Covea Finance Has $20.30 Million Holdings in Wabtec $WAB

Covea Finance cut its holdings in shares of Wabtec (NYSE:WAB) by 12.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 101,246 shares of the transportation company’s stock after selling 14,702 shares during the period. Covea Finance’s holdings in Wabtec were worth $20,297,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Wabtec by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 19,930,893 shares of the transportation company’s stock valued at $4,172,532,000 after purchasing an additional 493,437 shares in the last quarter. Geode Capital Management LLC raised its holdings in Wabtec by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 4,288,014 shares of the transportation company’s stock worth $893,830,000 after buying an additional 30,489 shares during the period. Boston Partners lifted its stake 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 buying an additional 186,248 shares in the last quarter. Norges Bank acquired a new position in shares of Wabtec in the second quarter valued at approximately $347,194,000. Finally, Amundi increased its position in shares of Wabtec by 36.8% during the second quarter. Amundi now owns 1,614,789 shares of the transportation company’s stock worth $345,371,000 after acquiring an additional 434,401 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors.

Insider Activity at Wabtec

In other news, insider Pascal Schweitzer sold 3,000 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $208.07, for a total value of $624,210.00. Following the sale, the insider directly owned 4,955 shares of the company’s stock, valued at approximately $1,030,986.85. This represents a 37.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO John A. Mastalerz, Jr. sold 2,766 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $210.00, for a total transaction of $580,860.00. Following the completion of the sale, the chief accounting officer owned 5,286 shares of the company’s stock, valued at $1,110,060. This trade represents a 34.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 35,714 shares of company stock worth $7,441,102 over the last ninety days. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on WAB shares. JPMorgan Chase & Co. boosted their price objective on shares of Wabtec from $200.00 to $215.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. Wells Fargo & Company lifted their price target on Wabtec from $221.00 to $224.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 17th. Bank of America upped their price objective on Wabtec from $228.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Citigroup increased their price objective on Wabtec from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Wabtec in a research note on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $227.11.

Wabtec Price Performance

NYSE:WAB opened at $219.48 on Friday. Wabtec has a 52-week low of $151.81 and a 52-week high of $222.47. The company has a market cap of $37.52 billion, a P/E ratio of 31.90, a P/E/G ratio of 1.69 and a beta of 0.99. 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 stock’s 50-day simple moving average is $206.95 and its 200 day simple moving average is $201.42.

Wabtec (NYSE:WAB) last posted its quarterly earnings results on Wednesday, October 22nd. The transportation company reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.04. The firm 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 business’s revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company earned $2.00 earnings per share. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. As a group, sell-side analysts forecast that Wabtec will post 8.54 EPS for the current fiscal year.

Wabtec Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Wednesday, November 12th. Wabtec’s dividend payout ratio (DPR) is 14.53%.

Wabtec 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.