Wabtec $WAB Stock Bought by Kinsale Capital Group Inc.

Kinsale Capital Group Inc. boosted its holdings in shares of Wabtec (NYSE:WAB) by 15.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 66,283 shares of the transportation company’s stock after acquiring an additional 9,005 shares during the quarter. Wabtec comprises 2.6% of Kinsale Capital Group Inc.’s holdings, making the stock its 8th largest holding. Kinsale Capital Group Inc.’s holdings in Wabtec were worth $19,035,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WAB. Welch & Forbes LLC grew its holdings in shares of Wabtec by 1.8% during the 2nd quarter. Welch & Forbes LLC now owns 2,050 shares of the transportation company’s stock worth $553,000 after purchasing an additional 36 shares during the period. Quadrant Capital Group LLC raised its holdings in Wabtec by 0.8% in the 3rd quarter. Quadrant Capital Group LLC now owns 4,317 shares of the transportation company’s stock valued at $1,237,000 after buying an additional 36 shares during the period. Parkside Financial Bank & Trust raised its holdings in Wabtec by 4.5% in the 2nd quarter. Parkside Financial Bank & Trust now owns 851 shares of the transportation company’s stock valued at $229,000 after buying an additional 37 shares during the period. Meeder Advisory Services Inc. lifted its position in Wabtec by 1.6% in the first quarter. Meeder Advisory Services Inc. now owns 2,471 shares of the transportation company’s stock valued at $618,000 after buying an additional 38 shares during the last quarter. Finally, Legacy Financial Advisors Inc. lifted its position in Wabtec by 3.4% in the second quarter. Legacy Financial Advisors Inc. now owns 1,141 shares of the transportation company’s stock valued at $308,000 after buying an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Wabtec Trading Up 5.2%

Shares of NYSE WAB opened at $298.38 on Tuesday. The company has a current ratio of 1.10, a quick ratio of 0.56 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $50.07 billion, a PE ratio of 37.07, a PEG ratio of 1.65 and a beta of 0.93. Wabtec has a twelve month low of $194.93 and a twelve month high of $306.64. The stock has a fifty day simple moving average of $284.61 and a 200-day simple moving average of $269.47.

Wabtec (NYSE:WAB) last posted its earnings results on Wednesday, October 21st. The transportation company reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.73 by $0.10. Wabtec had a return on equity of 15.72% and a net margin of 11.20%. The firm had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.20 billion. During the same quarter in the prior year, the company earned $2.32 EPS. Wabtec’s revenue was up 8.1% on a year-over-year basis. On average, equities analysts forecast that Wabtec will post 10.97 earnings per share for the current year.

Wabtec Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 17th will be paid a dividend of $0.31 per share. The ex-dividend date is Tuesday, November 17th. This represents a $1.24 dividend on an annualized basis and a yield of 0.4%. Wabtec’s dividend payout ratio is 15.40%.

Insiders Place Their Bets

In other news, insider Michael Fetsko sold 3,250 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $293.22, for a total transaction of $952,965.00. Following the sale, the insider owned 37,380 shares of the company’s stock, valued at approximately $10,960,563.60. This represents a 8.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gregory Sbrocco sold 952 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $300.00, for a total transaction of $285,600.00. Following the completion of the transaction, the executive vice president directly owned 21,043 shares of the company’s stock, valued at approximately $6,312,900. The trade was a 4.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 5,289 shares of company stock worth $1,555,741 over the last three months. Company insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Wall Street Zen lowered shares of Wabtec from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Susquehanna lifted their price target on shares of Wabtec from $305.00 to $340.00 and gave the company a “positive” rating in a research report on Thursday, July 23rd. Morgan Stanley boosted their price target on shares of Wabtec from $318.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. KeyCorp upped their price objective on shares of Wabtec from $308.00 to $340.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Finally, Stephens upped their price objective on shares of Wabtec from $330.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Wabtec currently has an average rating of “Moderate Buy” and an average price target of $320.18.

About Wabtec

Wabtec Corporation (NYSE: WAB), also known as Westinghouse Air Brake Technologies, supplies equipment, systems and services for the freight rail and passenger transit industries. Its products include locomotives, braking and train control systems, propulsion equipment, and components designed to support rail safety and performance.

The company also provides aftermarket services, including maintenance, modernization, parts and digital solutions for rail operators. Its offerings serve freight railroads, transit agencies and other customers in the global rail industry.

Wabtec was formed in 1999 through the merger of Westinghouse Air Brake Company and MotivePower Industries, bringing together businesses with roots in rail equipment dating to the 19th century.