Moran Wealth Management LLC Cuts Position in Wabtec $WAB

Key Points

• Moran Wealth Management LLC reduced its stake in Wabtec by 2.8%, selling 2,143 shares in the second quarter, leaving it with 75,213 shares valued at approximately $15.75 million.
• CEO Rafael Santana sold 1,799 shares of Wabtec stock, resulting in a 1.30% decrease in his ownership, which now stands at 136,729 shares valued at around $25.97 million.
• Wabtec reported earnings of $2.27 per share for the last quarter, exceeding analyst estimates, while also announcing a quarterly dividend of $0.25, translating to a 0.5% yield.

Moran Wealth Management LLC reduced its stake in Wabtec (NYSE:WAB - Free Report) by 2.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,213 shares of the transportation company's stock after selling 2,143 shares during the period. Moran Wealth Management LLC's holdings in Wabtec were worth $15,746,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. ORG Partners LLC increased its stake in Wabtec by 25.8% in the second quarter. ORG Partners LLC now owns 512 shares of the transportation company's stock valued at $107,000 after purchasing an additional 105 shares during the last quarter. Parallel Advisors LLC increased its stake in Wabtec by 5.7% in the second quarter. Parallel Advisors LLC now owns 2,147 shares of the transportation company's stock valued at $450,000 after purchasing an additional 115 shares during the last quarter. Kathmere Capital Management LLC purchased a new position in Wabtec in the second quarter valued at approximately $263,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Wabtec by 11.7% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,649 shares of the transportation company's stock valued at $4,532,000 after purchasing an additional 2,268 shares during the last quarter. Finally, Covea Finance increased its stake in Wabtec by 2.8% in the second quarter. Covea Finance now owns 115,948 shares of the transportation company's stock valued at $24,274,000 after purchasing an additional 3,200 shares during the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Rafael Santana sold 1,799 shares of Wabtec stock in a transaction on Friday, September 12th. The shares were sold at an average price of $189.97, for a total value of $341,756.03. Following the transaction, the chief executive officer directly owned 136,729 shares in the company, valued at $25,974,408.13. This trade represents a 1.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 4,483 shares of company stock valued at $853,558. Company insiders own 1.10% of the company's stock.

Wabtec Stock Performance

Shares of Wabtec stock opened at $193.49 on Tuesday. The firm's fifty day simple moving average is $193.11 and its 200-day simple moving average is $194.56. Wabtec has a 12 month low of $151.81 and a 12 month high of $216.10. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.76 and a quick ratio of 1.05. The stock has a market capitalization of $33.08 billion, a price-to-earnings ratio of 28.88, a PEG ratio of 1.48 and a beta of 1.10.

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

Wabtec Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on WAB shares. Wall Street Zen lowered shares of Wabtec from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Weiss Ratings restated a "buy (b)" rating on shares of Wabtec in a research report on Wednesday, October 8th. Morgan Stanley lifted their target price on shares of Wabtec from $220.00 to $226.00 and gave the company an "overweight" rating in a report on Monday, July 28th. KeyCorp reaffirmed an "overweight" rating and issued a $240.00 target price (up from $220.00) on shares of Wabtec in a report on Tuesday, June 24th. Finally, Bank of America lifted their target price on shares of Wabtec from $231.00 to $236.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Wabtec has a consensus rating of "Moderate Buy" and an average price target of $222.88.

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.

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