Cypress Capital Group Takes Position in Wabtec $WAB

Key Points

• Cypress Capital Group has acquired 2,688 shares of Wabtec, valued at approximately $563,000, marking a new investment position in the company.
• Wabtec reported a quarterly EPS of $2.27, exceeding expectations, but its revenue of $2.71 billion fell short of analyst estimates of $2.76 billion.
• The company declared a quarterly dividend of $0.25 per share, resulting in an annualized yield of 0.5% with a current payout ratio of 14.93%.

Cypress Capital Group bought a new position in shares of Wabtec (NYSE:WAB - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,688 shares of the transportation company's stock, valued at approximately $563,000.

Other large investors have also added to or reduced their stakes in the company. OFI Invest Asset Management increased its stake in Wabtec by 51.1% during the 2nd quarter. OFI Invest Asset Management now owns 568 shares of the transportation company's stock worth $119,000 after buying an additional 192 shares during the period. Board of the Pension Protection Fund grew its stake in shares of Wabtec by 760.0% during the second quarter. Board of the Pension Protection Fund now owns 8,600 shares of the transportation company's stock valued at $1,800,000 after acquiring an additional 7,600 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Wabtec by 22.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 18,619 shares of the transportation company's stock worth $3,899,000 after acquiring an additional 3,449 shares during the last quarter. Aberdeen Group plc increased its position in shares of Wabtec by 0.4% during the second quarter. Aberdeen Group plc now owns 212,350 shares of the transportation company's stock worth $44,486,000 after acquiring an additional 930 shares during the last quarter. Finally, PDS Planning Inc lifted its stake in shares of Wabtec by 12.9% in the second quarter. PDS Planning Inc now owns 1,891 shares of the transportation company's stock worth $396,000 after acquiring an additional 216 shares in the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

Wabtec Stock Down 2.4%

Shares of NYSE:WAB opened at $190.92 on Monday. The company's fifty day moving average is $192.98 and its two-hundred day moving average is $194.47. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.76. Wabtec has a 1-year low of $151.81 and a 1-year high of $216.10. The stock has a market capitalization of $32.64 billion, a price-to-earnings ratio of 28.50, a price-to-earnings-growth ratio of 1.48 and a beta of 1.10.

Wabtec (NYSE:WAB - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The transportation company reported $2.27 EPS 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 analyst estimates of $2.76 billion. Wabtec had a net margin of 10.92% and a return on equity of 13.65%. The company's quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.96 EPS. Wabtec has set its FY 2025 guidance at 8.550-9.150 EPS. Equities analysts anticipate that Wabtec will post 8.54 EPS for the current year.

Wabtec Announces Dividend

The business also recently declared 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Thursday, August 14th. Wabtec's dividend payout ratio is presently 14.93%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on WAB shares. Susquehanna lifted their price objective on Wabtec from $210.00 to $235.00 and gave the stock a "positive" rating in a report on Friday, July 25th. Morgan Stanley raised their price target on shares of Wabtec from $220.00 to $226.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Wabtec in a report on Wednesday, October 8th. Citigroup assumed coverage on shares of Wabtec in a report on Monday, September 22nd. They set a "buy" rating and a $225.00 price objective for the company. Finally, Bank of America upped their target price on shares of Wabtec from $231.00 to $236.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $222.88.

Insider Activity

In related news, CEO Rafael Santana sold 1,798 shares of the business's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $189.63, for a total transaction of $340,954.74. Following the completion of the transaction, the chief executive officer owned 134,931 shares in the company, valued at $25,586,965.53. The trade was a 1.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 4,483 shares of company stock valued at $853,558. Company insiders own 1.10% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.