Robeco Institutional Asset Management B.V. Boosts Holdings in Wabtec $WAB

Key Points

• Robeco Institutional Asset Management B.V. increased its holdings in Wabtec by 56.3% in the second quarter, accumulating a total of 778,156 shares valued at approximately $162.9 million.
• Several other hedge funds also boosted their stakes in Wabtec, with Pacer Advisors Inc. leading with a remarkable 2,220.1% increase during the first quarter.
• Wabtec's shares are receiving positive ratings from multiple analysts, with price targets raised to as high as $240.00, indicating strong market confidence in the company's growth prospects.

Robeco Institutional Asset Management B.V. grew its position in shares of Wabtec (NYSE:WAB - Free Report) by 56.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 778,156 shares of the transportation company's stock after purchasing an additional 280,140 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.45% of Wabtec worth $162,907,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. raised its stake in shares of Wabtec by 2,220.1% during the first 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 period. BNP Paribas Financial Markets raised its stake in shares of Wabtec by 46.0% during the first quarter. BNP Paribas Financial Markets now owns 380,793 shares of the transportation company's stock valued at $69,057,000 after purchasing an additional 120,057 shares during the period. Kingstone Capital Partners Texas LLC bought a new stake in shares of Wabtec in the second quarter worth $32,547,000. New York State Common Retirement Fund increased its stake in shares of Wabtec by 16.0% in the first quarter. New York State Common Retirement Fund now owns 142,163 shares of the transportation company's stock worth $25,781,000 after buying an additional 19,600 shares during the last quarter. Finally, Covea Finance increased its stake in shares of Wabtec by 2.8% in the second quarter. Covea Finance now owns 115,948 shares of the transportation company's stock worth $24,274,000 after buying an additional 3,200 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company's stock.

Insider Activity

In other news, CEO Rafael Santana sold 1,799 shares of the business's stock in a transaction on Friday, September 12th. The shares were sold at an average price of $189.97, for a total transaction of $341,756.03. Following the completion of the transaction, the chief executive officer owned 136,729 shares of the company's stock, valued at approximately $25,974,408.13. The trade was a 1.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 5,369 shares of company stock worth $1,042,586 over the last three months. Insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

WAB has been the subject of a number of research analyst reports. Susquehanna lifted their price target on shares of Wabtec from $210.00 to $235.00 and gave the stock a "positive" rating in a research note on Friday, July 25th. Citigroup initiated coverage on shares of Wabtec in a research note on Monday, September 22nd. They issued a "buy" rating and a $225.00 price target for the company. KeyCorp restated an "overweight" rating and issued a $240.00 price target (up previously from $220.00) on shares of Wabtec in a research note on Tuesday, June 24th. Bank of America lifted their price target on shares of Wabtec from $231.00 to $236.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Finally, Morgan Stanley lifted their price target on shares of Wabtec from $220.00 to $226.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $222.88.

Wabtec Stock Down 0.9%

WAB stock opened at $198.65 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.76 and a quick ratio of 1.05. Wabtec has a 1-year low of $151.81 and a 1-year high of $216.10. The firm has a fifty day moving average price of $192.46 and a two-hundred day moving average price of $193.79. The firm has a market cap of $33.96 billion, a price-to-earnings ratio of 29.65, a PEG ratio of 1.55 and a beta of 1.10.

Wabtec (NYSE:WAB - Get Free Report) last released its earnings results on Thursday, July 24th. The transportation company reported $2.27 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $2.76 billion. During the same quarter in the previous year, the firm earned $1.96 earnings per share. The firm's revenue for the quarter was up 2.3% compared to the same quarter last year. Wabtec has set its FY 2025 guidance at 8.550-9.150 EPS. Research analysts predict that Wabtec will post 8.54 EPS for the current year.

Wabtec Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Wabtec's payout ratio is 14.93%.

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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