Wabtec $WAB Stock Sold by Capital Investment Services of America Inc.

Capital Investment Services of America Inc. lessened its holdings in Wabtec (NYSE:WAB) by 3.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 123,474 shares of the transportation company’s stock after selling 4,220 shares during the period. Wabtec makes up approximately 3.4% of Capital Investment Services of America Inc.’s portfolio, making the stock its 5th biggest holding. Capital Investment Services of America Inc. owned 0.07% of Wabtec worth $35,459,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Collaborative Fund Advisors LLC purchased a new stake in shares of Wabtec during the third quarter valued at approximately $439,000. Ascent Group LLC lifted its holdings in Wabtec by 2.8% during the third quarter. Ascent Group LLC now owns 8,318 shares of the transportation company’s stock worth $2,389,000 after acquiring an additional 226 shares during the period. Rakuten Investment Management Inc. lifted its holdings in Wabtec by 9.3% during the third quarter. Rakuten Investment Management Inc. now owns 30,367 shares of the transportation company’s stock worth $8,844,000 after acquiring an additional 2,586 shares during the period. Provenance Wealth Advisors LLC lifted its holdings in Wabtec by 14,610.5% during the third quarter. Provenance Wealth Advisors LLC now owns 2,795 shares of the transportation company’s stock worth $803,000 after acquiring an additional 2,776 shares during the period. Finally, Putney Financial Group LLC purchased a new position in Wabtec in the third quarter worth $57,000. 91.69% of the stock is owned by institutional investors.

Insider Activity at Wabtec

In other Wabtec news, EVP Gregory Sbrocco sold 952 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $300.00, for a total transaction of $285,600.00. Following the sale, the executive vice president directly owned 21,043 shares of the company’s stock, valued at $6,312,900. This represents a 4.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Rafael Santana sold 1,087 shares of the stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $291.79, for a total transaction of $317,175.73. Following the transaction, the chief executive officer owned 116,155 shares of the company’s stock, valued at $33,892,867.45. This represents a 0.93% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 5,289 shares of company stock worth $1,555,741. Company insiders own 0.57% of the company’s stock.

Wabtec Stock Performance

NYSE:WAB opened at $294.70 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.10 and a quick ratio of 0.56. The business has a fifty day simple moving average of $285.20 and a two-hundred day simple moving average of $268.62. Wabtec has a 1 year low of $194.93 and a 1 year high of $306.64. The company has a market capitalization of $49.45 billion, a P/E ratio of 36.61, a P/E/G ratio of 1.63 and a beta of 0.93.

Wabtec (NYSE:WAB) last issued its quarterly earnings results on Wednesday, October 21st. The transportation company reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.73 by $0.10. Wabtec had a return on equity of 15.72% and a net margin of 11.20%. The firm had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.20 billion. During the same quarter in the prior year, the firm earned $2.32 EPS. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, analysts expect that Wabtec will post 10.97 earnings per share for the current year.

Wabtec Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, November 17th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $1.24 annualized dividend and a yield of 0.4%. Wabtec’s dividend payout ratio (DPR) is 15.40%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on WAB. Morgan Stanley upped their price objective on Wabtec from $318.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Wall Street Zen cut Wabtec from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Rothschild & Co Redburn cut their price target on shares of Wabtec from $293.00 to $292.00 and set a “buy” rating on the stock in a report on Wednesday, July 29th. Stephens boosted their price target on shares of Wabtec from $330.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, October 21st. Finally, Citigroup reduced their price target on shares of Wabtec from $338.00 to $334.00 and set a “buy” rating for the company in a research report on Thursday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Wabtec currently has a consensus rating of “Moderate Buy” and an average target price of $320.18.

Wabtec Company Profile

Westinghouse Air Brake Technologies Corporation, doing business as Wabtec (NYSE: WAB), is a global provider of equipment, systems, digital solutions and services for the freight and passenger rail industries. The company develops technologies intended to improve the safety, efficiency, reliability and sustainability of rail transportation.

Wabtec’s products and services include locomotives, locomotive components and modernization programs, braking systems, train control and signaling equipment, power and propulsion systems, and advanced digital solutions.