Wabtec $WAB Shares Purchased by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC lifted its holdings in Wabtec (NYSE:WAB) by 14,610.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,795 shares of the transportation company’s stock after purchasing an additional 2,776 shares during the period. Provenance Wealth Advisors LLC’s holdings in Wabtec were worth $803,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Putney Financial Group LLC bought a new stake in Wabtec during the third quarter valued at approximately $57,000. Integrity Alliance LLC. purchased a new stake in Wabtec during the third quarter valued at approximately $307,000. Aware Super Pty Ltd as trustee of Aware Super bought a new position in Wabtec in the third quarter worth approximately $505,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Wabtec in the third quarter worth approximately $12,907,000. Finally, ProShare Advisors LLC raised its position in Wabtec by 0.7% in the third quarter. ProShare Advisors LLC now owns 26,213 shares of the transportation company’s stock worth $7,528,000 after acquiring an additional 185 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Insider Transactions at Wabtec

In related news, insider Michael Fetsko sold 3,250 shares of Wabtec stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $293.22, for a total transaction of $952,965.00. Following the transaction, the insider owned 37,380 shares in the company, valued at approximately $10,960,563.60. The trade was a 8.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gregory Sbrocco sold 952 shares of Wabtec stock in a transaction on Monday, August 17th. The shares were sold at an average price of $300.00, for a total transaction of $285,600.00. Following the transaction, the executive vice president owned 21,043 shares in the company, valued at approximately $6,312,900. This trade represents 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 sold a total of 5,289 shares of company stock valued at $1,555,741 over the last three months. Corporate insiders own 0.57% of the company’s stock.

Wabtec Trading Up 1.0%

Shares of NYSE:WAB opened at $294.70 on Thursday. The stock has a 50 day moving average of $285.20 and a 200 day moving average of $268.62. The company has a market cap of $49.45 billion, a PE ratio of 36.61, a price-to-earnings-growth ratio of 1.63 and a beta of 0.93. Wabtec has a 12-month low of $194.93 and a 12-month high of $306.64. 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 released its earnings results on Wednesday, October 21st. The transportation company reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.73 by $0.10. Wabtec had a net margin of 11.20% and a return on equity of 15.72%. The company had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.20 billion. During the same quarter last year, the business earned $2.32 EPS. The firm’s revenue was up 8.1% compared to the same quarter last year. As a group, equities research analysts expect that Wabtec will post 10.97 EPS for the current year.

Wabtec Announces Dividend

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

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Wabtec from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, October 26th. KeyCorp upped their price objective on Wabtec from $308.00 to $340.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Wall Street Zen cut Wabtec from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. JPMorgan Chase & Co. raised their target price on Wabtec from $315.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday, September 21st. Finally, Wells Fargo & Company lifted their target price on Wabtec from $284.00 to $315.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $320.18.

About Wabtec

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.