average rating of "Moderate Buy" and an average price target of $224.75.
Check Out Our Latest Stock Report on WAB
Wabtec Profile
(
Free Report)
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.
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