Candriam S.C.A. Acquires 17,960 Shares of Wabtec $WAB

Candriam S.C.A. increased its holdings in shares of Wabtec (NYSE:WAB) by 3.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 482,986 shares of the transportation company’s stock after acquiring an additional 17,960 shares during the quarter. Candriam S.C.A.’s holdings in Wabtec were worth $96,824,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Parkside Financial Bank & Trust grew its position in shares of Wabtec by 7.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 797 shares of the transportation company’s stock worth $167,000 after purchasing an additional 54 shares in the last quarter. CVA Family Office LLC boosted its stake in shares of Wabtec by 7.9% in the second quarter. CVA Family Office LLC now owns 748 shares of the transportation company’s stock valued at $157,000 after buying an additional 55 shares during the period. Premier Path Wealth Partners LLC grew its position in Wabtec by 3.5% during the second quarter. Premier Path Wealth Partners LLC now owns 1,623 shares of the transportation company’s stock worth $340,000 after buying an additional 55 shares in the last quarter. Wedmont Private Capital increased its stake in Wabtec by 2.6% during the 3rd quarter. Wedmont Private Capital now owns 2,246 shares of the transportation company’s stock worth $444,000 after acquiring an additional 56 shares during the period. Finally, OFI Invest Asset Management raised its holdings in Wabtec by 10.0% in the 3rd quarter. OFI Invest Asset Management now owns 625 shares of the transportation company’s stock valued at $125,000 after acquiring an additional 57 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Wabtec Stock Performance

Shares of Wabtec stock opened at $246.56 on Monday. The company’s 50 day moving average price is $222.44 and its two-hundred day moving average price is $205.46. The firm has a market capitalization of $42.15 billion, a P/E ratio of 35.84, a P/E/G ratio of 1.68 and a beta of 1.01. Wabtec has a fifty-two week low of $151.81 and a fifty-two week high of $246.68. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.75.

Insider Activity at Wabtec

In related news, insider Michael Fetsko sold 5,058 shares of the business’s stock in a transaction on 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 sale, the insider owned 36,882 shares in the company, valued at $7,956,185.04. The trade was a 12.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP David L. Deninno sold 5,000 shares of the company’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $214.62, for a total value of $1,073,100.00. Following the completion of the transaction, the vice president directly owned 50,450 shares of the company’s stock, valued at approximately $10,827,579. The trade was a 9.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 24,641 shares of company stock worth $5,233,559 over the last 90 days. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

WAB has been the subject of a number of analyst reports. Bank of America boosted their price target on Wabtec from $228.00 to $233.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Weiss Ratings reissued a “buy (b)” rating on shares of Wabtec in a research note on Wednesday, January 21st. Wells Fargo & Company upped their target price on Wabtec from $221.00 to $224.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 17th. Wolfe Research raised Wabtec from a “peer perform” rating to an “outperform” rating and set a $245.00 target price on the stock in a report on Thursday, January 8th. Finally, JPMorgan Chase & Co. boosted their price target on Wabtec from $215.00 to $245.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $241.00.

About Wabtec

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.