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TD Asset Management Inc Raises Stock Holdings in Wabtec $WAB

Wabtec logo with Transportation background

TD Asset Management Inc boosted its position in Wabtec (NYSE:WAB - Free Report) by 2.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 286,825 shares of the transportation company's stock after purchasing an additional 6,730 shares during the quarter. TD Asset Management Inc owned approximately 0.17% of Wabtec worth $60,047,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of WAB. NorthRock Partners LLC grew its position in shares of Wabtec by 34.5% in the 2nd quarter. NorthRock Partners LLC now owns 1,703 shares of the transportation company's stock worth $357,000 after buying an additional 437 shares during the period. Atria Wealth Solutions Inc. grew its holdings in Wabtec by 44.7% in the second quarter. Atria Wealth Solutions Inc. now owns 3,410 shares of the transportation company's stock worth $714,000 after purchasing an additional 1,054 shares during the period. Sequoia Financial Advisors LLC increased its stake in shares of Wabtec by 4.6% during the second quarter. Sequoia Financial Advisors LLC now owns 5,353 shares of the transportation company's stock valued at $1,121,000 after purchasing an additional 233 shares in the last quarter. Pzena Investment Management LLC lifted its holdings in shares of Wabtec by 4.8% during the second quarter. Pzena Investment Management LLC now owns 360,696 shares of the transportation company's stock valued at $75,512,000 after purchasing an additional 16,560 shares during the last quarter. Finally, MGO One Seven LLC boosted its position in shares of Wabtec by 283.7% in the 2nd quarter. MGO One Seven LLC now owns 4,412 shares of the transportation company's stock worth $924,000 after purchasing an additional 3,262 shares in the last quarter. Institutional investors own 91.69% of the company's stock.

Insider Activity at Wabtec

In related news, CEO Rafael Santana sold 1,798 shares of the company's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $189.63, for a total transaction of $340,954.74. Following the completion of the sale, the chief executive officer owned 134,931 shares in the company, valued at approximately $25,586,965.53. This represents a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 4,483 shares of company stock valued at $853,558 over the last three months. Insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

WAB has been the subject of a number of analyst reports. Wall Street Zen lowered Wabtec from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. KeyCorp restated an "overweight" rating and set a $240.00 price target (up from $220.00) on shares of Wabtec in a report on Tuesday, June 24th. Morgan Stanley lifted their price target on Wabtec from $220.00 to $226.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Citigroup assumed coverage on shares of Wabtec in a research report on Monday, September 22nd. They set a "buy" rating and a $225.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their target price on shares of Wabtec from $200.00 to $215.00 and gave the stock a "neutral" rating in a report on Tuesday. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $224.75.

Check Out Our Latest Research Report on Wabtec

Wabtec Price Performance

WAB opened at $197.29 on Thursday. The company's 50-day simple moving average is $193.43 and its two-hundred day simple moving average is $194.58. 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 stock has a market capitalization of $33.73 billion, a P/E ratio of 29.45, a P/E/G ratio of 1.52 and a beta of 1.10. Wabtec has a 52-week low of $151.81 and a 52-week high of $216.10.

Wabtec (NYSE:WAB - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $2.71 billion during 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 quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.96 earnings per share. Wabtec has set its FY 2025 guidance at 8.550-9.150 EPS. As a group, analysts predict that Wabtec will post 8.54 EPS for the current year.

Wabtec Profile

(Free Report)

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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Institutional Ownership by Quarter for Wabtec (NYSE:WAB)

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