Swedbank AB Acquires 3,616 Shares of Wabtec $WAB

Key Points

• Swedbank AB increased its stake in Wabtec by 8.2%, owning a total of 47,470 shares valued at approximately $9.94 million after acquiring additional shares in the second quarter.
• Wabtec reported quarterly earnings per share of $2.27, surpassing estimates, and announced a quarterly dividend of $0.25 per share, with a payout ratio of 14.93%.
• Institutional investors own 91.69% of Wabtec's stock, with various firms, including Pacer Advisors and BNP Paribas, significantly increasing their holdings during the first quarter of the year.

Swedbank AB lifted its stake in Wabtec (NYSE:WAB - Free Report) by 8.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,470 shares of the transportation company's stock after purchasing an additional 3,616 shares during the period. Swedbank AB's holdings in Wabtec were worth $9,938,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Wabtec by 9.8% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 630 shares of the transportation company's stock valued at $114,000 after purchasing an additional 56 shares in the last quarter. Greenleaf Trust increased its holdings in shares of Wabtec by 2.8% in the first quarter. Greenleaf Trust now owns 3,437 shares of the transportation company's stock valued at $623,000 after purchasing an additional 93 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of 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 in the last quarter. Aaron Wealth Advisors LLC boosted its stake in Wabtec by 13.9% in the second quarter. Aaron Wealth Advisors LLC now owns 2,061 shares of the transportation company's stock valued at $431,000 after acquiring an additional 252 shares during the last quarter. Finally, Putney Financial Group LLC bought a new position in Wabtec in the fourth quarter valued at approximately $52,000. Institutional investors and hedge funds own 91.69% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Susquehanna raised their price objective on shares of Wabtec from $210.00 to $235.00 and gave the company a "positive" rating in a research note on Friday, July 25th. KeyCorp reaffirmed an "overweight" rating and issued a $240.00 price objective (up from $220.00) on shares of Wabtec in a research note on Tuesday, June 24th. Wall Street Zen cut shares of Wabtec from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Citigroup assumed coverage on shares of Wabtec in a research note on Monday. They issued a "buy" rating and a $225.00 price objective on the stock. Finally, Morgan Stanley raised their price objective on shares of Wabtec from $220.00 to $226.00 and gave the company 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.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $222.88.

Insider Buying and Selling at Wabtec

In other news, CEO Rafael Santana sold 1,799 shares of the business's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $189.97, for a total transaction 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. The trade was a 1.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders have sold 5,369 shares of company stock worth $1,042,586. 1.10% of the stock is owned by insiders.

Wabtec Stock Up 4.9%

WAB traded up $9.27 during trading on Monday, hitting $197.97. The company had a trading volume of 2,312,320 shares, compared to its average volume of 990,996. The company has a market capitalization of $33.84 billion, a PE ratio of 29.55, a PEG ratio of 1.50 and a beta of 1.11. Wabtec has a one year low of $151.81 and a one year high of $216.10. The firm's 50-day moving average price is $194.63 and its 200 day moving average price is $193.05. 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 (NYSE:WAB - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The transportation company reported $2.27 EPS for the quarter, beating the consensus estimate of $2.18 by $0.09. The business had revenue of $2.71 billion for the quarter, compared to analysts' expectations of $2.76 billion. Wabtec had a net margin of 10.92% and a return on equity of 13.65%. The firm's revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.96 EPS. 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 earnings per share for the current year.

Wabtec Announces Dividend

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

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.