Gibraltar Capital Management Inc. Makes New $5.80 Million Investment in Wabtec $WAB

Gibraltar Capital Management Inc. purchased a new stake in Wabtec (NYSE:WAB) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 28,935 shares of the transportation company’s stock, valued at approximately $5,801,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Wabtec during the 2nd quarter worth about $347,194,000. Qube Research & Technologies Ltd acquired a new position in shares of Wabtec in the 2nd quarter worth approximately $121,612,000. Aviva PLC grew its holdings in shares of Wabtec by 7,960.0% during the second quarter. Aviva PLC now owns 527,685 shares of the transportation company’s stock worth $110,471,000 after purchasing an additional 521,138 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Wabtec by 2.5% in the second quarter. Vanguard Group Inc. now owns 19,930,893 shares of the transportation company’s stock valued at $4,172,532,000 after buying an additional 493,437 shares in the last quarter. Finally, Amundi raised its stake in shares of Wabtec by 36.8% in the second quarter. Amundi now owns 1,614,789 shares of the transportation company’s stock worth $345,371,000 after acquiring an additional 434,401 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price target on Wabtec from $215.00 to $245.00 and gave the company a “neutral” rating in a research note on Wednesday. Wolfe Research raised shares of Wabtec from a “peer perform” rating to an “outperform” rating and set a $245.00 target price for the company in a research report on Thursday, January 8th. Morgan Stanley lifted their price objective on shares of Wabtec from $257.00 to $264.00 and gave the company an “overweight” rating in a research report on Monday. Bank of America increased their price objective on shares of Wabtec from $228.00 to $233.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Finally, Wells Fargo & Company lifted their price objective on shares of Wabtec from $221.00 to $224.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 17th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Wabtec presently has an average rating of “Moderate Buy” and a consensus price target of $237.00.

Wabtec Stock Performance

Shares of Wabtec stock opened at $230.00 on Friday. The company’s 50 day moving average price is $213.49 and its two-hundred day moving average price is $203.34. The firm has a market capitalization of $39.32 billion, a P/E ratio of 33.43, a P/E/G ratio of 1.55 and a beta of 1.00. Wabtec has a fifty-two week low of $151.81 and a fifty-two week high of $230.71. 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 posted its quarterly earnings data 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 company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.88 billion. Wabtec had a return on equity of 13.84% and a net margin of 10.94%.The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.00 earnings per share. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. On average, equities analysts forecast that Wabtec will post 8.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Michael Fetsko sold 5,058 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $215.72, for a total value of $1,091,111.76. Following the transaction, the insider owned 36,882 shares in the company, valued at $7,956,185.04. This trade represents a 12.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO John A. Mastalerz, Jr. sold 2,766 shares of the company’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $210.00, for a total value of $580,860.00. Following the sale, the chief accounting officer owned 5,286 shares of the company’s stock, valued at $1,110,060. This trade represents a 34.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 33,916 shares of company stock worth $7,090,420 in the last 90 days. Company insiders own 1.10% of the company’s stock.

Wabtec 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.