Gulf International Bank UK Ltd Decreases Stock Holdings in Wabtec $WAB

Key Points

• Gulf International Bank UK Ltd reduced its stake in Wabtec by 25%, selling 3,513 shares, leaving it with a total of 10,559 shares valued at $1,914,000.
• Wabtec's latest earnings report showed an **EPS of $2.27**, exceeding analysts' expectations, while revenue was reported at **$2.71 billion**, slightly below estimates.
• The company recently declared a **quarterly dividend of $0.25 per share**, with an annualized yield of **0.5%** and a payout ratio of 14.93%.

Gulf International Bank UK Ltd reduced its position in Wabtec (NYSE:WAB - Free Report) by 25.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,559 shares of the transportation company's stock after selling 3,513 shares during the quarter. Gulf International Bank UK Ltd's holdings in Wabtec were worth $1,914,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pacer Advisors Inc. raised its holdings in Wabtec by 2,220.1% during the first quarter. Pacer Advisors Inc. now owns 738,038 shares of the transportation company's stock worth $133,843,000 after buying an additional 706,227 shares during the last quarter. Forsta AP Fonden grew its position in Wabtec by 40.4% during the first quarter. Forsta AP Fonden now owns 69,800 shares of the transportation company's stock valued at $12,658,000 after buying an additional 20,100 shares during the period. New York State Common Retirement Fund grew its position in Wabtec by 16.0% during the first quarter. New York State Common Retirement Fund now owns 142,163 shares of the transportation company's stock valued at $25,781,000 after buying an additional 19,600 shares during the period. Raiffeisen Bank International AG grew its position in Wabtec by 159.0% during the first quarter. Raiffeisen Bank International AG now owns 16,561 shares of the transportation company's stock valued at $3,011,000 after buying an additional 10,168 shares during the period. Finally, Rhumbline Advisers boosted its position in Wabtec by 3.0% during the first quarter. Rhumbline Advisers now owns 313,459 shares of the transportation company's stock worth $56,846,000 after purchasing an additional 9,041 shares during the period. 91.69% of the stock is owned by institutional investors.

Wabtec Trading Up 0.4%

NYSE:WAB traded up $0.81 during trading hours on Monday, hitting $189.97. The company had a trading volume of 926,229 shares, compared to its average volume of 1,087,464. The company has a market capitalization of $32.47 billion, a PE ratio of 28.35, a price-to-earnings-growth ratio of 1.51 and a beta of 1.11. The stock has a 50-day moving average price of $202.63 and a 200 day moving average price of $193.04. Wabtec has a 52 week low of $151.81 and a 52 week 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.

Wabtec (NYSE:WAB - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The transportation company reported $2.27 earnings per share for the quarter, beating the consensus estimate 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 in the previous year, the business posted $1.96 earnings per share. The firm's revenue for the quarter was up 2.3% compared to the same quarter last year. On average, equities research analysts predict that Wabtec will post 8.54 EPS for the current fiscal year.

Wabtec Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th will be issued 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 is Thursday, August 14th. Wabtec's payout ratio is 14.93%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Morgan Stanley increased their target price 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. Susquehanna raised their target price on shares of Wabtec from $210.00 to $235.00 and gave the company a "positive" rating in a research note on Friday, July 25th. The Goldman Sachs Group reissued a "neutral" rating and set a $201.00 price target (up from $175.00) on shares of Wabtec in a research note on Wednesday, April 23rd. Bank of America lifted their price target on shares of Wabtec from $231.00 to $236.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Finally, KeyCorp reissued an "overweight" rating and set a $240.00 price target (up from $220.00) on shares of Wabtec in a research note on Tuesday, June 24th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $222.57.

Insider Buying and Selling at Wabtec

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

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.