Candriam S.C.A. Acquires 32,050 Shares of Wabtec $WAB

Candriam S.C.A. grew its stake in Wabtec (NYSE:WAB) by 7.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 465,026 shares of the transportation company’s stock after acquiring an additional 32,050 shares during the period. Candriam S.C.A.’s holdings in Wabtec were worth $97,357,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of WAB. PFS Partners LLC boosted its position in Wabtec by 70.4% during the second quarter. PFS Partners LLC now owns 121 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. Trust Co. of Vermont raised its stake in shares of Wabtec by 44.2% during the 2nd quarter. Trust Co. of Vermont now owns 163 shares of the transportation company’s stock worth $34,000 after purchasing an additional 50 shares in the last quarter. ST Germain D J Co. Inc. boosted its holdings in shares of Wabtec by 30.2% in the 2nd 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 during the last quarter. Ameritas Advisory Services LLC bought a new position in shares of Wabtec in the second quarter valued at $44,000. Finally, NewSquare Capital LLC increased its holdings in Wabtec by 125.3% during the second quarter. NewSquare Capital LLC now owns 223 shares of the transportation company’s stock worth $47,000 after buying an additional 124 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Insider Buying and Selling at Wabtec

In other Wabtec news, CEO Rafael Santana sold 1,799 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were 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 in the company, valued at $25,974,408.13. This represents a 1.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Gregory Sbrocco sold 2,953 shares of the firm’s stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $195.43, for a total transaction of $577,104.79. Following the transaction, the executive vice president directly owned 17,829 shares in the company, valued at $3,484,321.47. This represents a 14.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 18,556 shares of company stock valued at $3,685,311. 1.10% of the stock is currently owned by insiders.

Wabtec Stock Up 0.9%

Wabtec stock opened at $209.73 on Thursday. Wabtec has a twelve month low of $151.81 and a twelve month high of $216.10. The stock has a market cap of $35.85 billion, a P/E ratio of 30.48, a P/E/G ratio of 1.55 and a beta of 1.09. The company’s 50-day moving average price is $197.04 and its two-hundred day moving average price is $198.86. 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 (NYSE:WAB) last announced its earnings results on Wednesday, October 22nd. The transportation company reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.28 by $0.04. The company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.88 billion. Wabtec had a return on equity of 13.84% and a net margin of 10.94%.The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.00 earnings per share. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. As a group, analysts expect that Wabtec will post 8.54 EPS for the current year.

Wabtec Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th will be given a $0.25 dividend. 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 payout ratio is presently 14.53%.

Wall Street Analyst Weigh In

WAB has been the subject of a number of recent analyst reports. Citigroup initiated coverage on shares of Wabtec in a research note on Monday, September 22nd. They issued a “buy” rating and a $225.00 price target for the company. JPMorgan Chase & Co. upped their target price on shares of Wabtec from $200.00 to $215.00 and gave the company a “neutral” rating in a report on Tuesday, October 14th. Wall Street Zen downgraded shares of Wabtec from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Weiss Ratings reissued a “buy (b)” rating on shares of Wabtec in a research report on Wednesday, October 8th. Finally, Susquehanna upped their price objective on Wabtec from $235.00 to $240.00 and gave the company a “positive” rating in a research note on Thursday, October 23rd. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Wabtec presently has a consensus rating of “Moderate Buy” and an average target price of $225.38.

Wabtec Profile

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.