Wabtec (NYSE:WAB) VP David Deninno Sells 5,000 Shares

Wabtec (NYSE:WAB) VP David Deninno sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $214.62, for a total transaction of $1,073,100.00. Following the completion of the transaction, the vice president owned 50,450 shares of the company’s stock, valued at $10,827,579. This trade represents a 9.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Wabtec Trading Up 0.3%

WAB opened at $214.71 on Friday. The stock has a market capitalization of $36.71 billion, a P/E ratio of 31.21, a P/E/G ratio of 1.65 and a beta of 0.99. 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 has a 12 month low of $151.81 and a 12 month high of $216.10. The firm’s fifty day simple moving average is $201.73 and its 200 day simple moving average is $200.11.

Wabtec (NYSE:WAB) last released its quarterly 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. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.88 billion. Wabtec had a return on equity of 13.84% and a net margin of 10.94%.The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the business posted $2.00 EPS. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. As a group, research analysts anticipate that Wabtec will post 8.54 EPS for the current fiscal year.

Wabtec Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th were paid a $0.25 dividend. The ex-dividend date was Wednesday, November 12th. This represents a $1.00 annualized dividend and a yield of 0.5%. Wabtec’s payout ratio is presently 14.53%.

Institutional Investors Weigh In On Wabtec

Several hedge funds have recently bought and sold shares of WAB. Vanguard Group Inc. grew its holdings in Wabtec by 2.5% in the second quarter. Vanguard Group Inc. now owns 19,930,893 shares of the transportation company’s stock worth $4,172,532,000 after purchasing an additional 493,437 shares during the period. Geode Capital Management LLC increased its position in Wabtec by 0.7% in the 2nd quarter. Geode Capital Management LLC now owns 4,288,014 shares of the transportation company’s stock valued at $893,830,000 after buying an additional 30,489 shares in the last quarter. Wellington Management Group LLP increased its position in Wabtec by 3.6% in the 3rd quarter. Wellington Management Group LLP now owns 3,304,183 shares of the transportation company’s stock valued at $662,390,000 after buying an additional 116,329 shares in the last quarter. Boston Partners raised its stake in Wabtec by 1.9% during the 3rd quarter. Boston Partners now owns 2,304,832 shares of the transportation company’s stock worth $462,057,000 after buying an additional 43,376 shares during the period. Finally, Farallon Capital Management LLC boosted its holdings in Wabtec by 68.6% in the third quarter. Farallon Capital Management LLC now owns 2,205,098 shares of the transportation company’s stock worth $442,056,000 after acquiring an additional 896,900 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Wall Street Zen downgraded Wabtec from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Susquehanna boosted 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. Bank of America boosted their price target on shares of Wabtec from $228.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Wells Fargo & Company started coverage on Wabtec in a research report on Thursday, November 13th. They set an “equal weight” rating and a $221.00 price target on the stock. 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 three have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $226.78.

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.