Optas LLC Lowers Stock Position in Wabtec $WAB

Optas LLC reduced its stake in Wabtec (NYSE:WAB) by 41.7% during the second quarter, HoldingsChannel reports. The firm owned 1,147 shares of the transportation company’s stock after selling 819 shares during the period. Optas LLC’s holdings in Wabtec were worth $240,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. ORG Partners LLC raised its stake in Wabtec by 25.8% in the second quarter. ORG Partners LLC now owns 512 shares of the transportation company’s stock valued at $107,000 after purchasing an additional 105 shares in the last quarter. Parallel Advisors LLC raised its stake in Wabtec by 5.7% in the second quarter. Parallel Advisors LLC now owns 2,147 shares of the transportation company’s stock valued at $450,000 after purchasing an additional 115 shares in the last quarter. Kathmere Capital Management LLC purchased a new stake in Wabtec in the second quarter valued at approximately $263,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Wabtec by 11.7% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,649 shares of the transportation company’s stock valued at $4,532,000 after purchasing an additional 2,268 shares in the last quarter. Finally, Covea Finance raised its stake in Wabtec by 2.8% in the second quarter. Covea Finance now owns 115,948 shares of the transportation company’s stock valued at $24,274,000 after purchasing an additional 3,200 shares in the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Wall Street Zen cut shares of Wabtec from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. JPMorgan Chase & Co. reduced their price target on shares of Wabtec from $216.00 to $200.00 and set a “neutral” rating on the stock in a research report on Thursday, August 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of Wabtec in a research report on Wednesday. Susquehanna increased their price target on shares of Wabtec from $210.00 to $235.00 and gave the company a “positive” rating in a research report on Friday, July 25th. Finally, KeyCorp reiterated an “overweight” rating and set a $240.00 price target (up from $220.00) on shares of Wabtec in a research report on Tuesday, June 24th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $222.88.

Insider Activity

In other news, CEO Rafael Santana sold 1,799 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $189.97, for a total value of $341,756.03. Following the transaction, the chief executive officer owned 136,729 shares in the company, valued at approximately $25,974,408.13. This trade represents a 1.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 4,483 shares of company stock valued at $853,558 in the last quarter. 1.10% of the stock is currently owned by company insiders.

Wabtec Stock Down 2.0%

Shares of Wabtec stock opened at $195.41 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.76. Wabtec has a 52-week low of $151.81 and a 52-week high of $216.10. The stock has a market capitalization of $33.41 billion, a price-to-earnings ratio of 29.17, a P/E/G ratio of 1.55 and a beta of 1.10. The company’s 50 day moving average price is $192.89 and its 200-day moving average price is $194.36.

Wabtec (NYSE:WAB) last issued its earnings results on Thursday, July 24th. The transportation company reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.09. Wabtec had a net margin of 10.92% and a return on equity of 13.65%. The firm had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.76 billion. During the same quarter last year, the business earned $1.96 earnings per share. The business’s revenue was up 2.3% on a year-over-year basis. Wabtec has set its FY 2025 guidance at 8.550-9.150 EPS. Equities research analysts forecast that Wabtec will post 8.54 EPS for the current year.

Wabtec Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were issued a $0.25 dividend. The ex-dividend date was Thursday, August 14th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Wabtec’s dividend payout ratio (DPR) is currently 14.93%.

Wabtec Company Profile

Westinghouse Air Brake Technologies Corporation, together with its subsidiaries, provides technology-based locomotives, equipment, systems, and services for the freight rail and passenger transit industries worldwide. It offers diesel-electric, battery, and liquid natural gas-powered locomotives; engines, electric motors, and propulsion systems; and marine and mining products.