Nordea Investment Management AB Grows Holdings in Wabtec $WAB

Key Points

• Nordea Investment Management AB increased its holdings in Wabtec by 33.4%, now owning approximately 1.59 million shares, valued at $333 million as of the latest disclosure.
• The company reported $2.27 EPS for the quarter, beating analysts' estimates by $0.09, with a revenue of $2.71 billion, slightly below expectations.
• A quarterly dividend of $0.25 per share has been announced, set to be paid on November 26th, representing an annualized dividend of $1.00 and a yield of 0.5%.

Nordea Investment Management AB grew its holdings in Wabtec (NYSE:WAB - Free Report) by 33.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,592,529 shares of the transportation company's stock after purchasing an additional 398,782 shares during the period. Nordea Investment Management AB owned about 0.93% of Wabtec worth $333,062,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. ST Germain D J Co. Inc. increased its stake in shares of Wabtec by 30.2% during the second quarter. ST Germain D J Co. Inc. now owns 207 shares of the transportation company's stock valued at $43,000 after buying an additional 48 shares during the period. PFS Partners LLC increased its stake in shares of Wabtec by 70.4% during the second 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 increased its stake in shares of Wabtec by 44.2% during the second quarter. Trust Co. of Vermont now owns 163 shares of the transportation company's stock valued at $34,000 after buying an additional 50 shares during the period. UMB Bank n.a. grew its stake in Wabtec by 22.2% in the second quarter. UMB Bank n.a. now owns 358 shares of the transportation company's stock valued at $75,000 after purchasing an additional 65 shares during the last quarter. Finally, Harbour Investments Inc. grew its stake in Wabtec by 30.9% in the second quarter. Harbour Investments Inc. now owns 309 shares of the transportation company's stock valued at $65,000 after purchasing an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company's stock.

Wabtec Price Performance

Shares of NYSE WAB opened at $193.62 on Friday. 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 $33.10 billion, a PE ratio of 28.90, a P/E/G ratio of 1.53 and a beta of 1.10. The business has a 50-day simple moving average of $193.54 and a two-hundred day simple moving average of $194.67. Wabtec has a fifty-two week low of $151.81 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 EPS for the quarter, topping analysts' consensus estimates of $2.18 by $0.09. Wabtec had a return on equity of 13.65% and a net margin of 10.92%.The firm had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter in the previous year, the company posted $1.96 earnings per share. The company's revenue was up 2.3% compared to the same quarter last year. Wabtec has set its FY 2025 guidance at 8.550-9.150 EPS. As a group, equities analysts expect that Wabtec will post 8.54 EPS for the current fiscal year.

Wabtec Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Wednesday, November 12th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. Wabtec's payout ratio is 14.93%.

Insider Activity at Wabtec

In related news, CEO Rafael Santana sold 1,798 shares of Wabtec stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $195.04, for a total transaction of $350,681.92. Following the completion of the sale, the chief executive officer owned 133,133 shares of the company's stock, valued at $25,966,260.32. The trade was a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 6,281 shares of company stock worth $1,204,240 over the last three months. Insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on WAB shares. Morgan Stanley lifted their target price on Wabtec from $220.00 to $226.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Susquehanna lifted their target price on Wabtec from $210.00 to $235.00 and gave the company a "positive" rating in a research note on Friday, July 25th. KeyCorp reiterated an "overweight" rating and issued a $240.00 target price (up previously from $220.00) on shares of Wabtec in a research note on Tuesday, June 24th. Citigroup started coverage on Wabtec in a research note on Monday, September 22nd. They issued a "buy" rating and a $225.00 target price on the stock. Finally, Bank of America lifted their target price on Wabtec from $231.00 to $236.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $224.75.

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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