Covea Finance Has $20.30 Million Stock Holdings in Wabtec $WAB

Covea Finance decreased its position in Wabtec (NYSE:WAB) by 12.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 101,246 shares of the transportation company’s stock after selling 14,702 shares during the quarter. Covea Finance owned 0.06% of Wabtec worth $20,297,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. PFS Partners LLC grew its stake in Wabtec by 70.4% during the second quarter. PFS Partners LLC now owns 121 shares of the transportation company’s stock worth $25,000 after buying an additional 50 shares during the last quarter. Colonial Trust Advisors boosted its holdings in shares of Wabtec by 454.5% in the 2nd quarter. Colonial Trust Advisors now owns 122 shares of the transportation company’s stock worth $26,000 after acquiring an additional 100 shares in the last quarter. Trust Co. of Vermont boosted its holdings in shares of Wabtec by 44.2% in the 2nd quarter. Trust Co. of Vermont now owns 163 shares of the transportation company’s stock worth $34,000 after acquiring an additional 50 shares in the last quarter. North Capital Inc. grew its position in Wabtec by 18,900.0% during the 3rd quarter. North Capital Inc. now owns 190 shares of the transportation company’s stock worth $38,000 after acquiring an additional 189 shares during the last quarter. Finally, ST Germain D J Co. Inc. increased its holdings in Wabtec by 30.2% during the 2nd quarter. ST Germain D J Co. Inc. now owns 207 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 48 shares in the last quarter. 91.69% of the stock is owned by institutional investors.

Insider Transactions at Wabtec

In other Wabtec news, insider Michael Fetsko sold 5,058 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $215.72, for a total transaction of $1,091,111.76. Following the transaction, the insider owned 36,882 shares in the company, valued at approximately $7,956,185.04. This trade represents a 12.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gregory Sbrocco sold 2,953 shares of the company’s stock in a transaction dated Thursday, October 23rd. The shares were sold at an average price of $195.43, for a total value of $577,104.79. Following the completion of the sale, the executive vice president directly owned 17,829 shares of the company’s stock, valued at approximately $3,484,321.47. This trade represents a 14.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 35,714 shares of company stock valued at $7,441,102. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on WAB. Susquehanna boosted 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. JPMorgan Chase & Co. upped their price target on shares of Wabtec from $200.00 to $215.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Wells Fargo & Company increased their price objective on shares of Wabtec from $221.00 to $224.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 17th. Citigroup upped their target price on shares of Wabtec from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. Finally, Bank of America boosted their price objective on shares of Wabtec from $228.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Wabtec presently has a consensus rating of “Moderate Buy” and a consensus price target of $227.11.

Wabtec Trading Down 0.0%

Shares of NYSE WAB opened at $219.48 on Friday. The company’s 50 day simple moving average is $206.95 and its 200 day simple moving average is $201.42. Wabtec has a fifty-two week low of $151.81 and a fifty-two week high of $222.47. The firm has a market capitalization of $37.52 billion, a P/E ratio of 31.90, a P/E/G ratio of 1.69 and a beta of 0.99. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.75.

Wabtec (NYSE:WAB) last released its earnings results on Wednesday, October 22nd. The transportation company reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $2.28 by $0.04. The firm had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.88 billion. Wabtec had a net margin of 10.94% and a return on equity of 13.84%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.00 EPS. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. On average, analysts predict that Wabtec will post 8.54 EPS for the current year.

Wabtec Announces Dividend

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

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.