Wabtec $WAB Shares Sold by Baader Bank Aktiengesellschaft

Key Points

• Baader Bank Aktiengesellschaft reduced its holdings in Wabtec by 62.9% in Q2, resulting in ownership of 2,376 shares valued at approximately $478,000.
• Wabtec reported $2.27 EPS for the last quarter, exceeding analysts' consensus estimates of $2.18, while revenue increased by 2.3% year-over-year.
• The company announced a quarterly dividend of $0.25, reflecting an annual yield of 0.5% and a dividend payout ratio of 14.93%.

Baader Bank Aktiengesellschaft cut its holdings in Wabtec (NYSE:WAB - Free Report) by 62.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,376 shares of the transportation company's stock after selling 4,034 shares during the period. Baader Bank Aktiengesellschaft's holdings in Wabtec were worth $478,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Putney Financial Group LLC purchased a new stake in shares of Wabtec during the 4th quarter valued at $52,000. MassMutual Private Wealth & Trust FSB grew its stake 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 buying an additional 56 shares during the period. GF Fund Management CO. LTD. purchased a new stake in shares of Wabtec during the 4th quarter valued at $205,000. Goelzer Investment Management Inc. purchased a new stake in shares of Wabtec during the 2nd quarter valued at $209,000. Finally, Kera Capital Partners Inc. grew its stake in shares of Wabtec by 35.5% during the 2nd quarter. Kera Capital Partners Inc. now owns 1,671 shares of the transportation company's stock valued at $350,000 after buying an additional 438 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WAB. Citigroup began coverage on shares of Wabtec in a research report on Monday. They set a "buy" rating and a $225.00 price target for the company. Susquehanna upped their price target on shares of Wabtec from $210.00 to $235.00 and gave the stock a "positive" rating in a research report on Friday, July 25th. JPMorgan Chase & Co. decreased their price target on shares of Wabtec from $216.00 to $200.00 and set a "neutral" rating for the company in a research report on Thursday, August 14th. Bank of America upped their price target 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. Finally, KeyCorp reiterated an "overweight" rating and issued a $240.00 price objective (up previously from $220.00) on shares of Wabtec in a report on Tuesday, June 24th. Six equities 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, the company currently has an average rating of "Moderate Buy" and an average price target of $222.88.

Insider Activity

In other news, CEO Rafael Santana sold 1,798 shares of the company's 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 sale, the chief executive officer owned 134,931 shares in the company, valued at approximately $25,586,965.53. This represents a 1.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have sold 5,369 shares of company stock valued at $1,042,586. Corporate insiders own 1.10% of the company's stock.

Wabtec Stock Up 4.9%

Shares of Wabtec stock traded up $9.27 during trading on Monday, reaching $197.97. The company had a trading volume of 2,312,320 shares, compared to its average volume of 990,996. The company has a market cap of $33.84 billion, a price-to-earnings ratio of 29.55, a price-to-earnings-growth ratio of 1.50 and a beta of 1.11. The firm's fifty day moving average is $194.63 and its 200-day moving average is $193.05. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.76. Wabtec has a fifty-two week low of $151.81 and a fifty-two week high of $216.10.

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

Wabtec Announces Dividend

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

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.