Strs Ohio Sells 9,868 Shares of Wabtec $WAB

Strs Ohio lessened its stake in shares of Wabtec (NYSE:WAB) by 4.9% during the third quarter, Holdings Channel.com reports. The fund owned 191,055 shares of the transportation company’s stock after selling 9,868 shares during the period. Strs Ohio’s holdings in Wabtec were worth $38,301,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. PFS Partners LLC lifted its position in shares of Wabtec by 70.4% during the 2nd quarter. PFS Partners LLC now owns 121 shares of the transportation company’s stock valued at $25,000 after acquiring an additional 50 shares during the period. Colonial Trust Advisors raised its stake in Wabtec by 454.5% in the second quarter. Colonial Trust Advisors now owns 122 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 100 shares in the last quarter. Piscataqua Savings Bank raised its stake in Wabtec by 12,800.0% in the third quarter. Piscataqua Savings Bank now owns 129 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 128 shares in the last quarter. Motco lifted its position in Wabtec by 6,600.0% during the third quarter. Motco now owns 134 shares of the transportation company’s stock worth $27,000 after purchasing an additional 132 shares during the period. Finally, Salomon & Ludwin LLC grew its stake in Wabtec by 370.6% during the third quarter. Salomon & Ludwin LLC now owns 160 shares of the transportation company’s stock worth $32,000 after buying an additional 126 shares in the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WAB has been the subject of several analyst reports. Susquehanna boosted their target price on shares of Wabtec from $235.00 to $240.00 and gave the company a “positive” rating in a research report on Thursday, October 23rd. Citigroup upped their target price on Wabtec from $245.00 to $258.00 and gave the stock a “buy” rating in a research note on Friday, January 9th. JPMorgan Chase & Co. raised their target price on Wabtec from $215.00 to $245.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Morgan Stanley boosted their price target on Wabtec from $257.00 to $264.00 and gave the stock an “overweight” rating in a report on Monday, January 12th. Finally, Bank of America raised 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 issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $237.00.

Insider Buying and Selling

In related news, EVP Gregory Sbrocco sold 2,424 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $203.77, for a total value of $493,938.48. Following the completion of the transaction, the executive vice president owned 15,405 shares in the company, valued at $3,139,076.85. This trade represents a 13.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Pascal Schweitzer sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $208.07, for a total transaction of $624,210.00. Following the sale, the insider directly owned 4,955 shares in the company, valued at $1,030,986.85. The trade was a 37.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 30,963 shares of company stock valued at $6,513,315 over the last three months. Insiders own 1.10% of the company’s stock.

Wabtec Stock Down 1.6%

Shares of WAB opened at $230.04 on Friday. The stock has a market capitalization of $39.33 billion, a price-to-earnings ratio of 33.44, a PEG ratio of 1.59 and a beta of 1.00. Wabtec has a 52 week low of $151.81 and a 52 week high of $236.00. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.75 and a current ratio of 1.42. The stock has a fifty day moving average of $215.86 and a 200-day moving average of $203.98.

Wabtec (NYSE:WAB) last posted its earnings results 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 firm had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same period last year, the company earned $2.00 earnings per share. The business’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Wabtec will post 8.54 earnings per share for the current fiscal year.

Wabtec 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.