Bank of Montreal Can Sells 15,375 Shares of Wabtec $WAB

Bank of Montreal Can cut its stake in shares of Wabtec (NYSE:WAB) by 8.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 159,905 shares of the transportation company’s stock after selling 15,375 shares during the quarter. Bank of Montreal Can’s holdings in Wabtec were worth $33,476,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Sumitomo Mitsui Trust Group Inc. raised its holdings in Wabtec by 8.7% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 439,144 shares of the transportation company’s stock valued at $91,935,000 after acquiring an additional 35,088 shares during the period. Keeler Thomas Management LLC purchased a new stake in shares of Wabtec during the second quarter worth about $1,421,000. Nordea Investment Management AB raised its stake in Wabtec by 33.4% during the 2nd quarter. Nordea Investment Management AB now owns 1,592,529 shares of the transportation company’s stock valued at $333,062,000 after purchasing an additional 398,782 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in Wabtec by 6.1% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 48,066 shares of the transportation company’s stock worth $9,996,000 after purchasing an additional 2,765 shares in the last quarter. Finally, Catalyst Capital Advisors LLC boosted its stake in Wabtec by 1,788.6% in the 2nd quarter. Catalyst Capital Advisors LLC now owns 9,953 shares of the transportation company’s stock worth $2,084,000 after purchasing an additional 9,426 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Wall Street Analyst Weigh In

WAB has been the topic of several recent analyst reports. Susquehanna lifted their price objective on shares of Wabtec from $235.00 to $240.00 and gave the company a “positive” rating in a research report on Thursday, October 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wabtec in a research note on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price target on shares of Wabtec from $200.00 to $215.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. Citigroup started coverage on shares of Wabtec in a report on Monday, September 22nd. They set a “buy” rating and a $225.00 price objective for the company. Finally, Wall Street Zen cut Wabtec from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.38.

Insider Transactions at Wabtec

In other Wabtec news, CEO Rafael Santana sold 1,799 shares of Wabtec stock in a transaction on Friday, September 12th. The shares were sold at an average price of $189.97, for a total transaction of $341,756.03. Following the completion of the transaction, the chief executive officer directly owned 136,729 shares of the company’s stock, valued at $25,974,408.13. The trade was a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David L. Deninno sold 2,100 shares of the stock in a transaction on Tuesday, October 28th. The shares were sold at an average price of $199.87, for a total transaction of $419,727.00. Following the completion of the sale, the vice president directly owned 60,450 shares in the company, valued at approximately $12,082,141.50. This represents a 3.36% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 15,556 shares of company stock worth $3,061,101. 1.10% of the stock is currently owned by company insiders.

Wabtec Price Performance

WAB stock opened at $203.80 on Friday. Wabtec has a 52 week low of $151.81 and a 52 week high of $216.10. The firm has a market capitalization of $34.84 billion, a P/E ratio of 29.62, a price-to-earnings-growth ratio of 1.55 and a beta of 1.09. The company has a fifty day simple moving average of $195.77 and a two-hundred day simple moving average of $197.88. The company has a quick ratio of 0.75, a current ratio of 1.42 and a debt-to-equity ratio of 0.45.

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

Wabtec Announces Dividend

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

Wabtec 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.