Profund Advisors LLC Has $504,000 Position in Wabtec $WAB

Profund Advisors LLC lifted its position in shares of Wabtec (NYSE:WAB) by 31.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,409 shares of the transportation company’s stock after acquiring an additional 571 shares during the period. Profund Advisors LLC’s holdings in Wabtec were worth $504,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity

In other Wabtec news, EVP Gregory Sbrocco sold 2,953 shares of the company’s stock in a transaction on 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 owned 17,829 shares of the company’s stock, valued at approximately $3,484,321.47. This represents a 14.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Pascal Schweitzer sold 3,000 shares of the stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $208.07, for a total value of $624,210.00. Following the sale, the insider owned 4,955 shares of the company’s stock, valued at approximately $1,030,986.85. The trade was a 37.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 18,556 shares of company stock worth $3,685,311 in the last three months. Corporate insiders own 1.10% of the company’s stock.

Wabtec Stock Performance

NYSE WAB opened at $209.73 on Thursday. The company has a market capitalization of $35.85 billion, a price-to-earnings ratio of 30.48, a PEG ratio of 1.55 and a beta of 1.09. The company has a quick ratio of 0.75, a current ratio of 1.42 and a debt-to-equity ratio of 0.45. Wabtec has a twelve month low of $151.81 and a twelve month high of $216.10. The stock has a fifty day simple moving average of $197.04 and a 200 day simple moving average of $198.86.

Wabtec (NYSE:WAB) last issued 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 analysts’ expectations of $2.88 billion. Wabtec had a return on equity of 13.84% and a net margin of 10.94%.The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.00 earnings per share. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. Sell-side analysts expect that Wabtec will post 8.54 EPS for the current year.

Wabtec Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Investors 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 yield of 0.5%. The ex-dividend date of this dividend is Wednesday, November 12th. Wabtec’s dividend payout ratio (DPR) is currently 14.53%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Susquehanna lifted their price target on shares of Wabtec from $235.00 to $240.00 and gave the company a “positive” rating in a report on Thursday, October 23rd. Wall Street Zen lowered shares of Wabtec from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. JPMorgan Chase & Co. upped their price target on shares of Wabtec from $200.00 to $215.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. Morgan Stanley increased their price target on Wabtec from $220.00 to $226.00 and gave the company an “overweight” rating in a research note on Monday, July 28th. Finally, Citigroup started coverage on Wabtec in a report on Monday, September 22nd. They set a “buy” rating and a $225.00 price objective on the stock. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.38.

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.