AustralianSuper Pty Ltd Has $199.55 Million Position in Wabtec $WAB

AustralianSuper Pty Ltd grew its position in Wabtec (NYSE:WAB) by 13.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 995,392 shares of the transportation company’s stock after purchasing an additional 121,331 shares during the period. Wabtec comprises about 0.9% of AustralianSuper Pty Ltd’s portfolio, making the stock its 22nd largest position. AustralianSuper Pty Ltd’s holdings in Wabtec were worth $199,546,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Empowered Funds LLC boosted its stake in shares of Wabtec by 240.8% during the 2nd quarter. Empowered Funds LLC now owns 15,924 shares of the transportation company’s stock worth $3,334,000 after buying an additional 11,252 shares during the last quarter. Varenne Capital Partners boosted its position in Wabtec by 39.5% during the second quarter. Varenne Capital Partners now owns 277,078 shares of the transportation company’s stock valued at $58,006,000 after purchasing an additional 78,394 shares during the last quarter. Quantbot Technologies LP bought a new position in Wabtec in the second quarter valued at approximately $9,371,000. Mediolanum International Funds Ltd acquired a new position in shares of Wabtec during the 2nd quarter worth approximately $8,201,000. Finally, Neuberger Berman Group LLC raised its stake in shares of Wabtec by 5.2% during the 2nd quarter. Neuberger Berman Group LLC now owns 229,233 shares of the transportation company’s stock worth $47,990,000 after purchasing an additional 11,406 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Insiders Place Their Bets

In other Wabtec news, CAO John A. Mastalerz, Jr. sold 2,766 shares of the stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $210.00, for a total transaction of $580,860.00. Following the transaction, the chief accounting officer owned 5,286 shares in the company, valued at $1,110,060. This represents a 34.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP David L. Deninno sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $214.62, for a total transaction of $1,073,100.00. Following the transaction, the vice president directly owned 50,450 shares in the company, valued at $10,827,579. This represents a 9.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 28,863 shares of company stock valued at $6,093,588 in the last three months. Insiders own 1.10% of the company’s stock.

Wabtec Stock Down 1.4%

WAB stock opened at $228.44 on Thursday. Wabtec has a fifty-two week low of $151.81 and a fifty-two week high of $236.00. 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 stock has a market capitalization of $39.05 billion, a price-to-earnings ratio of 33.20, a PEG ratio of 1.58 and a beta of 1.00. The business’s fifty day moving average price is $217.78 and its two-hundred day moving average price is $204.28.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Morgan Stanley upped their price target on shares of Wabtec from $257.00 to $264.00 and gave the stock an “overweight” rating in a research report on Monday, January 12th. Bank of America boosted their price target on Wabtec from $228.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Wells Fargo & Company lifted 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. JPMorgan Chase & Co. boosted their target price on Wabtec from $215.00 to $245.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wabtec in a report on Wednesday, January 21st. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $241.00.

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.