Wabtec $WAB Shares Purchased by Ritholtz Wealth Management

Key Points

• Ritholtz Wealth Management significantly increased its stake in Wabtec by 119.6% in the second quarter, now owning 5,705 shares valued at approximately $1.19 million.
• Wabtec reported an earnings per share (EPS) of $2.27 for the last quarter, exceeding analysts' estimates and showing a year-over-year revenue increase of 2.3%.
• The company declared a quarterly dividend of $0.25 per share, with an annualized dividend yield of 0.5%, to be paid on November 26th.

Ritholtz Wealth Management raised its stake in shares of Wabtec (NYSE:WAB - Free Report) by 119.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,705 shares of the transportation company's stock after buying an additional 3,107 shares during the period. Ritholtz Wealth Management's holdings in Wabtec were worth $1,194,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. ST Germain D J Co. Inc. increased its stake in Wabtec by 30.2% during 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 period. PFS Partners LLC grew its stake in shares of Wabtec by 70.4% in the 2nd quarter. PFS Partners LLC now owns 121 shares of the transportation company's stock worth $25,000 after purchasing an additional 50 shares during the last quarter. Trust Co. of Vermont grew its stake in shares of Wabtec by 44.2% in the 2nd quarter. Trust Co. of Vermont now owns 163 shares of the transportation company's stock worth $34,000 after purchasing an additional 50 shares during the last quarter. UMB Bank n.a. grew its stake 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 worth $75,000 after purchasing an additional 65 shares during the last quarter. Finally, Harbour Investments Inc. grew its stake in shares of Wabtec by 30.9% in the 2nd quarter. Harbour Investments Inc. now owns 309 shares of the transportation company's stock worth $65,000 after purchasing an additional 73 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company's stock.

Wabtec Stock Performance

Shares of WAB opened at $194.34 on Friday. Wabtec has a one year low of $151.81 and a one year high of $216.10. The company has a 50-day moving average of $193.60 and a two-hundred day moving average of $194.74. The stock has a market cap of $33.22 billion, a price-to-earnings ratio of 29.01, a PEG ratio of 1.50 and a beta of 1.10. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.76 and a quick ratio of 1.05.

Wabtec (NYSE:WAB - Get Free Report) last announced its earnings results 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 net margin of 10.92% and a return on equity of 13.65%. The company had revenue of $2.71 billion during the quarter, compared to analysts' expectations of $2.76 billion. During the same period last year, the company posted $1.96 earnings per share. The business's revenue for the quarter was up 2.3% on a year-over-year basis. Wabtec has set its FY 2025 guidance at 8.550-9.150 EPS. On average, equities research analysts expect that Wabtec will post 8.54 earnings per share for the current year.

Wabtec Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Wednesday, November 12th will be issued 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 is Wednesday, November 12th. Wabtec's dividend payout ratio (DPR) is currently 14.93%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WAB. Wall Street Zen cut shares of Wabtec from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. JPMorgan Chase & Co. lifted their price objective on shares of Wabtec from $200.00 to $215.00 and gave the stock a "neutral" rating in a research note on Tuesday. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Wabtec in a research note on Wednesday, October 8th. Citigroup began coverage on shares of Wabtec in a research note on Monday, September 22nd. They issued a "buy" rating and a $225.00 price objective on the stock. Finally, Bank of America lifted their price objective on shares of Wabtec from $231.00 to $236.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Seven research 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 stock presently has a consensus rating of "Moderate Buy" and an average target price of $224.75.

Insider Activity at Wabtec

In related news, CEO Rafael Santana sold 1,798 shares of the firm's stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $195.04, for a total transaction of $350,681.92. Following the completion of the sale, the chief executive officer directly owned 133,133 shares in the company, valued at approximately $25,966,260.32. This trade represents a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 6,281 shares of company stock worth $1,204,240 in the last ninety days. Company insiders own 1.10% of the company's stock.

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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