Mitsubishi UFJ Asset Management Co. Ltd. Purchases 24,857 Shares of Wabtec $WAB

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Wabtec (NYSE:WAB) by 8.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 331,084 shares of the transportation company’s stock after buying an additional 24,857 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Wabtec were worth $69,312,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Nordea Investment Management AB boosted its position in shares of Wabtec by 33.4% in the second quarter. Nordea Investment Management AB now owns 1,592,529 shares of the transportation company’s stock valued at $333,062,000 after acquiring an additional 398,782 shares during the period. AustralianSuper Pty Ltd grew its position in shares of Wabtec by 11.5% during the 2nd quarter. AustralianSuper Pty Ltd now owns 874,061 shares of the transportation company’s stock valued at $182,985,000 after purchasing an additional 90,392 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of Wabtec by 56.3% in the second quarter. Robeco Institutional Asset Management B.V. now owns 778,156 shares of the transportation company’s stock worth $162,907,000 after purchasing an additional 280,140 shares during the period. Pacer Advisors Inc. raised its position in shares of Wabtec by 2,220.1% in the first quarter. Pacer Advisors Inc. now owns 738,038 shares of the transportation company’s stock worth $133,843,000 after buying an additional 706,227 shares in the last quarter. Finally, Aviva PLC boosted its stake in Wabtec by 7,960.0% during the second quarter. Aviva PLC now owns 527,685 shares of the transportation company’s stock valued at $110,471,000 after buying an additional 521,138 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Wabtec Trading Up 1.2%

WAB stock opened at $206.13 on Monday. The company has a market capitalization of $35.24 billion, a PE ratio of 29.96, a price-to-earnings-growth ratio of 1.55 and a beta of 1.09. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.75 and a current ratio of 1.42. Wabtec has a one year low of $151.81 and a one year high of $216.10. The company’s 50 day moving average price is $196.02 and its two-hundred day moving average price is $198.45.

Wabtec (NYSE:WAB) last announced its quarterly earnings data on Wednesday, October 22nd. The transportation company reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.28 by $0.04. Wabtec had a net margin of 10.94% and a return on equity of 13.84%. The company had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter in the prior year, the company earned $2.00 EPS. The firm’s revenue was up 8.4% on a year-over-year basis. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. As a group, analysts predict that Wabtec will post 8.54 earnings per share for the current fiscal year.

Wabtec Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, November 12th. Wabtec’s dividend payout ratio (DPR) is 14.53%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Susquehanna upped their target price on Wabtec from $235.00 to $240.00 and gave the stock a “positive” rating in a research note on Thursday, October 23rd. JPMorgan Chase & Co. raised their target price on shares of Wabtec from $200.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Wall Street Zen lowered shares of Wabtec from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Citigroup initiated coverage on shares of Wabtec in a research report on Monday, September 22nd. They set a “buy” rating and a $225.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wabtec in a report on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $225.38.

Insider Transactions at Wabtec

In other news, CEO Rafael Santana sold 1,799 shares of the business’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $189.97, for a total value of $341,756.03. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP David L. Deninno sold 2,100 shares of the firm’s stock in a transaction that occurred on Tuesday, October 28th. The stock was sold at an average price of $199.87, for a total value of $419,727.00. Following the transaction, the vice president owned 60,450 shares in the company, valued at approximately $12,082,141.50. The trade was a 3.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 15,556 shares of company stock worth $3,061,101. Company insiders own 1.10% of the company’s stock.

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.