Kinsale Capital Group Inc. Raises Position in Wabtec $WAB

Kinsale Capital Group Inc. grew its stake in Wabtec (NYSE:WAB) by 7.8% during the second quarter, Holdings Channel reports. The firm owned 45,973 shares of the transportation company’s stock after purchasing an additional 3,332 shares during the period. Wabtec makes up approximately 2.0% of Kinsale Capital Group Inc.’s portfolio, making the stock its 18th largest position. Kinsale Capital Group Inc.’s holdings in Wabtec were worth $9,625,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Vestmark Advisory Solutions Inc. purchased a new stake in Wabtec in the 2nd quarter valued at $2,235,000. OneAscent Family Office LLC bought a new stake in shares of Wabtec in the 2nd quarter worth $224,000. Twin Capital Management Inc. raised its holdings in shares of Wabtec by 2.9% in the second quarter. Twin Capital Management Inc. now owns 15,741 shares of the transportation company’s stock valued at $3,295,000 after purchasing an additional 448 shares during the last quarter. SouthState Corp raised its holdings in shares of Wabtec by 34.5% in the second quarter. SouthState Corp now owns 604 shares of the transportation company’s stock valued at $126,000 after purchasing an additional 155 shares during the last quarter. Finally, Andra AP fonden lifted its position in shares of Wabtec by 42.4% during the second quarter. Andra AP fonden now owns 89,700 shares of the transportation company’s stock valued at $18,779,000 after purchasing an additional 26,700 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.

Wabtec Price Performance

Wabtec stock opened at $206.13 on Friday. The business’s 50 day simple moving average is $196.02 and its 200 day simple moving average is $198.15. Wabtec has a 12 month low of $151.81 and a 12 month high of $216.10. The company has a market cap of $35.24 billion, a price-to-earnings ratio of 29.96, a PEG ratio of 1.55 and a beta of 1.09. The company has a current ratio of 1.42, a quick ratio of 0.75 and a debt-to-equity ratio of 0.45.

Wabtec (NYSE:WAB) last issued its earnings results 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. Wabtec had a return on equity of 13.84% and a net margin of 10.94%.The firm had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period in the previous year, the company posted $2.00 earnings per share. The business’s revenue was up 8.4% on a year-over-year basis. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. Sell-side analysts forecast that Wabtec will post 8.54 EPS for the current year.

Wabtec Dividend Announcement

The company 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. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Wednesday, November 12th. Wabtec’s payout ratio is currently 14.53%.

Insider Buying and Selling at Wabtec

In other news, EVP Gregory Sbrocco sold 2,424 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $203.77, for a total value of $493,938.48. Following the sale, the executive vice president owned 15,405 shares of the company’s stock, valued at $3,139,076.85. The trade was a 13.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Rafael Santana sold 1,798 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $203.61, for a total transaction of $366,090.78. Following the completion of the transaction, the chief executive officer directly owned 129,537 shares of the company’s stock, valued at approximately $26,375,028.57. This trade represents a 1.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 15,556 shares of company stock valued at $3,061,101 over the last three months. 1.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WAB. Susquehanna upped their price objective 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. JPMorgan Chase & Co. upped their target price on Wabtec from $200.00 to $215.00 and gave the company a “neutral” rating in a report on Tuesday, October 14th. Wall Street Zen downgraded Wabtec from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Morgan Stanley boosted their price objective on Wabtec from $220.00 to $226.00 and gave the stock an “overweight” rating in a research report on Monday, July 28th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Wabtec in a research note on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $225.38.

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.