QRG Capital Management Inc. Sells 102,124 Shares of Wabtec $WAB

QRG Capital Management Inc. decreased its holdings in shares of Wabtec (NYSE:WAB) by 53.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 89,597 shares of the transportation company’s stock after selling 102,124 shares during the quarter. QRG Capital Management Inc. owned about 0.05% of Wabtec worth $17,962,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in WAB. Vanguard Group Inc. grew its position in Wabtec by 2.5% in the second quarter. Vanguard Group Inc. now owns 19,930,893 shares of the transportation company’s stock worth $4,172,532,000 after acquiring an additional 493,437 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Wabtec by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 4,288,014 shares of the transportation company’s stock valued at $893,830,000 after purchasing an additional 30,489 shares during the last quarter. Boston Partners raised its holdings in Wabtec by 9.0% during the 2nd quarter. Boston Partners now owns 2,261,456 shares of the transportation company’s stock valued at $471,410,000 after buying an additional 186,248 shares during the period. Nordea Investment Management AB raised its holdings in Wabtec by 24.0% during the 3rd quarter. Nordea Investment Management AB now owns 1,974,257 shares of the transportation company’s stock valued at $393,252,000 after buying an additional 381,728 shares during the period. Finally, Norges Bank bought a new stake in Wabtec in the second quarter worth $347,194,000. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on WAB. Bank of America increased their target price on shares of Wabtec from $228.00 to $233.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Susquehanna raised their price objective on shares of Wabtec from $235.00 to $240.00 and gave the stock a “positive” rating in a research note on Thursday, October 23rd. Wolfe Research upgraded Wabtec from a “peer perform” rating to an “outperform” rating and set a $245.00 price target on the stock in a report on Thursday, January 8th. JPMorgan Chase & Co. lifted their target price on Wabtec from $215.00 to $245.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Wabtec in a research note on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $237.00.

Insiders Place Their Bets

In related news, insider Rogerio Mendonca sold 2,019 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $214.51, for a total transaction of $433,095.69. Following the completion of the transaction, the insider owned 9,516 shares in the company, valued at $2,041,277.16. This represents a 17.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP David L. Deninno sold 5,000 shares of Wabtec stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $214.62, for a total value of $1,073,100.00. Following the completion of the sale, the vice president owned 50,450 shares in the company, valued at approximately $10,827,579. The trade was a 9.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 33,916 shares of company stock valued at $7,090,420. 1.10% of the stock is owned by company insiders.

Wabtec Price Performance

Shares of Wabtec stock opened at $230.00 on Friday. The firm has a market cap of $39.32 billion, a PE ratio of 33.43, a P/E/G ratio of 1.55 and a beta of 1.00. Wabtec has a twelve month low of $151.81 and a twelve month high of $230.71. 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 business has a 50-day moving average price of $213.49 and a 200 day moving average price of $203.34.

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

About Wabtec

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.