Wabtec $WAB Shares Bought by Nordea Investment Management AB

Nordea Investment Management AB raised its stake in Wabtec (NYSE:WAB) by 33.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,592,529 shares of the transportation company’s stock after acquiring an additional 398,782 shares during the quarter. Nordea Investment Management AB’s holdings in Wabtec were worth $333,062,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. ST Germain D J Co. Inc. increased its position in shares of Wabtec by 30.2% in the second quarter. ST Germain D J Co. Inc. now owns 207 shares of the transportation company’s stock valued at $43,000 after buying an additional 48 shares in the last quarter. PFS Partners LLC increased its position in shares of Wabtec by 70.4% in the second quarter. PFS Partners LLC now owns 121 shares of the transportation company’s stock valued at $25,000 after buying an additional 50 shares in the last quarter. Trust Co. of Vermont increased its position in shares of Wabtec by 44.2% in the second quarter. Trust Co. of Vermont now owns 163 shares of the transportation company’s stock valued at $34,000 after buying an additional 50 shares in the last quarter. UMB Bank n.a. increased its position in shares of Wabtec by 22.2% in the second quarter. UMB Bank n.a. now owns 358 shares of the transportation company’s stock valued at $75,000 after buying an additional 65 shares in the last quarter. Finally, Harbour Investments Inc. increased its position in shares of Wabtec by 30.9% in the second quarter. Harbour Investments Inc. now owns 309 shares of the transportation company’s stock valued at $65,000 after buying an additional 73 shares in the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Wabtec news, CEO Rafael Santana sold 1,799 shares of the business’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $189.97, for a total transaction of $341,756.03. Following the transaction, the chief executive officer owned 136,729 shares of the company’s stock, valued at approximately $25,974,408.13. The trade was a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 6,281 shares of company stock worth $1,204,240 over the last quarter. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

WAB has been the subject of a number of recent analyst reports. Citigroup initiated coverage on Wabtec in a research report on Monday, September 22nd. They issued a “buy” rating and a $225.00 price objective for the company. Bank of America boosted their price target on Wabtec from $231.00 to $236.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. KeyCorp reiterated an “overweight” rating and set a $240.00 price target (up from $220.00) on shares of Wabtec in a research report on Tuesday, June 24th. Wall Street Zen cut Wabtec from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Wabtec in a research report on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $224.75.

Wabtec Stock Performance

NYSE WAB opened at $193.62 on Friday. The stock’s fifty day moving average is $193.54 and its two-hundred day moving average is $194.67. The firm has a market capitalization of $33.10 billion, a P/E ratio of 28.90, a price-to-earnings-growth ratio of 1.53 and a beta of 1.10. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.76. Wabtec has a fifty-two week low of $151.81 and a fifty-two week high of $216.10.

Wabtec (NYSE:WAB) last released its quarterly earnings data on Thursday, July 24th. The transportation company reported $2.27 earnings per share for the quarter, topping analysts’ consensus estimates of $2.18 by $0.09. The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.76 billion. Wabtec had a return on equity of 13.65% and a net margin of 10.92%.The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.96 earnings per share. Wabtec has set its FY 2025 guidance at 8.550-9.150 EPS. On average, research analysts anticipate that Wabtec will post 8.54 earnings per share for the current year.

Wabtec Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. Wabtec’s payout ratio is 14.93%.

About Wabtec

Westinghouse Air Brake Technologies Corporation, together with its subsidiaries, provides technology-based locomotives, equipment, systems, and services for the freight rail and passenger transit industries worldwide. It offers diesel-electric, battery, and liquid natural gas-powered locomotives; engines, electric motors, and propulsion systems; and marine and mining products.