Wabtec (NYSE:WAB) Shares Bought by Raiffeisen Bank International AG

Key Points

• Raiffeisen Bank International AG significantly increased its holdings in Wabtec by 159%, acquiring an additional 10,168 shares, bringing its total to 16,561 shares worth approximately $3.01 million.
• Multiple brokerages have raised their price targets for Wabtec, with Bank of America setting a new target of $236.00 and maintaining a "buy" rating, amid overall positive analyst sentiment for the stock.
• Wabtec announced a quarterly dividend of $0.25 per share, reflecting an annualized dividend yield of 0.5% and a dividend payout ratio of 14.93%.

Raiffeisen Bank International AG raised its holdings in Wabtec (NYSE:WAB - Free Report) by 159.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,561 shares of the transportation company's stock after buying an additional 10,168 shares during the quarter. Raiffeisen Bank International AG's holdings in Wabtec were worth $3,011,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. New York State Common Retirement Fund grew its position in Wabtec by 16.0% during the 1st quarter. New York State Common Retirement Fund now owns 142,163 shares of the transportation company's stock worth $25,781,000 after purchasing an additional 19,600 shares during the last quarter. Putney Financial Group LLC purchased a new position in Wabtec in the 4th quarter worth $52,000. Mufg Securities Americas Inc. acquired a new stake in Wabtec during the 4th quarter worth about $481,000. Rhumbline Advisers lifted its position in Wabtec by 3.0% during the 1st quarter. Rhumbline Advisers now owns 313,459 shares of the transportation company's stock worth $56,846,000 after acquiring an additional 9,041 shares during the period. Finally, Pacer Advisors Inc. grew its stake in Wabtec by 2,220.1% during the 1st quarter. Pacer Advisors Inc. now owns 738,038 shares of the transportation company's stock valued at $133,843,000 after purchasing an additional 706,227 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company's stock.

Insider Buying and Selling

In other Wabtec news, CEO Rafael Santana sold 886 shares of the firm's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $213.35, for a total value of $189,028.10. Following the transaction, the chief executive officer owned 141,186 shares in the company, valued at approximately $30,122,033.10. This trade represents a 0.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Gina Trombley sold 4,299 shares of the company's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $202.00, for a total transaction of $868,398.00. Following the sale, the executive vice president directly owned 13,696 shares of the company's stock, valued at $2,766,592. The trade was a 23.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,141 shares of company stock worth $4,071,334 in the last quarter. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Susquehanna upped their target price on Wabtec from $210.00 to $235.00 and gave the company a "positive" rating in a research report on Friday, July 25th. JPMorgan Chase & Co. raised their target price on shares of Wabtec from $175.00 to $194.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. The Goldman Sachs Group restated a "neutral" rating and set a $201.00 target price (up from $175.00) on shares of Wabtec in a research report on Wednesday, April 23rd. Bank of America lifted their price objective on Wabtec from $231.00 to $236.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Finally, Morgan Stanley upped their target price on Wabtec from $220.00 to $226.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $221.71.

Wabtec Price Performance

Shares of NYSE:WAB traded up $1.81 during trading on Tuesday, reaching $188.80. 1,656,521 shares of the company's stock traded hands, compared to its average volume of 1,289,431. The company has a quick ratio of 1.05, a current ratio of 1.76 and a debt-to-equity ratio of 0.44. Wabtec has a fifty-two week low of $149.93 and a fifty-two week high of $216.10. The company has a 50-day simple moving average of $204.86 and a 200-day simple moving average of $194.04. The firm has a market cap of $32.28 billion, a PE ratio of 28.18, a P/E/G ratio of 1.49 and a beta of 1.11.

Wabtec (NYSE:WAB - Get Free Report) last announced its earnings results on Thursday, July 24th. The transportation company reported $2.27 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $2.76 billion. During the same period in the prior year, the company posted $1.96 EPS. The business's quarterly revenue was up 2.3% on a year-over-year basis. As a group, analysts predict that Wabtec will post 8.54 earnings per share for the current year.

Wabtec Announces Dividend

The company 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 annualized dividend and a yield of 0.5%. The ex-dividend date is Thursday, August 14th. Wabtec's payout ratio is presently 14.93%.

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.