Mizuho Securities USA LLC Has $2.48 Million Stock Holdings in Wabtec (NYSE:WAB)

Key Points

• Mizuho Securities USA LLC reduced its stake in Wabtec by 16.0%, now holding shares valued at approximately $2.48 million after selling 2,611 shares during the first quarter.
• Wabtec's CEO, Rafael Santana, sold 886 shares amounting to over $189,000, while other insiders have collectively sold over 16,000 shares worth approximately $3.26 million in the last three months.
• Wabtec recently announced a quarterly dividend of $0.25 per share, yielding 0.5%, and it has a current market capitalization of $32.74 billion.

Mizuho Securities USA LLC trimmed its holdings in shares of Wabtec (NYSE:WAB - Free Report) by 16.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,680 shares of the transportation company's stock after selling 2,611 shares during the period. Mizuho Securities USA LLC's holdings in Wabtec were worth $2,481,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. PFS Partners LLC raised its holdings in shares of Wabtec by 70.4% in the 2nd quarter. PFS Partners LLC now owns 121 shares of the transportation company's stock valued at $25,000 after purchasing an additional 50 shares during the period. Trust Co. of Vermont raised its holdings 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 valued at $34,000 after purchasing an additional 50 shares during the period. ST Germain D J Co. Inc. raised its holdings in shares of Wabtec by 30.2% in the 2nd quarter. ST Germain D J Co. Inc. now owns 207 shares of the transportation company's stock valued at $43,000 after purchasing an additional 48 shares during the period. Ameritas Advisory Services LLC bought a new position in Wabtec in the 2nd quarter valued at about $44,000. Finally, Putney Financial Group LLC bought a new position in Wabtec in the 4th quarter valued at about $52,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Wabtec

In other Wabtec news, CEO Rafael Santana sold 886 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $213.35, for a total value of $189,028.10. Following the sale, the chief executive officer owned 141,186 shares in the company, valued at $30,122,033.10. This trade represents a 0.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Gina Trombley sold 4,299 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 13,696 shares in the company, valued at $2,766,592. This represents a 23.89% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,108 shares of company stock worth $3,264,573. Corporate insiders own 1.10% of the company's stock.

Wabtec Stock Performance

NYSE WAB opened at $191.54 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. The firm has a market capitalization of $32.74 billion, a price-to-earnings ratio of 28.59, a P/E/G ratio of 1.53 and a beta of 1.11. The firm's 50 day simple moving average is $203.83 and its 200 day simple moving average is $193.57. Wabtec has a 1 year low of $151.81 and a 1 year high of $216.10.

Wabtec (NYSE:WAB - Get Free Report) last posted its quarterly 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. The business had revenue of $2.71 billion for 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 firm'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. As a group, research analysts expect that Wabtec will post 8.54 earnings per share for the current fiscal year.

Wabtec Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th will be given a $0.25 dividend. The ex-dividend date is Thursday, August 14th. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. Wabtec's dividend payout ratio (DPR) is currently 14.93%.

Analyst Ratings Changes

Several research firms have weighed in on WAB. JPMorgan Chase & Co. increased their price target on shares of Wabtec from $175.00 to $194.00 and gave the company a "neutral" rating in a report on Thursday, April 24th. Bank of America increased 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. Morgan Stanley increased their price target on shares of Wabtec from $220.00 to $226.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Susquehanna increased their price target on shares of Wabtec from $210.00 to $235.00 and gave the company a "positive" rating in a report on Friday, July 25th. Finally, KeyCorp reissued an "overweight" rating and issued a $240.00 price target (up from $220.00) on shares of Wabtec in a report on Tuesday, June 24th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $221.71.

About Wabtec

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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