Wabtec $WAB Shares Bought by Addenda Capital Inc.

Key Points

• Addenda Capital Inc. increased its holdings in Wabtec by 2.0% during Q2, owning a total of 78,069 shares valued at approximately $16.34 million.
• Wabtec's stock was recently downgraded from a "buy" to a "hold" rating, leading to varying price objectives from analysts, the highest being $240.00.
• The company declared a quarterly dividend of $0.25, translating to a 0.5% dividend yield, with a low payout ratio of 14.93%.

Addenda Capital Inc. boosted its holdings in shares of Wabtec (NYSE:WAB - Free Report) by 2.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 78,069 shares of the transportation company's stock after buying an additional 1,501 shares during the quarter. Addenda Capital Inc.'s holdings in Wabtec were worth $16,344,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in WAB. PFS Partners LLC increased its position in shares of Wabtec by 70.4% in the 2nd quarter. PFS Partners LLC now owns 121 shares of the transportation company's stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. ST Germain D J Co. Inc. grew its position in shares of Wabtec by 30.2% in the 2nd quarter. ST Germain D J Co. Inc. now owns 207 shares of the transportation company's stock valued at $43,000 after buying an additional 48 shares during the last quarter. UMB Bank n.a. grew its position in shares of Wabtec by 22.2% in the 2nd quarter. UMB Bank n.a. now owns 358 shares of the transportation company's stock valued at $75,000 after buying an additional 65 shares during the last quarter. ORG Partners LLC grew its position in shares of Wabtec by 25.8% in the 2nd quarter. ORG Partners LLC now owns 512 shares of the transportation company's stock valued at $107,000 after buying an additional 105 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in shares of Wabtec by 9.8% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 630 shares of the transportation company's stock valued at $114,000 after buying an additional 56 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on WAB shares. Wall Street Zen downgraded shares of Wabtec from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. JPMorgan Chase & Co. lowered their price objective on shares of Wabtec from $216.00 to $200.00 and set a "neutral" rating on the stock in a research report on Thursday, August 14th. Citigroup started 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. Susquehanna raised their price objective on shares of Wabtec from $210.00 to $235.00 and gave the stock a "positive" rating in a research report on Friday, July 25th. Finally, KeyCorp reissued an "overweight" rating and set a $240.00 price objective (up from $220.00) on shares of Wabtec in a research report on Tuesday, June 24th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $222.88.

Wabtec Stock Up 1.1%

Shares of NYSE WAB opened at $196.69 on Friday. Wabtec has a 12-month low of $151.81 and a 12-month high of $216.10. The company has a market cap of $33.62 billion, a P/E ratio of 29.36, a P/E/G ratio of 1.56 and a beta of 1.11. The company has a current ratio of 1.76, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. The stock has a fifty day moving average price of $193.25 and a 200 day moving average price of $193.45.

Wabtec (NYSE:WAB - Get Free Report) last announced 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 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 the consensus estimate of $2.76 billion. During the same period last year, the firm earned $1.96 earnings per share. The company's revenue was up 2.3% on a year-over-year basis. Wabtec has set its FY 2025 guidance at 8.550-9.150 EPS. Research analysts anticipate that Wabtec will post 8.54 EPS for the current fiscal year.

Wabtec Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were issued a $0.25 dividend. 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 dividend payout ratio is currently 14.93%.

Insider Activity

In other Wabtec news, CEO Rafael Santana sold 1,799 shares of Wabtec stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 136,729 shares in the company, valued at approximately $25,974,408.13. The trade was a 1.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 5,369 shares of company stock valued at $1,042,586 over the last quarter. 1.10% of the stock is currently 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.

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