TD Private Client Wealth LLC Trims Holdings in Wabtec $WAB

TD Private Client Wealth LLC decreased its holdings in shares of Wabtec (NYSE:WAB) by 34.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,379 shares of the transportation company’s stock after selling 2,777 shares during the period. TD Private Client Wealth LLC’s holdings in Wabtec were worth $1,078,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Wabtec by 2.5% during the second quarter. Vanguard Group Inc. now owns 19,930,893 shares of the transportation company’s stock valued at $4,172,532,000 after buying an additional 493,437 shares during the period. Geode Capital Management LLC lifted its stake in Wabtec by 0.7% in the second quarter. Geode Capital Management LLC now owns 4,288,014 shares of the transportation company’s stock worth $893,830,000 after acquiring an additional 30,489 shares during the period. Boston Partners boosted its holdings in Wabtec by 9.0% in the second quarter. Boston Partners now owns 2,261,456 shares of the transportation company’s stock valued at $471,410,000 after acquiring an additional 186,248 shares in the last quarter. Nordea Investment Management AB increased its position in Wabtec by 24.0% during the 3rd quarter. Nordea Investment Management AB now owns 1,974,257 shares of the transportation company’s stock valued at $393,252,000 after purchasing an additional 381,728 shares during the period. Finally, Norges Bank bought a new position in Wabtec in the 2nd quarter worth $347,194,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Insider Transactions at Wabtec

In other news, VP David L. Deninno sold 5,000 shares of the firm’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $214.62, for a total transaction of $1,073,100.00. Following the completion of the transaction, the vice president directly owned 50,450 shares in the company, valued at $10,827,579. This trade represents a 9.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Rafael Santana sold 1,798 shares of the company’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $212.17, for a total transaction of $381,481.66. Following the completion of the transaction, the chief executive officer owned 125,941 shares in the company, valued at approximately $26,720,901.97. The trade was a 1.41% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 33,916 shares of company stock valued at $7,090,420. 1.10% of the stock is currently owned by corporate insiders.

Wabtec Price Performance

Shares of WAB opened at $228.24 on Friday. Wabtec has a fifty-two week low of $151.81 and a fifty-two week high of $230.71. The firm’s 50-day simple moving average is $213.01 and its two-hundred day simple moving average is $203.20. The stock has a market cap of $39.02 billion, a PE ratio of 33.17, a price-to-earnings-growth ratio of 1.54 and a beta of 1.00. 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 (NYSE:WAB) last issued its quarterly earnings results on Wednesday, October 22nd. The transportation company reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $2.28 by $0.04. The firm had revenue of $2.89 billion for 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 revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.00 EPS. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. Analysts anticipate that Wabtec will post 8.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Bank of America lifted their target price on shares of Wabtec from $228.00 to $233.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Weiss Ratings restated a “buy (b)” rating on shares of Wabtec in a report on Wednesday, October 8th. JPMorgan Chase & Co. upped their target price on Wabtec from $215.00 to $245.00 and gave the stock a “neutral” rating in a report on Wednesday. Susquehanna increased their target price on Wabtec from $235.00 to $240.00 and gave the stock a “positive” rating in a research report on Thursday, October 23rd. Finally, Morgan Stanley raised their target price on Wabtec from $257.00 to $264.00 and gave the company an “overweight” rating in a research note on Monday. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Wabtec currently has a consensus rating of “Moderate Buy” and a consensus price target of $237.00.

About Wabtec

Wabtec Corporation (Westinghouse Air Brake Technologies Corporation) is a global provider of equipment, systems and services for the rail industry. The company supplies products and solutions to freight railroads, transit agencies and other industrial operators, focusing on technologies that improve the performance, safety and efficiency of locomotives and rail networks. Wabtec’s business spans new equipment manufacturing, aftermarket parts and services, and digital and control systems for rail operations.

Product and service offerings include locomotive systems and components, braking and air systems, propulsion and traction equipment, signaling and control technologies, and a range of aftermarket services such as maintenance, remanufacturing, parts distribution and fleet modernization.