Board of the Pension Protection Fund Has $441,000 Stock Position in Wabtec $WAB

Board of the Pension Protection Fund lessened its holdings in Wabtec (NYSE:WAB) by 74.4% in the third quarter, HoldingsChannel reports. The fund owned 2,200 shares of the transportation company’s stock after selling 6,400 shares during the period. Board of the Pension Protection Fund’s holdings in Wabtec were worth $441,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Jump Financial LLC boosted its holdings in Wabtec by 30.3% in the 1st quarter. Jump Financial LLC now owns 33,100 shares of the transportation company’s stock valued at $6,003,000 after purchasing an additional 7,703 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Wabtec by 46.0% in the first quarter. BNP Paribas Financial Markets now owns 380,793 shares of the transportation company’s stock valued at $69,057,000 after buying an additional 120,057 shares during the period. Plato Investment Management Ltd grew its position in Wabtec by 4.9% during the first quarter. Plato Investment Management Ltd now owns 12,082 shares of the transportation company’s stock worth $2,215,000 after buying an additional 560 shares in the last quarter. Voya Investment Management LLC increased its stake in Wabtec by 5.5% during the 1st quarter. Voya Investment Management LLC now owns 104,860 shares of the transportation company’s stock worth $19,016,000 after acquiring an additional 5,423 shares during the period. Finally, Kera Capital Partners Inc. increased its stake in Wabtec by 35.5% during the 2nd quarter. Kera Capital Partners Inc. now owns 1,671 shares of the transportation company’s stock worth $350,000 after acquiring an additional 438 shares during the period. 91.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on WAB shares. Citigroup upped their target price on Wabtec from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, November 14th. Susquehanna upped their price objective on shares of Wabtec from $235.00 to $240.00 and gave the stock a “positive” rating in a research report on Thursday, October 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of Wabtec in a report on Wednesday, October 8th. Wells Fargo & Company boosted their target price on shares of Wabtec from $221.00 to $224.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Bank of America upped their price target on shares of Wabtec from $228.00 to $233.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Wabtec currently has an average rating of “Moderate Buy” and a consensus price target of $227.11.

Wabtec Price Performance

Shares of NYSE:WAB opened at $216.03 on Friday. Wabtec has a one year low of $151.81 and a one year high of $220.89. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.75. The company has a market cap of $36.93 billion, a price-to-earnings ratio of 31.40, a PEG ratio of 1.65 and a beta of 0.99. The firm has a 50 day simple moving average of $204.95 and a 200 day simple moving average of $200.99.

Wabtec (NYSE:WAB) last announced its quarterly earnings results on Wednesday, October 22nd. The transportation company reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.04. Wabtec had a net margin of 10.94% and a return on equity of 13.84%. The company had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the prior year, the business earned $2.00 earnings per share. The company’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. Research analysts predict that Wabtec will post 8.54 earnings per share for the current fiscal year.

Wabtec Dividend Announcement

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

Insider Buying and Selling

In related news, CAO John A. Mastalerz, Jr. sold 2,766 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $210.00, for a total value of $580,860.00. Following the completion of the transaction, the chief accounting officer owned 5,286 shares in the company, valued at $1,110,060. This trade represents a 34.35% 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 35,714 shares of company stock valued at $7,441,102 over the last three months. Insiders own 1.10% of the company’s stock.

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.