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

Several other hedge funds have also modified their holdings of WAB. Raiffeisen Bank International AG raised its position in Wabtec by 159.0% in the 1st quarter. Raiffeisen Bank International AG now owns 16,561 shares of the transportation company's stock worth $3,011,000 after purchasing an additional 10,168 shares during the last quarter. New York State Common Retirement Fund lifted its stake in shares of 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 acquiring an additional 19,600 shares during the period. Putney Financial Group LLC acquired a new position in shares of Wabtec during the fourth quarter valued at $52,000. Mufg Securities Americas Inc. bought a new position in shares of Wabtec in the 4th quarter valued at about $481,000. Finally, Rhumbline Advisers lifted its holdings in Wabtec by 3.0% in the first quarter. Rhumbline Advisers now owns 313,459 shares of the transportation company's stock valued at $56,846,000 after buying an additional 9,041 shares during the period. 91.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. The Goldman Sachs Group restated a "neutral" rating and set a $201.00 target price (up previously from $175.00) on shares of Wabtec in a report on Wednesday, April 23rd. KeyCorp restated an "overweight" rating and set a $240.00 price objective (up previously from $220.00) on shares of Wabtec in a report on Tuesday, June 24th. Susquehanna increased their target price on shares of Wabtec from $210.00 to $235.00 and gave the stock a "positive" rating in a report on Friday, July 25th. JPMorgan Chase & Co. decreased their price target on shares of Wabtec from $216.00 to $200.00 and set a "neutral" rating for the company in a report on Thursday, August 14th. Finally, Morgan Stanley lifted 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. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Wabtec presently has an average rating of "Moderate Buy" and an average target price of $222.57.

Insider Buying and Selling

In other news, CTO Eric Gebhardt sold 6,151 shares of Wabtec stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $202.39, for a total transaction of $1,244,900.89. Following the completion of the transaction, the chief technology officer directly owned 18,697 shares in the company, valued at $3,784,085.83. This trade represents a 24.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gina Trombley sold 4,299 shares of the firm's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $202.00, for a total value of $868,398.00. Following the transaction, the executive vice president owned 13,696 shares in the company, valued at approximately $2,766,592. This trade represents a 23.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,222 shares of company stock valued at $3,083,767 in the last quarter. 1.10% of the stock is currently owned by company insiders.

Wabtec Stock Performance

WAB stock traded up $2.3330 during midday trading on Tuesday, reaching $192.1430. 245,079 shares of the company were exchanged, compared to its average volume of 1,084,270. The firm has a market capitalization of $32.85 billion, a price-to-earnings ratio of 28.67, a price-to-earnings-growth ratio of 1.51 and a beta of 1.11. The business has a 50-day moving average price of $202.32 and a two-hundred day moving average price of $192.92. Wabtec has a one year low of $151.81 and a one 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.

Wabtec (NYSE:WAB - Get Free Report) last posted its 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 company had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.76 billion. Wabtec had a return on equity of 13.65% and a net margin of 10.92%.The firm's revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.96 earnings per share. Wabtec has set its FY 2025 guidance at 8.550-9.150 EPS. Equities research analysts forecast that Wabtec will post 8.54 EPS for the current year.

Wabtec Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th will be paid 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 of this dividend is Thursday, August 14th. Wabtec's dividend payout ratio (DPR) is presently 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.