Amundi Acquires 434,401 Shares of Wabtec $WAB

Amundi lifted its stake in Wabtec (NYSE:WAB) by 36.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,614,789 shares of the transportation company’s stock after purchasing an additional 434,401 shares during the period. Amundi’s holdings in Wabtec were worth $345,371,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of WAB. Norges Bank bought a new stake in Wabtec during the second quarter valued at about $347,194,000. Aviva PLC lifted its position in shares of Wabtec by 7,960.0% during the 2nd quarter. Aviva PLC now owns 527,685 shares of the transportation company’s stock valued at $110,471,000 after buying an additional 521,138 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Wabtec by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 19,930,893 shares of the transportation company’s stock valued at $4,172,532,000 after acquiring an additional 493,437 shares during the period. Nordea Investment Management AB increased its holdings in Wabtec by 33.4% in the 2nd quarter. Nordea Investment Management AB now owns 1,592,529 shares of the transportation company’s stock worth $333,062,000 after acquiring an additional 398,782 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in Wabtec by 56.3% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 778,156 shares of the transportation company’s stock worth $162,907,000 after acquiring an additional 280,140 shares in the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WAB has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Wabtec from $200.00 to $215.00 and gave the company a “neutral” rating in a report on Tuesday, October 14th. Wall Street Zen cut shares of Wabtec from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of Wabtec in a research note on Wednesday, October 8th. Wells Fargo & Company initiated coverage on Wabtec in a report on Thursday, November 13th. They set an “equal weight” rating and a $221.00 price target on the stock. Finally, Susquehanna upped their price objective on Wabtec from $235.00 to $240.00 and gave the stock a “positive” rating in a research note on Thursday, October 23rd. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $226.78.

Insider Activity at Wabtec

In other 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 sale, the insider directly owned 9,516 shares in the company, valued at approximately $2,041,277.16. This represents a 17.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO John A. Mastalerz, Jr. sold 2,766 shares of the stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $210.00, for a total transaction of $580,860.00. Following the completion of the transaction, the chief accounting officer directly owned 5,286 shares of the company’s stock, valued at approximately $1,110,060. The trade was a 34.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 32,455 shares of company stock valued at $6,651,219 over the last quarter. 1.10% of the stock is currently owned by insiders.

Wabtec Trading Up 0.3%

Shares of WAB stock opened at $214.71 on Friday. The company has a current ratio of 1.42, a quick ratio of 0.75 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $36.71 billion, a price-to-earnings ratio of 31.21, a price-to-earnings-growth ratio of 1.65 and a beta of 0.99. Wabtec has a 12-month low of $151.81 and a 12-month high of $216.10. The stock’s 50-day moving average price is $201.73 and its 200-day moving average price is $200.11.

Wabtec (NYSE:WAB) last released its quarterly earnings results on Wednesday, October 22nd. The transportation company reported $2.32 earnings per share 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 business had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter last year, the business posted $2.00 EPS. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. Equities research analysts predict that Wabtec will post 8.54 EPS for the current fiscal year.

Wabtec Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Wednesday, November 12th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date was Wednesday, November 12th. Wabtec’s payout ratio is currently 14.53%.

Wabtec Company Profile

Westinghouse Air Brake Technologies Corporation, together with its subsidiaries, provides technology-based locomotives, equipment, systems, and services for the freight rail and passenger transit industries worldwide. It offers diesel-electric, battery, and liquid natural gas-powered locomotives; engines, electric motors, and propulsion systems; and marine and mining products.