Jump Financial LLC Purchases 7,703 Shares of Wabtec $WAB

Key Points

• Jump Financial LLC increased its stake in Wabtec by 30.3%, acquiring an additional 7,703 shares to bring its total holdings to 33,100 shares worth approximately $6 million.
• Wabtec's CEO, Rafael Santana, sold 886 shares recently, reducing his ownership by 0.63%, while other institutional investors also significantly increased their positions in the company during the first quarter.
• The company reported earnings of $2.27 per share in its last results, exceeding analyst expectations, and declared a quarterly dividend of $0.25 per share, effective August 28th.

Jump Financial LLC increased its stake in Wabtec (NYSE:WAB - Free Report) by 30.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,100 shares of the transportation company's stock after buying an additional 7,703 shares during the period. Jump Financial LLC's holdings in Wabtec were worth $6,003,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Raiffeisen Bank International AG raised its stake in Wabtec by 159.0% in the first quarter. Raiffeisen Bank International AG now owns 16,561 shares of the transportation company's stock worth $3,011,000 after buying an additional 10,168 shares in the last quarter. New York State Common Retirement Fund increased its stake in shares of Wabtec by 16.0% in the 1st quarter. New York State Common Retirement Fund now owns 142,163 shares of the transportation company's stock worth $25,781,000 after acquiring an additional 19,600 shares in the last quarter. Putney Financial Group LLC purchased a new position in Wabtec during the 4th quarter valued at about $52,000. Mufg Securities Americas Inc. purchased a new position in Wabtec during the 4th quarter valued at about $481,000. Finally, Rhumbline Advisers boosted its stake 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 acquiring an additional 9,041 shares in the last quarter. 91.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on WAB. 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. Wall Street Zen downgraded Wabtec from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Morgan Stanley lifted their price objective on Wabtec from $220.00 to $226.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Bank of America lifted their price objective on Wabtec from $231.00 to $236.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Finally, Susquehanna lifted their price objective on Wabtec from $210.00 to $235.00 and gave the company a "positive" rating in a research note on Friday, July 25th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $222.57.

Insider Activity at Wabtec

In other news, EVP Gina Trombley sold 4,299 shares of Wabtec stock in a transaction on Friday, June 13th. The shares were sold at an average price of $202.00, for a total transaction of $868,398.00. Following the transaction, the executive vice president owned 13,696 shares in the company, valued at $2,766,592. This trade represents a 23.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Rafael Santana sold 886 shares of Wabtec stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $192.83, for a total transaction of $170,847.38. Following the transaction, the chief executive officer owned 139,414 shares in the company, valued at $26,883,201.62. This represents a 0.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,957 shares of company stock worth $1,406,563 in the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

Wabtec Stock Performance

WAB stock traded down $0.15 on Thursday, hitting $195.17. The company had a trading volume of 876,496 shares, compared to its average volume of 1,076,696. Wabtec has a 12-month low of $151.81 and a 12-month high of $216.10. The company has a current ratio of 1.76, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. The stock's 50-day simple moving average is $201.07 and its 200 day simple moving average is $192.49. The stock has a market cap of $33.36 billion, a price-to-earnings ratio of 29.13, a P/E/G ratio of 1.55 and a beta of 1.11.

Wabtec (NYSE:WAB - Get Free Report) last issued its earnings results on Thursday, July 24th. The transportation company reported $2.27 earnings per share (EPS) for the quarter, topping 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 company 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 posted $1.96 earnings per share. The firm's quarterly revenue was up 2.3% on a year-over-year basis. Wabtec has set its FY 2025 guidance at 8.550-9.150 EPS. As a group, equities research analysts expect that Wabtec will post 8.54 earnings per share for the current fiscal year.

Wabtec Announces Dividend

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