Fulton Bank N.A. Sells 355 Shares of Wabtec $WAB

Fulton Bank N.A. reduced its position in shares of Wabtec (NYSE:WAB) by 2.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,340 shares of the transportation company’s stock after selling 355 shares during the quarter. Fulton Bank N.A.’s holdings in Wabtec were worth $3,002,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Voya Investment Management LLC raised its holdings in Wabtec by 5.5% during the 1st quarter. Voya Investment Management LLC now owns 104,860 shares of the transportation company’s stock valued at $19,016,000 after buying an additional 5,423 shares during the last quarter. New York State Common Retirement Fund raised its holdings in Wabtec by 16.0% in the 1st quarter. New York State Common Retirement Fund now owns 142,163 shares of the transportation company’s stock worth $25,781,000 after purchasing an additional 19,600 shares in the last quarter. Raiffeisen Bank International AG raised its holdings in Wabtec by 159.0% in the 1st quarter. Raiffeisen Bank International AG now owns 16,561 shares of the transportation company’s stock worth $3,011,000 after purchasing an additional 10,168 shares in the last quarter. Putney Financial Group LLC bought a new position in Wabtec in the 4th quarter worth $52,000. Finally, BNP Paribas Financial Markets raised its holdings in Wabtec by 46.0% in the 1st quarter. BNP Paribas Financial Markets now owns 380,793 shares of the transportation company’s stock worth $69,057,000 after purchasing an additional 120,057 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Wabtec news, CEO Rafael Santana sold 1,798 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $189.63, for a total transaction of $340,954.74. Following the sale, the chief executive officer owned 134,931 shares in the company, valued at approximately $25,586,965.53. This trade represents a 1.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have sold 5,369 shares of company stock worth $1,042,586. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

WAB has been the subject of several research reports. JPMorgan Chase & Co. decreased their price objective on shares of Wabtec from $216.00 to $200.00 and set a “neutral” rating for the company in a report on Thursday, August 14th. Wall Street Zen lowered shares of Wabtec from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Bank of America increased their price target on shares of Wabtec from $231.00 to $236.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Susquehanna lifted their price target on shares of Wabtec from $210.00 to $235.00 and gave the company a “positive” rating in a research report on Friday, July 25th. Finally, Morgan Stanley lifted their price target on shares of Wabtec from $220.00 to $226.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $222.57.

Wabtec Price Performance

Shares of NYSE:WAB opened at $185.54 on Thursday. The firm’s 50 day moving average price is $195.89 and its 200-day moving average price is $192.59. Wabtec has a twelve month low of $151.81 and a twelve month high of $216.10. The company has a quick ratio of 1.05, a current ratio of 1.76 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $31.72 billion, a PE ratio of 27.69, a price-to-earnings-growth ratio of 1.49 and a beta of 1.11.

Wabtec (NYSE:WAB) last released its earnings results on Thursday, July 24th. The transportation company reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $2.18 by $0.09. Wabtec had a net margin of 10.92% and a return on equity of 13.65%. The company had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.76 billion. During the same quarter last year, the business earned $1.96 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. Wabtec has set its FY 2025 guidance at 8.550-9.150 EPS. Equities research analysts expect that Wabtec will post 8.54 EPS for the current year.

Wabtec Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, August 14th. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. Wabtec’s dividend payout ratio (DPR) is presently 14.93%.

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.