Wabtec $WAB Shares Sold by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC decreased its holdings in Wabtec (NYSE:WAB) by 2.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 4,031 shares of the transportation company’s stock after selling 118 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Wabtec were worth $844,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of WAB. ST Germain D J Co. Inc. lifted its holdings in Wabtec by 30.2% in the 2nd quarter. ST Germain D J Co. Inc. now owns 207 shares of the transportation company’s stock worth $43,000 after buying an additional 48 shares in the last quarter. PFS Partners LLC increased its position in shares of Wabtec by 70.4% during the second quarter. PFS Partners LLC now owns 121 shares of the transportation company’s stock worth $25,000 after acquiring an additional 50 shares during the last quarter. Trust Co. of Vermont increased its position in shares of Wabtec by 44.2% during the second quarter. Trust Co. of Vermont now owns 163 shares of the transportation company’s stock worth $34,000 after acquiring an additional 50 shares during the last quarter. UMB Bank n.a. grew its stake in Wabtec by 22.2% during the 2nd 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 in the last quarter. Finally, CX Institutional grew its stake in Wabtec by 6.3% during the 2nd quarter. CX Institutional now owns 1,478 shares of the transportation company’s stock valued at $309,000 after purchasing an additional 87 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on WAB shares. Wall Street Zen cut Wabtec from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wabtec in a report on Wednesday. KeyCorp reaffirmed an “overweight” rating and issued a $240.00 price target (up from $220.00) on shares of Wabtec in a report on Tuesday, June 24th. JPMorgan Chase & Co. dropped their target price 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. Finally, Bank of America boosted 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 analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $222.88.

Insider Activity

In other news, CEO Rafael Santana sold 1,799 shares of the business’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $189.97, for a total transaction of $341,756.03. Following the completion of the transaction, the chief executive officer owned 136,729 shares of the company’s stock, valued at approximately $25,974,408.13. The trade was a 1.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 4,483 shares of company stock worth $853,558 over the last three months. Insiders own 1.10% of the company’s stock.

Wabtec Stock Performance

Shares of NYSE WAB opened at $195.41 on Friday. 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’s 50-day moving average price is $192.89 and its two-hundred day moving average price is $194.36. Wabtec has a 52-week low of $151.81 and a 52-week high of $216.10. The stock has a market capitalization of $33.41 billion, a P/E ratio of 29.17, a P/E/G ratio of 1.55 and a beta of 1.10.

Wabtec (NYSE:WAB) last issued its earnings results on Thursday, July 24th. The transportation company reported $2.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.18 by $0.09. The firm had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.76 billion. Wabtec had a net margin of 10.92% and a return on equity of 13.65%. Wabtec’s revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the company posted $1.96 earnings per share. Wabtec has set its FY 2025 guidance at 8.550-9.150 EPS. As a group, sell-side 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. Investors of record on Thursday, August 14th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Thursday, August 14th. Wabtec’s dividend payout ratio is presently 14.93%.

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.