Wabtec $WAB Shares Newly Acquired by Pensioenfonds Rail & OV

Pensioenfonds Rail & OV acquired a new position in Wabtec (NYSE:WAB) during the third quarter, according to its most recent 13F filing with the SEC. The firm acquired 11,708 shares of the transportation company’s stock, valued at approximately $3,362,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. IFG Advisory LLC grew its holdings in shares of Wabtec by 117.2% during the 3rd quarter. IFG Advisory LLC now owns 404 shares of the transportation company’s stock worth $116,000 after purchasing an additional 218 shares during the period. Phoenix Financial Ltd. increased its position in Wabtec by 14.7% during the 3rd quarter. Phoenix Financial Ltd. now owns 2,113 shares of the transportation company’s stock worth $607,000 after purchasing an additional 270 shares in the last quarter. McKinney Capital Management LLC raised its holdings in Wabtec by 4.4% in the third quarter. McKinney Capital Management LLC now owns 3,297 shares of the transportation company’s stock valued at $947,000 after buying an additional 138 shares during the period. Shah Wealth Advisors LLC acquired a new position in Wabtec during the third quarter valued at approximately $245,000. Finally, Cornerstone Advisors LLC lifted its position in Wabtec by 28.8% during the third quarter. Cornerstone Advisors LLC now owns 31,982 shares of the transportation company’s stock valued at $9,185,000 after buying an additional 7,149 shares in the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

Wabtec Stock Down 0.9%

Shares of NYSE:WAB traded down $2.83 during mid-day trading on Friday, hitting $297.68. 809,997 shares of the company traded hands, compared to its average volume of 1,098,791. The firm’s 50 day simple moving average is $286.21 and its 200 day simple moving average is $270.87. The firm has a market cap of $49.95 billion, a P/E ratio of 36.98, a PEG ratio of 1.68 and a beta of 0.93. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.56 and a current ratio of 1.10. Wabtec has a 52-week low of $194.93 and a 52-week high of $307.96.

Wabtec (NYSE:WAB) last released its quarterly earnings results on Wednesday, October 21st. The transportation company reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $3.20 billion. During the same quarter in the prior year, the business earned $2.32 EPS. Wabtec’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, equities analysts anticipate that Wabtec will post 10.97 EPS for the current year.

Wabtec Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have issued reports on WAB. KeyCorp boosted their price objective on shares of Wabtec from $308.00 to $340.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Morgan Stanley raised their target price 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. Wall Street Zen lowered shares of Wabtec from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Susquehanna lifted their target price on shares of Wabtec from $305.00 to $340.00 and gave the company a “positive” rating in a report on Thursday, July 23rd. Finally, Wells Fargo & Company upped their price target on shares of Wabtec from $284.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 23rd. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Wabtec has a consensus rating of “Moderate Buy” and a consensus price target of $328.90.

Insider Transactions at Wabtec

In related news, insider Michael Fetsko sold 3,250 shares of the firm’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $293.22, for a total transaction of $952,965.00. Following the completion of the sale, the insider directly owned 37,380 shares of the company’s stock, valued at approximately $10,960,563.60. This trade represents a 8.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gregory Sbrocco sold 952 shares of Wabtec stock in a transaction on Monday, August 17th. The stock was sold at an average price of $300.00, for a total transaction of $285,600.00. Following the sale, the executive vice president directly owned 21,043 shares in the company, valued at $6,312,900. This trade represents a 4.33% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 5,289 shares of company stock valued at $1,555,741. Corporate insiders own 0.57% of the company’s stock.

Wabtec Company Profile

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.