BNP Paribas Financial Markets Raises Position in Wabtec $WAB

Key Points

• BNP Paribas Financial Markets increased its stake in Wabtec by 46%, holding a total of 380,793 shares worth approximately $69 million as of the latest filing.
• Wall Street analysts have mixed views on Wabtec, with target price estimates ranging from $200 to $236, and a consensus rating of "Moderate Buy".
• Wabtec declared a quarterly dividend of $0.25 per share, representing a 0.5% yield, with a payout ratio of 14.93%.

BNP Paribas Financial Markets raised its stake in Wabtec (NYSE:WAB - Free Report) by 46.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 380,793 shares of the transportation company's stock after purchasing an additional 120,057 shares during the period. BNP Paribas Financial Markets owned 0.22% of Wabtec worth $69,057,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Pacer Advisors Inc. grew its holdings in Wabtec by 2,220.1% in the first quarter. Pacer Advisors Inc. now owns 738,038 shares of the transportation company's stock worth $133,843,000 after purchasing an additional 706,227 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Wabtec by 3.0% during the first 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. New York State Common Retirement Fund grew its stake in shares of Wabtec by 16.0% during the first 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. Forsta AP Fonden grew its stake in shares of Wabtec by 40.4% during the first quarter. Forsta AP Fonden now owns 69,800 shares of the transportation company's stock worth $12,658,000 after acquiring an additional 20,100 shares during the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. grew its stake in shares of Wabtec by 3.2% during the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 66,188 shares of the transportation company's stock worth $12,004,000 after acquiring an additional 2,044 shares during the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WAB has been the topic of a number of research analyst reports. Bank of America boosted their price objective on shares of Wabtec from $231.00 to $236.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Morgan Stanley boosted their price objective on shares of Wabtec from $220.00 to $226.00 and gave the company an "overweight" rating in a report on Monday, July 28th. KeyCorp reiterated an "overweight" rating and issued a $240.00 target price (up previously from $220.00) on shares of Wabtec in a research report on Tuesday, June 24th. JPMorgan Chase & Co. dropped their target price on Wabtec from $216.00 to $200.00 and set a "neutral" rating on the stock in a research report on Thursday, August 14th. Finally, Wall Street Zen lowered Wabtec from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Wabtec presently has a consensus rating of "Moderate Buy" and a consensus price target of $222.57.

Insider Activity

In other news, EVP Gina Trombley sold 4,299 shares of the stock in a transaction dated 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 of the company's stock, valued at $2,766,592. This represents a 23.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Rafael Santana sold 886 shares of Wabtec stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $192.83, for a total transaction of $170,847.38. Following the completion of the sale, the chief executive officer directly owned 139,414 shares in the company, valued at $26,883,201.62. This represents a 0.63% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,957 shares of company stock worth $1,406,563. Corporate insiders own 1.10% of the company's stock.

Wabtec Stock Performance

Wabtec stock traded up $1.42 during mid-day trading on Thursday, hitting $192.67. The company had a trading volume of 714,012 shares, compared to its average volume of 1,069,112. The company has a current ratio of 1.76, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. Wabtec has a 12-month low of $151.81 and a 12-month high of $216.10. The company's fifty day moving average is $200.13 and its 200-day moving average is $192.32. The company has a market capitalization of $32.94 billion, a price-to-earnings ratio of 28.75, a P/E/G ratio of 1.54 and a beta of 1.11.

Wabtec (NYSE:WAB - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The transportation company reported $2.27 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 business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same quarter in the prior year, the firm posted $1.96 EPS. The business's quarterly revenue was up 2.3% compared to the same quarter last year. Wabtec has set its FY 2025 guidance at 8.550-9.150 EPS. Equities research analysts predict 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. Stockholders of record on Thursday, August 14th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Thursday, August 14th. Wabtec's dividend payout ratio is presently 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.