KLP Kapitalforvaltning AS Has $21.10 Million Holdings in Wabtec (NYSE:WAB)

KLP Kapitalforvaltning AS lowered its stake in shares of Wabtec (NYSE:WAB - Free Report) by 2.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 116,326 shares of the transportation company's stock after selling 2,400 shares during the quarter. KLP Kapitalforvaltning AS owned about 0.07% of Wabtec worth $21,096,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Wabtec by 9.8% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 630 shares of the transportation company's stock worth $114,000 after purchasing an additional 56 shares during the period. Greenleaf Trust boosted its holdings in Wabtec by 2.8% in the 1st quarter. Greenleaf Trust now owns 3,437 shares of the transportation company's stock worth $623,000 after acquiring an additional 93 shares during the period. Putney Financial Group LLC purchased a new position in Wabtec in the 4th quarter worth approximately $52,000. DnB Asset Management AS boosted its holdings in Wabtec by 0.9% in the 4th quarter. DnB Asset Management AS now owns 48,101 shares of the transportation company's stock worth $9,119,000 after acquiring an additional 414 shares during the period. Finally, Twin Capital Management Inc. raised its position in shares of Wabtec by 4.3% in the 4th quarter. Twin Capital Management Inc. now owns 15,832 shares of the transportation company's stock valued at $3,002,000 after purchasing an additional 647 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company's stock.

Analyst Ratings Changes

WAB has been the topic of several research reports. Wall Street Zen raised Wabtec from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. JPMorgan Chase & Co. increased their target price on Wabtec from $175.00 to $194.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. The Goldman Sachs Group reissued a "neutral" rating and issued a $201.00 price target (up previously from $175.00) on shares of Wabtec in a research note on Wednesday, April 23rd. 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. Finally, Bank of America increased their price target on Wabtec from $231.00 to $236.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $221.00.

Insider Buying and Selling at Wabtec

In other Wabtec news, EVP Lilian Leroux sold 7,500 shares of Wabtec stock in a transaction on Monday, May 5th. The stock was sold at an average price of $192.19, for a total value of $1,441,425.00. Following the completion of the transaction, the executive vice president owned 13,755 shares in the company, valued at approximately $2,643,573.45. The trade was a 35.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $868,398.00. Following the completion of the sale, the executive vice president directly owned 13,696 shares of the company's stock, valued at $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 have sold 99,474 shares of company stock worth $19,283,505 over the last three months. 1.10% of the stock is currently owned by insiders.

Wabtec Stock Down 1.9%

Shares of NYSE WAB traded down $3.85 during mid-day trading on Friday, reaching $196.85. 1,313,600 shares of the company traded hands, compared to its average volume of 1,042,154. The stock has a market cap of $33.69 billion, a PE ratio of 30.85, a price-to-earnings-growth ratio of 1.53 and a beta of 1.12. The company's fifty day moving average is $206.41 and its two-hundred day moving average is $194.12. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.73 and a current ratio of 1.34. Wabtec has a fifty-two week low of $147.66 and a fifty-two week 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 firm had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.76 billion. Wabtec had a return on equity of 13.35% and a net margin of 10.53%. The company's revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.96 EPS. On average, analysts expect that Wabtec will post 8.54 earnings per share for the current year.

Wabtec Dividend Announcement

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 given a dividend of $0.25 per share. The ex-dividend date is Thursday, August 14th. This represents a $1.00 annualized dividend and a dividend yield of 0.51%. Wabtec's dividend payout ratio (DPR) is presently 15.67%.

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.