Pinnbrook Capital Management LP Buys 20,759 Shares of Wabtec $WAB

Pinnbrook Capital Management LP raised its position in shares of Wabtec (NYSE:WAB) by 82.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 45,822 shares of the transportation company’s stock after purchasing an additional 20,759 shares during the quarter. Wabtec makes up approximately 1.1% of Pinnbrook Capital Management LP’s investment portfolio, making the stock its 27th largest holding. Pinnbrook Capital Management LP’s holdings in Wabtec were worth $9,593,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WAB. 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 buying an additional 50 shares during the period. Trust Co. of Vermont lifted its holdings in Wabtec by 44.2% in the second quarter. Trust Co. of Vermont now owns 163 shares of the transportation company’s stock valued at $34,000 after buying an additional 50 shares during the period. ST Germain D J Co. Inc. boosted its position in Wabtec by 30.2% during the second quarter. ST Germain D J Co. Inc. now owns 207 shares of the transportation company’s stock valued at $43,000 after acquiring an additional 48 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in Wabtec during the 2nd quarter worth about $44,000. Finally, NewSquare Capital LLC raised its position in shares of Wabtec by 125.3% in the 2nd quarter. NewSquare Capital LLC now owns 223 shares of the transportation company’s stock worth $47,000 after acquiring an additional 124 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on WAB shares. Morgan Stanley upped their target price on Wabtec from $220.00 to $226.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Wells Fargo & Company initiated coverage on shares of Wabtec in a research report on Thursday. They set an “equal weight” rating and a $221.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on shares of Wabtec from $200.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Wall Street Zen lowered shares of Wabtec from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Bank of America raised their price target on shares of Wabtec from $228.00 to $233.00 and gave the stock a “buy” rating in a report on Thursday. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Wabtec presently has a consensus rating of “Moderate Buy” and a consensus target price of $226.78.

Insider Buying and Selling

In related news, VP David L. Deninno sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $209.94, for a total value of $1,049,700.00. Following the transaction, the vice president owned 55,450 shares of the company’s stock, valued at approximately $11,641,173. This trade represents a 8.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO John A. Mastalerz, Jr. sold 2,766 shares of Wabtec stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $210.00, for a total value of $580,860.00. Following the transaction, the chief accounting officer owned 5,286 shares of the company’s stock, valued at $1,110,060. This trade represents a 34.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 26,322 shares of company stock worth $5,315,871 over the last ninety days. Insiders own 1.10% of the company’s stock.

Wabtec Price Performance

Shares of NYSE:WAB opened at $203.60 on Friday. Wabtec has a twelve month low of $151.81 and a twelve month high of $216.10. The stock’s 50 day moving average is $197.45 and its 200-day moving average is $199.04. The company has a quick ratio of 0.75, a current ratio of 1.42 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $34.81 billion, a price-to-earnings ratio of 29.59, a PEG ratio of 1.55 and a beta of 1.09.

Wabtec (NYSE:WAB) last posted its quarterly earnings results on Wednesday, October 22nd. The transportation company reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.04. Wabtec had a net margin of 10.94% and a return on equity of 13.84%. The business had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter last year, the firm posted $2.00 EPS. Wabtec’s revenue was up 8.4% compared to the same quarter last year. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. Sell-side analysts forecast that Wabtec will post 8.54 EPS for the current fiscal year.

Wabtec Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Wabtec’s payout ratio is presently 14.53%.

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.