Wabtec (NYSE:WAB) Shares Purchased by Forsta AP Fonden

Key Points

• Forsta AP Fonden increased its holdings in Wabtec by 40.4%, acquiring an additional 20,100 shares, bringing their total ownership to 69,800 shares valued at approximately $12.66 million.
• Several institutional investors, including Pacer Advisors Inc. and Raiffeisen Bank International AG, significantly increased their stakes in Wabtec, indicating a strong institutional interest in the company.
• Wabtec's stock has a current average rating of "Moderate Buy" with a target price averaging $221.71, following positive adjustments from various analysts.

Forsta AP Fonden boosted its position in shares of Wabtec (NYSE:WAB - Free Report) by 40.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,800 shares of the transportation company's stock after purchasing an additional 20,100 shares during the period. Forsta AP Fonden's holdings in Wabtec were worth $12,658,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in WAB. Putney Financial Group LLC bought a new position in shares of Wabtec in the 4th quarter valued at about $52,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Wabtec by 9.8% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 630 shares of the transportation company's stock valued at $114,000 after acquiring an additional 56 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Wabtec in the 4th quarter valued at about $205,000. Mufg Securities Americas Inc. bought a new position in shares of Wabtec in the 4th quarter valued at about $481,000. Finally, Greenleaf Trust increased its stake in Wabtec by 2.8% in the first quarter. Greenleaf Trust now owns 3,437 shares of the transportation company's stock valued at $623,000 after acquiring an additional 93 shares during the last quarter. Institutional investors own 91.69% of the company's stock.

Wabtec Stock Performance

WAB traded up $1.16 during trading on Wednesday, reaching $194.07. 512,163 shares of the company's stock were exchanged, compared to its average volume of 1,090,887. 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 stock has a market capitalization of $33.18 billion, a P/E ratio of 28.95, a price-to-earnings-growth ratio of 1.53 and a beta of 1.11. The company's fifty day simple moving average is $203.42 and its 200-day simple moving average is $193.45.

Wabtec (NYSE:WAB - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The transportation company reported $2.27 EPS for the quarter, topping analysts' consensus estimates of $2.18 by $0.09. Wabtec had a net margin of 10.92% and a return on equity of 13.65%. The business had revenue of $2.71 billion for the quarter, compared to analysts' expectations of $2.76 billion. During the same quarter last year, the company earned $1.96 EPS. The business's revenue was up 2.3% on a year-over-year basis. As a group, research analysts predict that Wabtec will post 8.54 earnings per share for the current fiscal year.

Wabtec Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Thursday, August 14th. Wabtec's dividend payout ratio (DPR) is 14.93%.

Wall Street Analyst Weigh In

WAB has been the topic of several recent analyst reports. Susquehanna boosted their target price on shares of Wabtec from $210.00 to $235.00 and gave the company a "positive" rating in a report on Friday, July 25th. JPMorgan Chase & Co. upped their price target on shares of Wabtec from $175.00 to $194.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. Bank of America raised their price objective 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. Wall Street Zen cut shares of Wabtec from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, KeyCorp reaffirmed an "overweight" rating and set a $240.00 target price (up previously from $220.00) on shares of Wabtec in a research note on Tuesday, June 24th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Wabtec currently has a consensus rating of "Moderate Buy" and a consensus target price of $221.71.

Insider Transactions at Wabtec

In related news, VP David L. Deninno sold 3,000 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $201.05, for a total value of $603,150.00. Following the sale, the vice president directly owned 60,450 shares in the company, valued at approximately $12,153,472.50. The trade was a 4.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rafael Santana sold 886 shares of the business's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $213.35, for a total transaction of $189,028.10. Following the sale, the chief executive officer owned 141,186 shares in the company, valued at $30,122,033.10. This trade represents a 0.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,222 shares of company stock worth $3,083,767. 1.10% of the stock is owned by insiders.

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.