Boston Common Asset Management LLC Sells 20,253 Shares of Wabtec $WAB

Key Points

• Boston Common Asset Management LLC has reduced its holdings in Wabtec by 16.5% during the second quarter, selling 20,253 shares and owning 102,484 shares valued at approximately $21.5 million.
• CEO Rafael Santana recently sold 1,798 shares at an average price of $189.63, resulting in a 1.32% decrease in his total ownership.
• Wabtec reported a quarterly EPS of $2.27, beating analysts' estimates, with a current consensus target price of $222.88 after recent analyst upgrades.

Boston Common Asset Management LLC reduced its holdings in Wabtec (NYSE:WAB - Free Report) by 16.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 102,484 shares of the transportation company's stock after selling 20,253 shares during the quarter. Boston Common Asset Management LLC owned about 0.06% of Wabtec worth $21,455,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. QRG Capital Management Inc. increased its holdings in Wabtec by 6.5% in the second quarter. QRG Capital Management Inc. now owns 191,721 shares of the transportation company's stock worth $40,137,000 after purchasing an additional 11,675 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Wabtec by 70.0% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 221,911 shares of the transportation company's stock valued at $46,457,000 after acquiring an additional 91,381 shares in the last quarter. Ascent Group LLC increased its holdings in shares of Wabtec by 13.6% during the second quarter. Ascent Group LLC now owns 8,016 shares of the transportation company's stock valued at $1,678,000 after acquiring an additional 960 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of Wabtec during the second quarter valued at approximately $44,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in shares of Wabtec by 26.8% during the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,673 shares of the transportation company's stock valued at $350,000 after acquiring an additional 354 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors.

Insider Transactions at Wabtec

In related news, CEO Rafael Santana sold 1,798 shares of the business's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $189.63, for a total value of $340,954.74. Following the sale, the chief executive officer directly owned 134,931 shares in the company, valued at approximately $25,586,965.53. The trade was a 1.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 5,369 shares of company stock valued at $1,042,586. Insiders own 1.10% of the company's stock.

Analyst Ratings Changes

WAB has been the subject of several recent research reports. Bank of America boosted their price objective on Wabtec from $231.00 to $236.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Citigroup initiated coverage on Wabtec in a report on Monday, September 22nd. They set a "buy" rating and a $225.00 price objective for the company. Morgan Stanley boosted their price objective on Wabtec from $220.00 to $226.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Wall Street Zen cut Wabtec from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Wabtec in a research report on Saturday, September 27th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $222.88.

Wabtec Stock Up 1.2%

WAB stock opened at $200.33 on Friday. The stock's fifty day simple moving average is $192.46 and its two-hundred day simple moving average is $194.08. 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 has a 1-year low of $151.81 and a 1-year high of $216.10. The stock has a market cap of $34.25 billion, a P/E ratio of 29.90, a P/E/G ratio of 1.55 and a beta of 1.10.

Wabtec (NYSE:WAB - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The transportation company reported $2.27 EPS for the quarter, beating analysts' consensus estimates of $2.18 by $0.09. Wabtec had a return on equity of 13.65% and a net margin of 10.92%.The firm had revenue of $2.71 billion for the quarter, compared to analysts' expectations of $2.76 billion. During the same quarter in the prior year, the firm earned $1.96 EPS. The business's revenue for the quarter was up 2.3% compared to the same quarter last year. Wabtec has set its FY 2025 guidance at 8.550-9.150 EPS. Analysts expect that Wabtec will post 8.54 EPS for the current year.

Wabtec Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Thursday, August 14th. Wabtec's payout ratio is currently 14.93%.

Wabtec 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.

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