Wabtec $WAB Stock Purchased by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. boosted its position in Wabtec (NYSE:WAB) by 11.3% in the third quarter, Holdings Channel.com reports. The firm owned 19,400 shares of the transportation company’s stock after acquiring an additional 1,962 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Wabtec were worth $5,571,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Wabtec in the 2nd quarter valued at approximately $3,741,077,000. Bank of New York Mellon Corp purchased a new position in shares of Wabtec during the 2nd quarter worth approximately $212,692,000. Deutsche Bank AG purchased a new position in shares of Wabtec during the 2nd quarter worth approximately $207,228,000. Junto Capital Management LP acquired a new stake in shares of Wabtec in the 2nd quarter valued at approximately $142,007,000. Finally, Amundi lifted its holdings in shares of Wabtec by 43.9% in the 2nd quarter. Amundi now owns 1,580,919 shares of the transportation company’s stock valued at $426,216,000 after buying an additional 482,323 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Insider Activity

In related news, CEO Rafael Santana sold 1,087 shares of Wabtec stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $291.79, for a total transaction of $317,175.73. Following the completion of the transaction, the chief executive officer directly owned 116,155 shares in the company, valued at $33,892,867.45. The trade was a 0.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gregory Sbrocco sold 952 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $300.00, for a total value of $285,600.00. Following the completion of the sale, the executive vice president directly owned 21,043 shares in the company, valued at approximately $6,312,900. The trade was a 4.33% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,452 shares of company stock worth $1,903,524 over the last ninety days. 0.57% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on WAB shares. Citigroup decreased their price target on Wabtec from $338.00 to $334.00 and set a “buy” rating on the stock in a research note on Thursday, October 22nd. Stephens increased their price objective on Wabtec from $330.00 to $340.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 21st. Rothschild & Co Redburn reduced their target price on Wabtec from $293.00 to $292.00 and set a “buy” rating for the company in a report on Wednesday, July 29th. Wells Fargo & Company raised their target price on Wabtec from $284.00 to $315.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Wabtec from $315.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $320.18.

Wabtec Trading Up 1.2%

Shares of WAB opened at $282.22 on Thursday. Wabtec has a twelve month low of $194.93 and a twelve month high of $306.64. The firm has a market capitalization of $47.36 billion, a P/E ratio of 35.06, a PEG ratio of 1.53 and a beta of 0.92. The firm’s 50-day moving average is $285.98 and its two-hundred day moving average is $267.09. The company has a current ratio of 1.10, a quick ratio of 0.56 and a debt-to-equity ratio of 0.41.

Wabtec (NYSE:WAB) last issued its quarterly earnings data on Wednesday, October 21st. The transportation company reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.73 by $0.10. The firm had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.20 billion. Wabtec had a return on equity of 15.72% and a net margin of 11.20%. Wabtec’s revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.32 earnings per share. On average, research analysts predict that Wabtec will post 10.97 earnings per share for the current fiscal year.

Wabtec Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 17th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, November 17th. Wabtec’s dividend payout ratio is 15.40%.

Wabtec Profile

Westinghouse Air Brake Technologies Corporation, doing business as Wabtec (NYSE: WAB), is a global provider of equipment, systems, digital solutions and services for the freight and passenger rail industries. The company develops technologies intended to improve the safety, efficiency, reliability and sustainability of rail transportation.

Wabtec’s products and services include locomotives, locomotive components and modernization programs, braking systems, train control and signaling equipment, power and propulsion systems, and advanced digital solutions.