Resona Asset Management Co. Ltd. Acquires 2,001 Shares of Wabtec $WAB

Resona Asset Management Co. Ltd. increased its holdings in shares of Wabtec (NYSE:WAB) by 3.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 55,584 shares of the transportation company’s stock after acquiring an additional 2,001 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Wabtec were worth $11,622,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. PFS Partners LLC boosted its position in Wabtec by 70.4% during the second quarter. PFS Partners LLC now owns 121 shares of the transportation company’s stock worth $25,000 after purchasing an additional 50 shares during the period. Trust Co. of Vermont lifted its stake in shares of Wabtec by 44.2% during the 2nd quarter. Trust Co. of Vermont now owns 163 shares of the transportation company’s stock worth $34,000 after buying an additional 50 shares during the last quarter. ST Germain D J Co. Inc. boosted its holdings in shares of Wabtec by 30.2% during the 2nd quarter. ST Germain D J Co. Inc. now owns 207 shares of the transportation company’s stock worth $43,000 after buying an additional 48 shares during the period. Ameritas Advisory Services LLC bought a new stake in shares of Wabtec during the 2nd quarter worth about $44,000. Finally, NewSquare Capital LLC grew its stake in Wabtec by 125.3% in the 2nd quarter. NewSquare Capital LLC now owns 223 shares of the transportation company’s stock valued at $47,000 after buying an additional 124 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

Wabtec Trading Up 1.2%

Shares of NYSE:WAB opened at $206.13 on Friday. The company has a market capitalization of $35.24 billion, a P/E ratio of 29.96, a P/E/G ratio of 1.55 and a beta of 1.09. Wabtec has a 1 year low of $151.81 and a 1 year high of $216.10. 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’s 50 day simple moving average is $196.02 and its 200 day simple moving average is $198.15.

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

Wabtec Announces Dividend

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 given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.00 annualized dividend and a yield of 0.5%. Wabtec’s dividend payout ratio is currently 14.53%.

Insiders Place Their Bets

In other news, CEO Rafael Santana sold 1,798 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $203.61, for a total transaction of $366,090.78. Following the completion of the sale, the chief executive officer owned 129,537 shares of the company’s stock, valued at approximately $26,375,028.57. This represents a 1.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Gregory Sbrocco sold 2,424 shares of the stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $203.77, for a total transaction of $493,938.48. Following the sale, the executive vice president owned 15,405 shares in the company, valued at $3,139,076.85. This represents a 13.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 15,556 shares of company stock worth $3,061,101 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

WAB has been the subject of several research reports. Susquehanna raised 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. Morgan Stanley lifted their price target on Wabtec from $220.00 to $226.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. Citigroup started coverage on Wabtec in a research note on Monday, September 22nd. They issued a “buy” rating and a $225.00 price target for the company. JPMorgan Chase & Co. increased their price objective on Wabtec from $200.00 to $215.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Wabtec in a report on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Wabtec presently has an average 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.