Wabtec $WAB Shares Purchased by Covea Finance

Key Points

• Covea Finance increased its stake in Wabtec by 2.8%, acquiring an additional 3,200 shares, bringing its total ownership to 115,948 shares valued at approximately $24.27 million.
• Wabtec reported strong earnings, with an EPS of $2.27, exceeding analysts' estimates, and set its FY 2025 guidance between $8.550 to $9.150 EPS.
• The company has a dividend yield of 0.5%, with a recent quarterly dividend of $0.25 per share paid to shareholders.

Covea Finance boosted its stake in shares of Wabtec (NYSE:WAB - Free Report) by 2.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 115,948 shares of the transportation company's stock after buying an additional 3,200 shares during the period. Covea Finance owned 0.07% of Wabtec worth $24,274,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Putney Financial Group LLC purchased a new stake in Wabtec in the fourth quarter valued at $52,000. UMB Bank n.a. raised its position in Wabtec by 22.2% in the second quarter. UMB Bank n.a. now owns 358 shares of the transportation company's stock valued at $75,000 after purchasing an additional 65 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in Wabtec by 9.8% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 630 shares of the transportation company's stock valued at $114,000 after purchasing an additional 56 shares during the period. GF Fund Management CO. LTD. purchased a new stake in Wabtec in the fourth quarter valued at $205,000. Finally, Goelzer Investment Management Inc. purchased a new stake in Wabtec in the second quarter valued at $209,000. Institutional investors and hedge funds own 91.69% of the company's stock.

Wabtec Stock Up 4.9%

Shares of NYSE WAB opened at $197.97 on Tuesday. The stock has a market cap of $33.84 billion, a PE ratio of 29.55, a price-to-earnings-growth ratio of 1.50 and a beta of 1.11. 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 price of $194.63 and a 200 day moving average price of $193.05.

Wabtec (NYSE:WAB - Get Free Report) last announced its earnings results on Thursday, July 24th. The transportation company reported $2.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.18 by $0.09. The firm had revenue of $2.71 billion during the quarter, compared to analysts' expectations of $2.76 billion. Wabtec had a return on equity of 13.65% and a net margin of 10.92%.The business's revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.96 EPS. Wabtec has set its FY 2025 guidance at 8.550-9.150 EPS. Equities research analysts forecast that Wabtec will post 8.54 earnings per share for the current 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 paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $1.00 annualized dividend and a yield of 0.5%. Wabtec's dividend payout ratio is currently 14.93%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on WAB shares. JPMorgan Chase & Co. cut their price objective on Wabtec from $216.00 to $200.00 and set a "neutral" rating on the stock in a report on Thursday, August 14th. Susquehanna boosted their price objective on Wabtec from $210.00 to $235.00 and gave the company a "positive" rating in a report on Friday, July 25th. Morgan Stanley boosted their price objective on Wabtec from $220.00 to $226.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Citigroup started coverage on Wabtec in a report on Monday. They issued a "buy" rating and a $225.00 price objective on the stock. Finally, Wall Street Zen downgraded Wabtec from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Six investment 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.com, the company has a consensus rating of "Moderate Buy" and an average target price of $222.88.

Insider Buying and Selling

In other Wabtec news, CEO Rafael Santana sold 1,798 shares of the company's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $189.63, for a total transaction of $340,954.74. Following the completion of the sale, the chief executive officer directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 5,369 shares of company stock worth $1,042,586. 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.

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