New York State Teachers Retirement System Lowers Holdings in Wabtec $WAB

New York State Teachers Retirement System reduced its stake in Wabtec (NYSE:WAB) by 3.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 127,745 shares of the transportation company’s stock after selling 4,245 shares during the period. New York State Teachers Retirement System owned approximately 0.07% of Wabtec worth $25,609,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. ST Germain D J Co. Inc. grew its position 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 purchasing an additional 48 shares during the last quarter. PFS Partners LLC lifted its stake in shares of Wabtec by 70.4% in 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 in the last quarter. Trust Co. of Vermont grew its holdings 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 valued at $34,000 after buying an additional 50 shares during the last quarter. Parkside Financial Bank & Trust increased its position in shares of Wabtec by 7.3% during the second quarter. Parkside Financial Bank & Trust now owns 797 shares of the transportation company’s stock valued at $167,000 after acquiring an additional 54 shares in the last quarter. Finally, CVA Family Office LLC raised its holdings in Wabtec by 7.9% in the 2nd quarter. CVA Family Office LLC now owns 748 shares of the transportation company’s stock worth $157,000 after acquiring an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Wabtec Price Performance

NYSE WAB opened at $226.36 on Tuesday. The company has a 50-day moving average price of $211.65 and a 200-day moving average price of $202.72. Wabtec has a 52 week low of $151.81 and a 52 week high of $226.52. 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 $38.70 billion, a P/E ratio of 32.90, a PEG ratio of 1.54 and a beta of 1.00.

Wabtec (NYSE:WAB) last posted its quarterly earnings data on Wednesday, October 22nd. The transportation company reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $0.04. Wabtec had a net margin of 10.94% and a return on equity of 13.84%. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter last year, the firm posted $2.00 earnings per share. The firm’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. Equities research analysts anticipate that Wabtec will post 8.54 earnings per share for the current year.

Wabtec Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Wednesday, November 12th. Wabtec’s dividend payout ratio is 14.53%.

Insider Buying and Selling

In related news, EVP Gregory Sbrocco sold 2,953 shares of the firm’s stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $195.43, for a total value of $577,104.79. Following the transaction, the executive vice president directly owned 17,829 shares of the company’s stock, valued at approximately $3,484,321.47. This trade represents a 14.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Fetsko sold 5,058 shares of the business’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $215.72, for a total value of $1,091,111.76. Following the sale, the insider directly owned 36,882 shares of the company’s stock, valued at $7,956,185.04. This represents a 12.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 33,916 shares of company stock worth $7,090,420 in the last quarter. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. JPMorgan Chase & Co. increased their target price on Wabtec from $200.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wabtec in a report on Wednesday, October 8th. Wells Fargo & Company lifted their price objective on Wabtec from $221.00 to $224.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 17th. Citigroup upped their target price on shares of Wabtec from $245.00 to $258.00 and gave the company a “buy” rating in a research note on Friday. Finally, Wolfe Research upgraded shares of Wabtec from a “peer perform” rating to an “outperform” rating and set a $245.00 price target for the company in a research note on Thursday. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Wabtec presently has an average rating of “Moderate Buy” and a consensus target price of $234.00.

Wabtec Company Profile

Wabtec Corporation (Westinghouse Air Brake Technologies Corporation) is a global provider of equipment, systems and services for the rail industry. The company supplies products and solutions to freight railroads, transit agencies and other industrial operators, focusing on technologies that improve the performance, safety and efficiency of locomotives and rail networks. Wabtec’s business spans new equipment manufacturing, aftermarket parts and services, and digital and control systems for rail operations.

Product and service offerings include locomotive systems and components, braking and air systems, propulsion and traction equipment, signaling and control technologies, and a range of aftermarket services such as maintenance, remanufacturing, parts distribution and fleet modernization.