Applied Finance Capital Management LLC Has $17.70 Million Stock Position in Wabtec (NYSE:WAB)

Key Points

• Applied Finance Capital Management LLC has reduced its position in Wabtec by 57.8%, now owning approximately 0.06% of the company, valued at $17.7 million.
• Several analysts have boosted their price targets for Wabtec, with Susquehanna raising it from $210.00 to $235.00, reflecting a generally positive outlook on the stock.
• Wabtec recently announced a quarterly dividend of $0.25 per share, representing an annualized yield of 0.51%, with the ex-dividend date set for August 14th.

Applied Finance Capital Management LLC lowered its stake in shares of Wabtec (NYSE:WAB - Free Report) by 57.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 97,626 shares of the transportation company's stock after selling 133,729 shares during the quarter. Applied Finance Capital Management LLC owned approximately 0.06% of Wabtec worth $17,704,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. grew its holdings in Wabtec by 2,220.1% during the 1st quarter. Pacer Advisors Inc. now owns 738,038 shares of the transportation company's stock worth $133,843,000 after acquiring an additional 706,227 shares during the last quarter. New York State Common Retirement Fund grew its holdings 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 acquiring an additional 19,600 shares during the last quarter. Greenleaf Trust grew its holdings in Wabtec by 2.8% during the 1st quarter. Greenleaf Trust now owns 3,437 shares of the transportation company's stock worth $623,000 after acquiring an additional 93 shares during the last quarter. Rhumbline Advisers grew its holdings 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 last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in Wabtec by 9.8% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 630 shares of the transportation company's stock worth $114,000 after acquiring an additional 56 shares during the last quarter. Institutional investors own 91.69% of the company's stock.

Wabtec Trading Up 0.0%

Wabtec stock traded up $0.07 during midday trading on Wednesday, hitting $192.85. 757,255 shares of the stock were exchanged, compared to its average volume of 1,056,747. The company has a fifty day simple moving average of $205.72 and a two-hundred day simple moving average of $194.32. Wabtec has a 52 week low of $147.66 and a 52 week high of $216.10. The stock has a market capitalization of $32.97 billion, a PE ratio of 28.83, a P/E/G ratio of 1.57 and a beta of 1.12. 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 released its quarterly earnings data 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 net margin of 10.92% and a return on equity of 13.65%. The business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same quarter last year, the firm earned $1.96 EPS. Wabtec's quarterly revenue was up 2.3% compared to the same quarter last year. Equities research analysts anticipate that Wabtec will post 8.54 EPS for the current fiscal year.

Wabtec Dividend Announcement

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 paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.52%. The ex-dividend date is Thursday, August 14th. Wabtec's payout ratio is 14.93%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Bank of America increased their price objective on shares of Wabtec from $231.00 to $236.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Morgan Stanley raised their target price on shares of Wabtec from $220.00 to $226.00 and gave the company an "overweight" rating in a research note on Monday. Wall Street Zen raised shares of Wabtec from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Susquehanna raised their target price 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. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $201.00 target price (up previously from $175.00) on shares of Wabtec in a research note on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $221.71.

Insider Buying and Selling at Wabtec

In other Wabtec news, EVP Gina Trombley sold 4,299 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The shares were 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 in the company, valued at approximately $2,766,592. This trade represents a 23.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Eric Gebhardt sold 6,151 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $202.39, for a total transaction of $1,244,900.89. Following the sale, the chief technology officer owned 18,697 shares in the company, valued at $3,784,085.83. This trade represents a 24.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 99,474 shares of company stock worth $19,283,505 over the last ninety days. 1.10% of the stock is owned by corporate insiders.

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.