Wabtec $WAB Holdings Lowered by Swedbank AB

Key Points

• Swedbank AB reduced its holdings in Wabtec by 4.3% during the first quarter, selling 1,952 shares and retaining a total of 43,854 shares worth approximately $7,953,000.
• Several institutional investors, including BNP Paribas Financial Markets, increased their positions in Wabtec, with BNP Paribas boosting its stake by 46.0%.
• Wabtec recently announced a quarterly dividend of $0.25 per share, which represents a 0.5% annualized yield and a payout ratio of 14.93%.

Swedbank AB lowered its position in shares of Wabtec (NYSE:WAB - Free Report) by 4.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 43,854 shares of the transportation company's stock after selling 1,952 shares during the quarter. Swedbank AB's holdings in Wabtec were worth $7,953,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. raised its position in shares of Wabtec by 2,220.1% in 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 in the last quarter. BNP Paribas Financial Markets raised its position in shares of Wabtec by 46.0% in the 1st 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 in the last quarter. Rhumbline Advisers raised its position in shares of Wabtec by 3.0% in the 1st quarter. Rhumbline Advisers now owns 313,459 shares of the transportation company's stock valued at $56,846,000 after purchasing an additional 9,041 shares in the last quarter. New York State Common Retirement Fund raised its position in shares of 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 valued at $25,781,000 after acquiring an additional 19,600 shares in the last quarter. Finally, Voya Investment Management LLC raised its position in shares of Wabtec by 5.5% during the 1st quarter. Voya Investment Management LLC now owns 104,860 shares of the transportation company's stock valued at $19,016,000 after acquiring an additional 5,423 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company's stock.

Insiders Place Their Bets

In related news, CEO Rafael Santana sold 1,799 shares of the firm's stock in a transaction dated Friday, September 12th. The stock was 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 $25,974,408.13. This trade represents a 1.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 5,369 shares of company stock worth $1,042,586 over the last ninety days. Company insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. dropped their price target on Wabtec from $216.00 to $200.00 and set a "neutral" rating on the stock in a research report on Thursday, August 14th. Morgan Stanley increased their target price on Wabtec from $220.00 to $226.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Susquehanna increased their target price on Wabtec from $210.00 to $235.00 and gave the stock a "positive" rating in a research report on Friday, July 25th. KeyCorp reaffirmed an "overweight" rating and issued a $240.00 target price (up from $220.00) on shares of Wabtec in a research report on Tuesday, June 24th. Finally, Wall Street Zen lowered Wabtec from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $222.57.

Wabtec Stock Performance

Shares of NYSE:WAB traded down $1.72 on Friday, hitting $188.65. The company's stock had a trading volume of 506,522 shares, compared to its average volume of 1,072,128. Wabtec has a 12 month low of $151.81 and a 12 month high of $216.10. The company has a market capitalization of $32.25 billion, a price-to-earnings ratio of 28.16, a price-to-earnings-growth ratio of 1.47 and a beta of 1.11. The stock's 50-day moving average is $195.42 and its two-hundred day moving average is $192.65. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.76.

Wabtec (NYSE:WAB - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The transportation company reported $2.27 earnings per share (EPS) 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 company had revenue of $2.71 billion during the quarter, compared to analysts' expectations of $2.76 billion. During the same quarter in the prior year, the business posted $1.96 earnings per share. The company'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. On average, equities research analysts forecast that Wabtec will post 8.54 EPS for the current year.

Wabtec Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were paid 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 yield of 0.5%. Wabtec's dividend payout ratio (DPR) is currently 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.