Mirae Asset Global Investments Co. Ltd. Raises Stock Holdings in Wabtec $WAB

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in Wabtec by 5.4%, bringing its total holdings to 33,864 shares worth approximately $7.09 million.
• Wabtec reported a quarterly EPS of $2.27, exceeding analysts' estimates of $2.18, along with a revenue of $2.71 billion, slightly below expectations.
• The company has declared a quarterly dividend of $0.25, reflecting an annualized dividend yield of 0.5% and a payout ratio of 14.93%.

Mirae Asset Global Investments Co. Ltd. lifted its stake in Wabtec (NYSE:WAB - Free Report) by 5.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,864 shares of the transportation company's stock after acquiring an additional 1,740 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Wabtec were worth $7,089,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in WAB. ST Germain D J Co. Inc. boosted its holdings in Wabtec by 30.2% in the second quarter. ST Germain D J Co. Inc. now owns 207 shares of the transportation company's stock worth $43,000 after purchasing an additional 48 shares during the last quarter. PFS Partners LLC lifted its holdings in shares of Wabtec by 70.4% during the 2nd quarter. PFS Partners LLC now owns 121 shares of the transportation company's stock valued at $25,000 after buying an additional 50 shares during the period. Trust Co. of Vermont boosted its stake in shares of Wabtec by 44.2% in the 2nd quarter. Trust Co. of Vermont now owns 163 shares of the transportation company's stock worth $34,000 after buying an additional 50 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of Wabtec by 22.2% in the second quarter. UMB Bank n.a. now owns 358 shares of the transportation company's stock worth $75,000 after acquiring an additional 65 shares during the period. Finally, CX Institutional increased its position in Wabtec by 6.3% during the second quarter. CX Institutional now owns 1,478 shares of the transportation company's stock valued at $309,000 after acquiring an additional 87 shares during the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Wabtec Price Performance

NYSE WAB opened at $200.33 on Monday. The company has a current ratio of 1.76, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. Wabtec has a 12 month low of $151.81 and a 12 month high of $216.10. The stock has a market cap of $34.25 billion, a price-to-earnings ratio of 29.90, a PEG ratio of 1.55 and a beta of 1.10. The company's 50 day moving average is $192.46 and its two-hundred day moving average is $194.14.

Wabtec (NYSE:WAB - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The transportation company reported $2.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.18 by $0.09. The firm had revenue of $2.71 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the prior year, the company posted $1.96 earnings per share. Wabtec has set its FY 2025 guidance at 8.550-9.150 EPS. As a group, research analysts anticipate that Wabtec will post 8.54 earnings per share for the current year.

Wabtec Announces Dividend

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

Insider Activity

In related news, CEO Rafael Santana sold 1,798 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $189.63, for a total transaction of $340,954.74. Following the completion of the sale, the chief executive officer owned 134,931 shares in the company, valued at approximately $25,586,965.53. This trade represents a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 4,483 shares of company stock worth $853,558 in the last three months. Company insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Wall Street Zen cut Wabtec from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. KeyCorp reiterated an "overweight" rating and issued a $240.00 price objective (up previously from $220.00) on shares of Wabtec in a research note on Tuesday, June 24th. Bank of America boosted their target price on shares of Wabtec from $231.00 to $236.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Wabtec in a report on Saturday, September 27th. Finally, Morgan Stanley increased their price target 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. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $222.88.

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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