Wabtec $WAB Shares Sold by Fred Alger Management LLC

Key Points

• Fred Alger Management LLC has reduced its position in Wabtec (NYSE: WAB) by 47.3%, selling 97,407 shares and now owning approximately 0.06% of the company valued at $19.71 million.
• Wabtec recently reported an earnings per share (EPS) of $2.27 for the most recent quarter, surpassing analysts' expectations of $2.18, while its revenue was $2.71 billion, below the estimated $2.76 billion.
• The company has declared a quarterly dividend of $0.25 per share, reflecting an annualized yield of 0.5%, with a dividend payout ratio of 14.93%.

Fred Alger Management LLC reduced its stake in shares of Wabtec (NYSE:WAB - Free Report) by 47.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 108,685 shares of the transportation company's stock after selling 97,407 shares during the period. Fred Alger Management LLC owned approximately 0.06% of Wabtec worth $19,710,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in WAB. Mufg Securities Americas Inc. purchased a new stake in shares of Wabtec during the 4th quarter worth $481,000. Raiffeisen Bank International AG purchased a new stake in shares of Wabtec during the 4th quarter worth $1,221,000. GF Fund Management CO. LTD. purchased a new stake in shares of Wabtec in the 4th quarter worth about $205,000. Putney Financial Group LLC purchased a new stake in shares of Wabtec in the 4th quarter worth about $52,000. Finally, MassMutual Private Wealth & Trust FSB boosted its position 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 worth $114,000 after buying an additional 56 shares in the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Wabtec

In other news, CEO Rafael Santana sold 886 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $192.83, for a total transaction of $170,847.38. Following the completion of the transaction, the chief executive officer owned 139,414 shares of the company's stock, valued at $26,883,201.62. This represents a 0.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders have sold 2,658 shares of company stock worth $538,165. Corporate insiders own 1.10% of the company's stock.

Wabtec Trading Down 1.7%

NYSE:WAB traded down $3.32 on Friday, reaching $188.86. The stock had a trading volume of 821,478 shares, compared to its average volume of 918,078. The company has a market cap of $32.29 billion, a price-to-earnings ratio of 28.19, a P/E/G ratio of 1.50 and a beta of 1.11. 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 firm's fifty day moving average is $197.42 and its two-hundred day moving average is $192.66. Wabtec has a 12-month low of $151.81 and a 12-month high of $216.10.

Wabtec (NYSE:WAB - Get Free Report) last released its earnings results on Thursday, July 24th. The transportation company reported $2.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.18 by $0.09. The company had revenue of $2.71 billion for 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 firm's quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.96 EPS. Wabtec has set its FY 2025 guidance at 8.550-9.150 EPS. Equities analysts expect that Wabtec will post 8.54 EPS for the current fiscal year.

Wabtec Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were issued 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 dividend payout ratio is 14.93%.

Analyst Ratings Changes

Several research firms recently commented on WAB. Morgan Stanley boosted their price objective 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. Wall Street Zen lowered shares of Wabtec from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. KeyCorp reiterated an "overweight" rating and issued a $240.00 price objective (up from $220.00) on shares of Wabtec in a research report on Tuesday, June 24th. Susquehanna boosted their price objective on shares of Wabtec from $210.00 to $235.00 and gave the stock a "positive" rating in a research report on Friday, July 25th. Finally, Bank of America boosted their price objective on shares of Wabtec from $231.00 to $236.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $222.57.

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.