R Squared Ltd Sells 378 Shares of Wabtec $WAB

R Squared Ltd lessened its holdings in shares of Wabtec (NYSE:WAB) by 18.8% in the second quarter, HoldingsChannel.com reports. The firm owned 1,632 shares of the transportation company’s stock after selling 378 shares during the period. R Squared Ltd’s holdings in Wabtec were worth $342,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of WAB. Greenleaf Trust increased its stake in Wabtec by 2.8% during the 1st quarter. Greenleaf Trust now owns 3,437 shares of the transportation company’s stock valued at $623,000 after purchasing an additional 93 shares in the last quarter. New York State Common Retirement Fund increased its stake in Wabtec by 16.0% during the 1st quarter. New York State Common Retirement Fund now owns 142,163 shares of the transportation company’s stock valued at $25,781,000 after purchasing an additional 19,600 shares in the last quarter. Pacer Advisors Inc. increased its stake in Wabtec by 2,220.1% during the 1st quarter. Pacer Advisors Inc. now owns 738,038 shares of the transportation company’s stock valued at $133,843,000 after purchasing an additional 706,227 shares in the last quarter. Harvest Fund Management Co. Ltd increased its stake in Wabtec by 30.5% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 5,097 shares of the transportation company’s stock valued at $957,000 after purchasing an additional 1,190 shares in the last quarter. Finally, Raiffeisen Bank International AG increased its stake in Wabtec by 159.0% during the 1st quarter. Raiffeisen Bank International AG now owns 16,561 shares of the transportation company’s stock valued at $3,011,000 after purchasing an additional 10,168 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Bank of America upped their target price on shares of Wabtec from $231.00 to $236.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Wabtec in a research note on Friday. Susquehanna upped their target price on shares of Wabtec from $235.00 to $240.00 and gave the stock a “positive” rating in a research note on Thursday. Wall Street Zen lowered shares of Wabtec from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Citigroup assumed coverage on shares of Wabtec in a research note on Monday, September 22nd. They issued a “buy” rating and a $225.00 target price for the company. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $225.38.

Insider Activity

In other Wabtec news, 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 transaction of $577,104.79. Following the sale, the executive vice president directly owned 17,829 shares of the company’s stock, valued at $3,484,321.47. This represents a 14.21% 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 link. Also, CEO Rafael Santana sold 1,798 shares of the company’s stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $195.04, for a total transaction of $350,681.92. Following the sale, the chief executive officer directly owned 133,133 shares in the company, valued at approximately $25,966,260.32. This trade represents a 1.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,234 shares of company stock worth $1,781,345. Insiders own 1.10% of the company’s stock.

Wabtec Price Performance

WAB opened at $197.81 on Friday. The firm has a market cap of $33.82 billion, a P/E ratio of 28.75, a PEG ratio of 1.51 and a beta of 1.10. The firm has a 50-day moving average of $194.06 and a 200 day moving average of $195.71. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.05 and a current ratio of 1.42. Wabtec has a fifty-two week low of $151.81 and a fifty-two week high of $216.10.

Wabtec (NYSE:WAB) last posted its quarterly earnings results on Wednesday, October 22nd. The transportation company reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.04. The company 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 firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.00 earnings per share. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. On average, research analysts expect that Wabtec will post 8.54 EPS for the current year.

Wabtec Announces Dividend

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