Investment Management Corp of Ontario Sells 5,357 Shares of Wabtec $WAB

Investment Management Corp of Ontario decreased its position in shares of Wabtec (NYSE:WAB) by 32.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,209 shares of the transportation company’s stock after selling 5,357 shares during the period. Investment Management Corp of Ontario’s holdings in Wabtec were worth $2,347,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in WAB. ST Germain D J Co. Inc. lifted its stake 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 during the period. PFS Partners LLC increased its stake 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 acquiring an additional 50 shares during the period. Trust Co. of Vermont raised its holdings in Wabtec by 44.2% in the 2nd quarter. Trust Co. of Vermont now owns 163 shares of the transportation company’s stock valued at $34,000 after acquiring an additional 50 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in Wabtec by 7.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 797 shares of the transportation company’s stock valued at $167,000 after acquiring an additional 54 shares in the last quarter. Finally, CVA Family Office LLC lifted its position in shares of Wabtec by 7.9% in the 2nd quarter. CVA Family Office LLC now owns 748 shares of the transportation company’s stock worth $157,000 after acquiring an additional 55 shares during the period. 91.69% of the stock is currently owned by institutional investors.

Wabtec Stock Performance

WAB stock opened at $215.70 on Thursday. The company has a 50 day moving average price of $202.54 and a 200 day moving average price of $200.34. Wabtec has a fifty-two week low of $151.81 and a fifty-two week high of $216.97. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.75. The stock has a market capitalization of $36.88 billion, a PE ratio of 31.35, a price-to-earnings-growth ratio of 1.62 and a beta of 0.99.

Wabtec (NYSE:WAB) last released 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 during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.00 earnings per share. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. Analysts forecast that Wabtec will post 8.54 EPS for the current year.

Wabtec Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, November 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Wabtec’s payout ratio is presently 14.53%.

Analyst Ratings Changes

A number of research firms have recently issued reports on WAB. Citigroup boosted their price objective on Wabtec from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, November 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of Wabtec in a research report on Wednesday, October 8th. Bank of America upped their target price on shares of Wabtec from $228.00 to $233.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Wells Fargo & Company started coverage on shares of Wabtec in a research note on Thursday, November 13th. They set an “equal weight” rating and a $221.00 price objective on the stock. Finally, Susquehanna lifted their target price on shares of Wabtec from $235.00 to $240.00 and gave the company a “positive” rating in a research note on Thursday, October 23rd. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $226.78.

Insider Buying and Selling

In other news, EVP Gregory Sbrocco sold 2,953 shares of the business’s stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of $195.43, for a total transaction of $577,104.79. Following the completion of the transaction, the executive vice president directly owned 17,829 shares in the company, valued at approximately $3,484,321.47. The trade was a 14.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO John A. Mastalerz, Jr. sold 2,766 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $210.00, for a total value of $580,860.00. Following the completion of the sale, the chief accounting officer directly owned 5,286 shares of the company’s stock, valued at approximately $1,110,060. This trade represents a 34.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 32,455 shares of company stock worth $6,651,219 over the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

Wabtec Company 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.