IFM Investors Pty Ltd Has $8.44 Million Stake in Wabtec $WAB

Key Points

• IFM Investors Pty Ltd has increased its holdings in Wabtec by 7.5%, owning 40,294 shares valued at $8.436 million as of the last reporting period.
• Several investment firms have made recent adjustments to their price targets for Wabtec, with Morgan Stanley raising it to $226 and JPMorgan Chase lowering it to $200.
• Wabtec's stock price opened at $188.65, and the company recently announced a quarterly dividend of $0.25, with a yield of 0.5%.

IFM Investors Pty Ltd grew its stake in shares of Wabtec (NYSE:WAB - Free Report) by 7.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 40,294 shares of the transportation company's stock after acquiring an additional 2,810 shares during the period. IFM Investors Pty Ltd's holdings in Wabtec were worth $8,436,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB lifted its position in shares of Wabtec by 9.8% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 630 shares of the transportation company's stock valued at $114,000 after acquiring an additional 56 shares during the last quarter. Wedmont Private Capital lifted its position in shares of Wabtec by 4.4% during the 2nd quarter. Wedmont Private Capital now owns 2,190 shares of the transportation company's stock valued at $467,000 after acquiring an additional 92 shares during the last quarter. Greenleaf Trust lifted its position in shares of Wabtec by 2.8% during the 1st quarter. Greenleaf Trust now owns 3,437 shares of the transportation company's stock valued at $623,000 after acquiring an additional 93 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of Wabtec by 5.7% during the 2nd quarter. Parallel Advisors LLC now owns 2,147 shares of the transportation company's stock valued at $450,000 after acquiring an additional 115 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Wabtec by 1.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 16,077 shares of the transportation company's stock valued at $3,446,000 after acquiring an additional 203 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Citigroup assumed coverage on shares of Wabtec in a research note on Monday. They set a "buy" rating and a $225.00 target price on the stock. Susquehanna boosted 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. Morgan Stanley boosted 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, July 28th. JPMorgan Chase & Co. cut their target price on shares of Wabtec from $216.00 to $200.00 and set a "neutral" rating on the stock in a research note on Thursday, August 14th. Finally, KeyCorp reissued an "overweight" rating and set a $240.00 target price (up from $220.00) on shares of Wabtec in a research note on Tuesday, June 24th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $222.88.

Wabtec Stock Performance

WAB stock traded down $3.16 during mid-day trading on Tuesday, reaching $194.80. 464,991 shares of the stock traded hands, compared to its average volume of 1,080,312. 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 has a 52 week low of $151.81 and a 52 week high of $216.10. The business has a 50-day moving average of $194.63 and a two-hundred day moving average of $193.05. The firm has a market capitalization of $33.30 billion, a PE ratio of 29.10, a P/E/G ratio of 1.50 and a beta of 1.11.

Wabtec (NYSE:WAB - Get Free Report) last released 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 net margin of 10.92% and a return on equity of 13.65%. The business had revenue of $2.71 billion during the quarter, compared to analysts' expectations of $2.76 billion. During the same quarter last year, the company earned $1.96 earnings per share. The firm'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, equities analysts predict that Wabtec will post 8.54 EPS for the current fiscal year.

Wabtec Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Thursday, August 14th. Wabtec's dividend payout ratio (DPR) is presently 14.93%.

Insider Buying and Selling at Wabtec

In related 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 value 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 trade represents a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 5,369 shares of company stock valued at $1,042,586 in the last three months. 1.10% of the stock is currently owned by company insiders.

Wabtec Company 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.