Kinsale Capital Group Inc. Purchases 3,200 Shares of Wabtec $WAB

Kinsale Capital Group Inc. lifted its holdings in Wabtec (NYSE:WAB) by 7.0% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 49,173 shares of the transportation company’s stock after acquiring an additional 3,200 shares during the quarter. Wabtec accounts for about 1.8% of Kinsale Capital Group Inc.’s holdings, making the stock its 22nd biggest holding. Kinsale Capital Group Inc.’s holdings in Wabtec were worth $9,858,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Azzad Asset Management Inc. ADV lifted its stake in Wabtec by 17.4% in the third quarter. Azzad Asset Management Inc. ADV now owns 5,899 shares of the transportation company’s stock worth $1,183,000 after purchasing an additional 876 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Wabtec by 14.8% in the third quarter. Smartleaf Asset Management LLC now owns 6,474 shares of the transportation company’s stock worth $1,279,000 after buying an additional 837 shares during the period. Prime Capital Investment Advisors LLC lifted its stake in shares of Wabtec by 1.9% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 4,109 shares of the transportation company’s stock valued at $824,000 after acquiring an additional 78 shares during the last quarter. Gallacher Capital Management LLC purchased a new stake in Wabtec during the 3rd quarter valued at about $304,000. Finally, Optimize Financial Inc grew its position in Wabtec by 34.4% during the 3rd quarter. Optimize Financial Inc now owns 1,632 shares of the transportation company’s stock worth $327,000 after acquiring an additional 418 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on WAB shares. Wells Fargo & Company increased their price objective on Wabtec from $221.00 to $224.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 17th. Morgan Stanley upped their price target on shares of Wabtec from $257.00 to $264.00 and gave the company an “overweight” rating in a report on Monday, January 12th. Weiss Ratings reissued a “buy (b)” rating on shares of Wabtec in a report on Wednesday, January 21st. Susquehanna upped their price objective on shares of Wabtec from $240.00 to $280.00 and gave the company a “positive” rating in a research note on Monday, January 26th. Finally, Bank of America increased their target price on shares of Wabtec from $228.00 to $233.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $241.00.

Insider Buying and Selling at Wabtec

In other Wabtec news, VP David L. Deninno sold 5,000 shares of the business’s stock in a transaction 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 sale, the vice president directly owned 50,450 shares in the company, valued at approximately $10,827,579. The trade was a 9.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO John A. Mastalerz, Jr. sold 2,766 shares of the business’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $210.00, for a total value of $580,860.00. Following the sale, the chief accounting officer owned 5,286 shares of the company’s stock, valued at approximately $1,110,060. This represents a 34.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 24,641 shares of company stock worth $5,233,559. 1.10% of the stock is owned by company insiders.

Wabtec Stock Up 2.7%

WAB stock opened at $246.56 on Friday. Wabtec has a twelve month low of $151.81 and a twelve month high of $246.68. The company has a quick ratio of 0.75, a current ratio of 1.42 and a debt-to-equity ratio of 0.45. The firm has a market cap of $42.15 billion, a PE ratio of 35.84, a price-to-earnings-growth ratio of 1.68 and a beta of 1.01. The business has a 50 day moving average of $222.44 and a 200 day moving average of $205.53.

About Wabtec

Wabtec Corporation (Westinghouse Air Brake Technologies Corporation) is a global provider of equipment, systems and services for the rail industry. The company supplies products and solutions to freight railroads, transit agencies and other industrial operators, focusing on technologies that improve the performance, safety and efficiency of locomotives and rail networks. Wabtec’s business spans new equipment manufacturing, aftermarket parts and services, and digital and control systems for rail operations.

Product and service offerings include locomotive systems and components, braking and air systems, propulsion and traction equipment, signaling and control technologies, and a range of aftermarket services such as maintenance, remanufacturing, parts distribution and fleet modernization.