Wabtec $WAB Stock Sold by Vantage Investment Partners LLC

Vantage Investment Partners LLC trimmed its holdings in Wabtec (NYSE:WAB) by 19.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 162,609 shares of the transportation company’s stock after selling 39,652 shares during the period. Wabtec comprises about 2.8% of Vantage Investment Partners LLC’s portfolio, making the stock its 13th largest holding. Vantage Investment Partners LLC’s holdings in Wabtec were worth $46,698,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of WAB. Conning Inc. purchased a new stake in shares of Wabtec during the 3rd quarter valued at about $211,000. Generali Asset Management SPA SGR grew its stake in shares of Wabtec by 419.3% in the third quarter. Generali Asset Management SPA SGR now owns 1,537 shares of the transportation company’s stock worth $441,000 after acquiring an additional 1,241 shares during the period. Asset Management One Co. Ltd. raised its holdings in shares of Wabtec by 0.4% during the third quarter. Asset Management One Co. Ltd. now owns 112,847 shares of the transportation company’s stock valued at $32,407,000 after purchasing an additional 473 shares during the last quarter. Latitude Advisors LLC purchased a new position in shares of Wabtec during the third quarter valued at approximately $26,000. Finally, Ashton Thomas Securities LLC bought a new position in Wabtec during the third quarter valued at approximately $265,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Insider Transactions at Wabtec

In other news, EVP Gregory Sbrocco sold 952 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $300.00, for a total transaction of $285,600.00. Following the completion of the sale, the executive vice president owned 21,043 shares of the company’s stock, valued at $6,312,900. The trade was a 4.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 sale, the insider directly owned 37,380 shares of the company’s stock, valued at approximately $10,960,563.60. The trade was a 8.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 6,452 shares of company stock worth $1,903,524 in the last 90 days. 0.57% of the stock is currently owned by insiders.

Wabtec Price Performance

Shares of NYSE:WAB opened at $282.22 on Thursday. The company has a quick ratio of 0.56, a current ratio of 1.10 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $47.36 billion, a PE ratio of 35.06, a price-to-earnings-growth ratio of 1.53 and a beta of 0.92. The firm’s 50 day moving average price is $285.98 and its 200-day moving average price is $267.09. Wabtec has a twelve month low of $194.93 and a twelve month high of $306.64.

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

Wabtec Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WAB. Rothschild & Co Redburn dropped their target price 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. Wells Fargo & Company boosted their target price on shares of Wabtec from $284.00 to $315.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. Weiss Ratings raised Wabtec from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday. Jefferies Financial Group increased their price target on Wabtec from $315.00 to $350.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Finally, Citigroup dropped their price target on Wabtec from $338.00 to $334.00 and set a “buy” rating on the stock in a research note on Thursday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company 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.