Massachusetts Financial Services Co. MA Has $403.82 Million Stock Holdings in Wabtec $WAB

Massachusetts Financial Services Co. MA trimmed its position in Wabtec (NYSE:WAB) by 55.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,014,383 shares of the transportation company’s stock after selling 2,482,783 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.18% of Wabtec worth $403,823,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WAB. Empowered Funds LLC increased its holdings in shares of Wabtec by 240.8% during the second quarter. Empowered Funds LLC now owns 15,924 shares of the transportation company’s stock worth $3,334,000 after buying an additional 11,252 shares in the last quarter. Varenne Capital Partners grew its position in Wabtec by 39.5% during the 2nd quarter. Varenne Capital Partners now owns 277,078 shares of the transportation company’s stock worth $58,006,000 after acquiring an additional 78,394 shares during the last quarter. Quantbot Technologies LP bought a new stake in Wabtec during the 2nd quarter worth $9,371,000. Mediolanum International Funds Ltd acquired a new position in Wabtec in the 2nd quarter worth about $8,201,000. Finally, Neuberger Berman Group LLC raised its position in Wabtec by 5.2% in the second quarter. Neuberger Berman Group LLC now owns 229,233 shares of the transportation company’s stock valued at $47,990,000 after purchasing an additional 11,406 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors.

Wabtec Stock Up 0.6%

Wabtec stock opened at $230.00 on Monday. The firm has a market cap of $39.32 billion, a price-to-earnings ratio of 33.43, a PEG ratio of 1.56 and a beta of 1.00. Wabtec has a 52-week low of $151.81 and a 52-week high of $230.71. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.75 and a current ratio of 1.42. The firm has a 50 day moving average price of $213.49 and a two-hundred day moving average price of $203.23.

Wabtec (NYSE:WAB) last posted its quarterly earnings data on Wednesday, October 22nd. The transportation company reported $2.32 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the company posted $2.00 earnings per share. Wabtec’s revenue for the quarter was up 8.4% compared to the same quarter last year. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. Equities analysts predict that Wabtec will post 8.54 EPS for the current year.

Insider Transactions at Wabtec

In other Wabtec news, insider Pascal Schweitzer sold 3,000 shares of Wabtec stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $208.07, for a total value of $624,210.00. Following the completion of the sale, the insider directly owned 4,955 shares in the company, valued at approximately $1,030,986.85. The trade was a 37.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Gregory Sbrocco sold 2,953 shares of the stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $195.43, for a total value of $577,104.79. Following the transaction, the executive vice president owned 17,829 shares in the company, valued at $3,484,321.47. The trade was a 14.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 33,916 shares of company stock worth $7,090,420. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on WAB. Bank of America boosted their price target on Wabtec from $228.00 to $233.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Citigroup boosted their target price on shares of Wabtec from $245.00 to $258.00 and gave the stock a “buy” rating in a report on Friday, January 9th. JPMorgan Chase & Co. raised their price target on shares of Wabtec from $215.00 to $245.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Susquehanna lifted their price target on shares of Wabtec from $235.00 to $240.00 and gave the stock a “positive” rating in a report on Thursday, October 23rd. Finally, Morgan Stanley boosted their price objective on shares of Wabtec from $257.00 to $264.00 and gave the stock an “overweight” rating in a research note on Monday, January 12th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Wabtec has an average rating of “Moderate Buy” and an average price target of $237.00.

Wabtec Company Profile

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.