2,296 Wabtec $WAB Shares Sold by Diversified Trust Co

Diversified Trust Co trimmed its position in Wabtec (NYSE:WAB) by 11.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,255 shares of the transportation company’s stock after selling 2,296 shares during the period. Diversified Trust Co’s holdings in Wabtec were worth $5,242,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Wabtec during the second quarter worth about $3,741,077,000. Aberdeen Group plc lifted its stake in Wabtec by 620.8% in the 3rd quarter. Aberdeen Group plc now owns 1,809,470 shares of the transportation company’s stock valued at $519,644,000 after acquiring an additional 1,558,445 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Wabtec in the 2nd quarter valued at approximately $212,692,000. Deutsche Bank AG bought a new stake in Wabtec in the 2nd quarter valued at approximately $207,228,000. Finally, Junto Capital Management LP acquired a new position in Wabtec during the 2nd quarter worth approximately $142,007,000. 91.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on WAB. Susquehanna raised their price target on shares of Wabtec from $305.00 to $340.00 and gave the stock a “positive” rating in a research note on Thursday, July 23rd. Wall Street Zen downgraded shares of Wabtec from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Wells Fargo & Company boosted their price objective on shares of Wabtec from $284.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 23rd. Weiss Ratings cut shares of Wabtec from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday. Finally, Citigroup reduced their target price on shares of Wabtec from $338.00 to $334.00 and set a “buy” rating for the company in a report on Thursday, October 22nd. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $328.90.

Insider Activity at Wabtec

In related news, insider Michael Fetsko sold 3,250 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $293.22, for a total transaction of $952,965.00. Following the transaction, the insider directly owned 37,380 shares in the company, valued at approximately $10,960,563.60. The trade was a 8.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Rafael Santana sold 1,087 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $33,892,867.45. The trade was a 0.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 5,289 shares of company stock valued at $1,555,741. 0.57% of the stock is owned by corporate insiders.

Wabtec Stock Performance

Shares of NYSE WAB opened at $297.68 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.56 and a current ratio of 1.10. The stock has a 50 day moving average price of $286.21 and a 200 day moving average price of $270.87. The stock has a market capitalization of $49.95 billion, a PE ratio of 36.98, a price-to-earnings-growth ratio of 1.68 and a beta of 0.93. Wabtec has a 52 week low of $194.93 and a 52 week high of $307.96.

Wabtec (NYSE:WAB) last posted its quarterly earnings results on Wednesday, October 21st. The transportation company reported $2.83 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $3.20 billion. During the same quarter in the previous year, the firm earned $2.32 EPS. The business’s quarterly revenue was up 8.1% on a year-over-year basis. Analysts predict that Wabtec will post 10.97 earnings per share for the current fiscal year.

Wabtec Dividend Announcement

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

About Wabtec

Wabtec Corporation (NYSE: WAB), also known as Westinghouse Air Brake Technologies, supplies equipment, systems and services for the freight rail and passenger transit industries. Its products include locomotives, braking and train control systems, propulsion equipment, and components designed to support rail safety and performance. The company also provides aftermarket services, including maintenance, modernization, parts and digital solutions for rail operators. Its offerings serve freight railroads, transit agencies and other customers in the global rail industry.