MGO One Seven LLC Trims Stock Position in Wabtec $WAB

MGO One Seven LLC cut its holdings in Wabtec (NYSE:WAB) by 71.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,267 shares of the transportation company’s stock after selling 3,145 shares during the period. MGO One Seven LLC’s holdings in Wabtec were worth $254,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WAB. PFS Partners LLC raised its position in Wabtec by 70.4% in the second quarter. PFS Partners LLC now owns 121 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 50 shares during the period. Colonial Trust Advisors grew its holdings in shares of Wabtec by 454.5% during the 2nd quarter. Colonial Trust Advisors now owns 122 shares of the transportation company’s stock worth $26,000 after purchasing an additional 100 shares during the period. Motco increased its position in shares of Wabtec by 6,600.0% during the 3rd quarter. Motco now owns 134 shares of the transportation company’s stock worth $27,000 after purchasing an additional 132 shares during the last quarter. Salomon & Ludwin LLC raised its holdings in Wabtec by 370.6% in the 3rd quarter. Salomon & Ludwin LLC now owns 160 shares of the transportation company’s stock valued at $32,000 after buying an additional 126 shares during the period. Finally, Trust Co. of Vermont lifted its position 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 last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Insider Activity at Wabtec

In other Wabtec news, insider Rogerio Mendonca sold 2,019 shares of the company’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $214.51, for a total transaction of $433,095.69. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP David L. Deninno sold 5,000 shares of Wabtec stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $214.62, for a total value of $1,073,100.00. Following the completion of the transaction, the vice president owned 50,450 shares of the company’s stock, valued at $10,827,579. The trade was a 9.02% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 33,916 shares of company stock worth $7,090,420 over the last quarter. 1.10% of the stock is currently owned by insiders.

Wabtec Stock Performance

Shares of WAB stock opened at $227.57 on Wednesday. The firm has a 50 day moving average of $214.28 and a two-hundred day moving average of $203.44. The stock has a market capitalization of $38.91 billion, a PE ratio of 33.08, a P/E/G ratio of 1.56 and a beta of 1.00. The company has a quick ratio of 0.75, a current ratio of 1.42 and a debt-to-equity ratio of 0.45. Wabtec has a 52 week low of $151.81 and a 52 week high of $230.71.

Wabtec (NYSE:WAB) last posted its quarterly earnings data on Wednesday, October 22nd. The transportation company reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.28 by $0.04. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.88 billion. Wabtec had a return on equity of 13.84% and a net margin of 10.94%.The company’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.00 earnings per share. On average, research analysts predict that Wabtec will post 8.54 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on WAB. Wolfe Research raised shares of Wabtec from a “peer perform” rating to an “outperform” rating and set a $245.00 target price for the company in a research note on Thursday, January 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wabtec in a research report on Wednesday, October 8th. Citigroup lifted their target price on shares of Wabtec from $245.00 to $258.00 and gave the company a “buy” rating in a report on Friday, January 9th. Morgan Stanley upped their price target on Wabtec from $257.00 to $264.00 and gave the stock an “overweight” rating in a research note on Monday, January 12th. Finally, Bank of America lifted their price objective on Wabtec from $228.00 to $233.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $237.00.

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.