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

Other institutional investors have also recently bought and sold shares of the company. PFS Partners LLC raised its stake 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 acquiring an additional 50 shares in the last quarter. Trust Co. of Vermont raised 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 valued at $34,000 after acquiring an additional 50 shares in the last quarter. ST Germain D J Co. Inc. raised its stake 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 acquiring an additional 48 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in shares of Wabtec in the 2nd quarter valued at approximately $44,000. Finally, Putney Financial Group LLC bought a new position in shares of Wabtec in the 4th quarter valued at approximately $52,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Wabtec Price Performance

Wabtec stock traded down $1.37 on Friday, reaching $189.60. The company's stock had a trading volume of 297,956 shares, compared to its average volume of 1,087,820. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.76. The company has a market cap of $32.41 billion, a price-to-earnings ratio of 28.35, a PEG ratio of 1.55 and a beta of 1.11. The business's fifty day moving average price is $202.98 and its 200 day moving average price is $193.37. Wabtec has a twelve month low of $151.81 and a twelve month high of $216.10.

Wabtec (NYSE:WAB - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The transportation company reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.09. Wabtec had a return on equity of 13.65% and a net margin of 10.92%. The business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same quarter in the prior year, the firm posted $1.96 earnings per share. The firm's revenue for the quarter was up 2.3% compared to the same quarter last year. Equities analysts expect that Wabtec will post 8.54 earnings per share for the current fiscal year.

Wabtec Announces Dividend

The business also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Thursday, August 14th. Wabtec's dividend payout ratio is currently 14.93%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on WAB. The Goldman Sachs Group reissued a "neutral" rating and issued a $201.00 price objective (up from $175.00) on shares of Wabtec in a research note on Wednesday, April 23rd. KeyCorp reaffirmed an "overweight" rating and issued a $240.00 price target (up from $220.00) on shares of Wabtec in a research report on Tuesday, June 24th. Bank of America lifted their price target on Wabtec from $231.00 to $236.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Susquehanna lifted 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. Finally, Wall Street Zen cut Wabtec from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $222.57.

Insider Buying and Selling

In other Wabtec news, CTO Eric Gebhardt sold 6,151 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $202.39, for a total value of $1,244,900.89. Following the completion of the sale, the chief technology officer directly owned 18,697 shares in the company, valued at $3,784,085.83. This represents a 24.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gina Trombley sold 4,299 shares of the stock in a transaction dated Friday, June 13th. The stock was 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 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. Over the last ninety days, insiders have sold 15,222 shares of company stock worth $3,083,767. Company insiders own 1.10% of the company's stock.

Wabtec 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.