J. Safra Sarasin Holding AG Purchases Shares of 86,245 Wabtec $WAB

Key Points

• J. Safra Sarasin Holding AG acquired 86,245 shares of Wabtec, valued at approximately $18,055,000, during the second quarter.
• CEO Rafael Santana sold 1,799 shares for a total of $341,756.03, which decreased his ownership by 1.30%.
• Wabtec's stock received multiple upgrades from analysts, with price targets reaching as high as $236.00 and a consensus rating of 'Moderate Buy'.

J. Safra Sarasin Holding AG acquired a new position in shares of Wabtec (NYSE:WAB - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 86,245 shares of the transportation company's stock, valued at approximately $18,055,000. J. Safra Sarasin Holding AG owned 0.05% of Wabtec as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. ORG Partners LLC increased its position in Wabtec by 25.8% during the 2nd quarter. ORG Partners LLC now owns 512 shares of the transportation company's stock worth $107,000 after buying an additional 105 shares during the period. Kathmere Capital Management LLC bought a new position in shares of Wabtec during the second quarter worth approximately $263,000. Parallel Advisors LLC raised its position in shares of Wabtec by 5.7% in the second quarter. Parallel Advisors LLC now owns 2,147 shares of the transportation company's stock valued at $450,000 after buying an additional 115 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Wabtec by 11.7% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,649 shares of the transportation company's stock valued at $4,532,000 after buying an additional 2,268 shares during the period. Finally, Covea Finance grew its position in Wabtec by 2.8% during the second quarter. Covea Finance now owns 115,948 shares of the transportation company's stock worth $24,274,000 after buying an additional 3,200 shares in the last quarter. Institutional investors own 91.69% of the company's stock.

Insiders Place Their Bets

In other Wabtec news, CEO Rafael Santana sold 1,799 shares of the firm's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $189.97, for a total value of $341,756.03. Following the completion of the sale, the chief executive officer directly owned 136,729 shares of the company's stock, valued at $25,974,408.13. This trade represents a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders sold 5,369 shares of company stock worth $1,042,586 over the last three months. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

WAB has been the topic of a number of recent analyst reports. Susquehanna raised their price target on Wabtec from $210.00 to $235.00 and gave the stock a "positive" rating in a research report on Friday, July 25th. Morgan Stanley boosted their price target on Wabtec from $220.00 to $226.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Bank of America lifted their price target on shares of Wabtec from $231.00 to $236.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Wall Street Zen downgraded Wabtec from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Citigroup started coverage on shares of Wabtec in a research report on Monday, September 22nd. They issued a "buy" rating and a $225.00 price target for the company. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $222.88.

Wabtec Stock Performance

Shares of WAB opened at $197.75 on Friday. The firm has a market capitalization of $33.81 billion, a P/E ratio of 29.52, a P/E/G ratio of 1.54 and a beta of 1.10. The stock has a 50 day moving average price of $192.40 and a two-hundred day moving average price of $193.90. 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 quick ratio of 1.05 and a current ratio of 1.76.

Wabtec (NYSE:WAB - Get Free Report) last posted its quarterly earnings data 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 firm 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 revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the business posted $1.96 EPS. Wabtec has set its FY 2025 guidance at 8.550-9.150 EPS. Equities analysts forecast that Wabtec will post 8.54 earnings per share for the current fiscal year.

Wabtec Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $1.00 annualized dividend and a yield of 0.5%. Wabtec's payout ratio is currently 14.93%.

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.

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