Wabtec $WAB Shares Bought by Board of the Pension Protection Fund

Key Points

• The Board of the Pension Protection Fund significantly increased its holdings in Wabtec by 760.0%, owning a total of 8,600 shares valued at approximately $1,800,000 at the end of the second quarter.
• CEO Rafael Santana sold 1,798 shares at an average price of $189.63, leading to a 1.32% decrease in his ownership of Wabtec stock.
• Wabtec announced a quarterly dividend of $0.25 per share, representing an annual yield of 0.5% and a dividend payout ratio of 14.93%.

Board of the Pension Protection Fund grew its holdings in Wabtec (NYSE:WAB - Free Report) by 760.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,600 shares of the transportation company's stock after buying an additional 7,600 shares during the quarter. Wabtec accounts for approximately 1.9% of Board of the Pension Protection Fund's holdings, making the stock its 4th biggest holding. Board of the Pension Protection Fund's holdings in Wabtec were worth $1,800,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. ORG Partners LLC raised its stake 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 in the last quarter. Parallel Advisors LLC raised its stake in shares of Wabtec by 5.7% in the 2nd quarter. Parallel Advisors LLC now owns 2,147 shares of the transportation company's stock valued at $450,000 after buying an additional 115 shares in the last quarter. Kathmere Capital Management LLC acquired a new position in shares of Wabtec in the 2nd quarter valued at $263,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Wabtec by 11.7% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,649 shares of the transportation company's stock valued at $4,532,000 after buying an additional 2,268 shares in the last quarter. Finally, Covea Finance raised its stake in shares of Wabtec by 2.8% in the 2nd quarter. Covea Finance now owns 115,948 shares of the transportation company's stock valued at $24,274,000 after buying an additional 3,200 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company's stock.

Insider Buying and Selling

In other Wabtec news, CEO Rafael Santana sold 1,798 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $189.63, for a total transaction of $340,954.74. Following the sale, the chief executive officer owned 134,931 shares of the company's stock, valued at $25,586,965.53. This represents a 1.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 4,483 shares of company stock worth $853,558. 1.10% of the stock is owned by corporate insiders.

Wabtec Stock Down 2.4%

Shares of NYSE:WAB opened at $190.92 on Friday. Wabtec has a 12 month low of $151.81 and a 12 month high of $216.10. The company's 50-day moving average price is $192.98 and its two-hundred day moving average price is $194.42. The company has a quick ratio of 1.05, a current ratio of 1.76 and a debt-to-equity ratio of 0.44. The firm has a market cap of $32.64 billion, a P/E ratio of 28.50, a P/E/G ratio of 1.48 and a beta of 1.10.

Wabtec (NYSE:WAB - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The transportation company reported $2.27 EPS for the quarter, topping analysts' consensus estimates of $2.18 by $0.09. Wabtec had a net margin of 10.92% and a return on equity of 13.65%. The firm 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 earned $1.96 EPS. 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. As a group, research analysts forecast that Wabtec will post 8.54 EPS for the current fiscal year.

Wabtec Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. Wabtec's dividend payout ratio is currently 14.93%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WAB. Weiss Ratings restated a "buy (b)" rating on shares of Wabtec in a research note on Wednesday. Morgan Stanley increased their target price on shares of Wabtec from $220.00 to $226.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Citigroup started coverage on shares of Wabtec in a research report on Monday, September 22nd. They set a "buy" rating and a $225.00 target price for the company. Wall Street Zen cut shares of Wabtec from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Bank of America increased their target price on shares of Wabtec from $231.00 to $236.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Wabtec currently has a consensus rating of "Moderate Buy" and an average target price of $222.88.

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.

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