Burney Co. Increases Stock Holdings in Wabtec $WAB

Burney Co. grew its stake in shares of Wabtec (NYSE:WAB) by 1.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,388 shares of the transportation company’s stock after purchasing an additional 550 shares during the quarter. Burney Co.’s holdings in Wabtec were worth $6,571,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of WAB. Pacer Advisors Inc. raised its stake in Wabtec by 2,220.1% during the 1st quarter. Pacer Advisors Inc. now owns 738,038 shares of the transportation company’s stock worth $133,843,000 after acquiring an additional 706,227 shares in the last quarter. Nordea Investment Management AB boosted its stake in Wabtec by 33.4% in the second quarter. Nordea Investment Management AB now owns 1,592,529 shares of the transportation company’s stock valued at $333,062,000 after acquiring an additional 398,782 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Wabtec by 56.3% during the second quarter. Robeco Institutional Asset Management B.V. now owns 778,156 shares of the transportation company’s stock worth $162,907,000 after purchasing an additional 280,140 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in shares of Wabtec during the second quarter worth about $32,547,000. Finally, Strs Ohio increased its position in shares of Wabtec by 179.4% during the second quarter. Strs Ohio now owns 200,923 shares of the transportation company’s stock worth $42,063,000 after purchasing an additional 129,023 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on WAB. JPMorgan Chase & Co. upped their target price on Wabtec from $200.00 to $215.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. Susquehanna raised their target price on shares of Wabtec from $235.00 to $240.00 and gave the stock a “positive” rating in a research report on Thursday, October 23rd. Morgan Stanley lifted their target price on shares of Wabtec from $220.00 to $226.00 and gave the company an “overweight” rating in a report on Monday, July 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of Wabtec in a research note on Wednesday, October 8th. Finally, Citigroup initiated coverage on shares of Wabtec in a research report on Monday, September 22nd. They set a “buy” rating and a $225.00 price objective on the stock. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.38.

Insider Buying and Selling

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 stock was sold at an average price of $189.97, for a total value of $341,756.03. Following the completion of the sale, the chief executive officer directly owned 136,729 shares of the company’s stock, valued at $25,974,408.13. This trade represents a 1.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gregory Sbrocco sold 2,953 shares of Wabtec stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $195.43, for a total value of $577,104.79. Following the completion of the sale, the executive vice president owned 17,829 shares in the company, valued at approximately $3,484,321.47. This trade represents a 14.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 11,334 shares of company stock valued at $2,201,072 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Wabtec Price Performance

Wabtec stock opened at $204.82 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.75. The business has a 50 day simple moving average of $194.97 and a 200-day simple moving average of $197.30. Wabtec has a 12 month low of $151.81 and a 12 month high of $216.10. The stock has a market capitalization of $35.01 billion, a PE ratio of 29.77, a price-to-earnings-growth ratio of 1.55 and a beta of 1.10.

Wabtec (NYSE:WAB) last announced its quarterly earnings data on Wednesday, October 22nd. The transportation company reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.04. The company had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.88 billion. Wabtec had a net margin of 10.94% and a return on equity of 13.84%. Wabtec’s revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.00 EPS. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. Equities analysts predict that Wabtec will post 8.54 earnings per share for the current year.

Wabtec Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Wednesday, November 12th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, November 12th. Wabtec’s dividend payout ratio is currently 14.53%.

About Wabtec

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.