Asahi Life Asset Management CO. LTD. Buys Shares of 1,860 Wabtec $WAB

Asahi Life Asset Management CO. LTD. bought a new stake in shares of Wabtec (NYSE:WAB) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,860 shares of the transportation company’s stock, valued at approximately $389,000.

Several other large investors have also modified their holdings of the business. ST Germain D J Co. Inc. boosted its position in shares of Wabtec by 30.2% during the second quarter. ST Germain D J Co. Inc. now owns 207 shares of the transportation company’s stock valued at $43,000 after buying an additional 48 shares during the period. PFS Partners LLC boosted its position in shares of Wabtec by 70.4% during the second quarter. PFS Partners LLC now owns 121 shares of the transportation company’s stock valued at $25,000 after buying an additional 50 shares during the period. Trust Co. of Vermont boosted its position in shares of Wabtec by 44.2% during the second quarter. Trust Co. of Vermont now owns 163 shares of the transportation company’s stock valued at $34,000 after buying an additional 50 shares during the period. CVA Family Office LLC boosted its position in shares of Wabtec by 7.9% during the second quarter. CVA Family Office LLC now owns 748 shares of the transportation company’s stock valued at $157,000 after buying an additional 55 shares during the period. Finally, Premier Path Wealth Partners LLC boosted its position in shares of Wabtec by 3.5% during the second quarter. Premier Path Wealth Partners LLC now owns 1,623 shares of the transportation company’s stock valued at $340,000 after buying an additional 55 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WAB. Weiss Ratings reiterated a “buy (b)” rating on shares of Wabtec in a report on Wednesday, October 8th. Citigroup began coverage on Wabtec in a report on Monday, September 22nd. They issued a “buy” rating and a $225.00 price target for the company. Susquehanna boosted their price target on Wabtec from $235.00 to $240.00 and gave the company a “positive” rating in a report on Thursday, October 23rd. Wall Street Zen lowered Wabtec from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Morgan Stanley boosted their price target on Wabtec from $220.00 to $226.00 and gave the company an “overweight” rating in a report on Monday, July 28th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.38.

Wabtec Stock Performance

Shares of NYSE:WAB opened at $205.82 on Thursday. The company has a market capitalization of $35.19 billion, a price-to-earnings ratio of 29.92, a price-to-earnings-growth ratio of 1.55 and a beta of 1.10. Wabtec has a 52 week low of $151.81 and a 52 week high of $216.10. The company has a quick ratio of 0.75, a current ratio of 1.42 and a debt-to-equity ratio of 0.45. The firm has a 50 day moving average of $195.59 and a 200 day moving average of $197.84.

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

Wabtec Dividend Announcement

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

Insider Transactions at Wabtec

In other news, VP David L. Deninno sold 2,100 shares of the company’s stock in a transaction on Tuesday, October 28th. The stock was sold at an average price of $199.87, for a total transaction of $419,727.00. Following the transaction, the vice president directly owned 60,450 shares of the company’s stock, valued at approximately $12,082,141.50. This represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Rafael Santana sold 1,799 shares of the company’s stock in a transaction 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 transaction, the chief executive officer directly owned 136,729 shares in the company, valued at approximately $25,974,408.13. The trade was a 1.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 15,556 shares of company stock valued at $3,061,101. Corporate insiders own 1.10% of the company’s stock.

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.