Wabtec $WAB Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC grew its stake in Wabtec (NYSE:WAB) by 9.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,113 shares of the transportation company’s stock after purchasing an additional 345 shares during the period. GAMMA Investing LLC’s holdings in Wabtec were worth $861,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Pacer Advisors Inc. grew its position in Wabtec by 2,220.1% in the 1st quarter. Pacer Advisors Inc. now owns 738,038 shares of the transportation company’s stock valued at $133,843,000 after buying an additional 706,227 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Wabtec by 46.0% during the first quarter. BNP Paribas Financial Markets now owns 380,793 shares of the transportation company’s stock worth $69,057,000 after acquiring an additional 120,057 shares during the period. Rhumbline Advisers raised its holdings in Wabtec by 3.0% during the first quarter. Rhumbline Advisers now owns 313,459 shares of the transportation company’s stock worth $56,846,000 after purchasing an additional 9,041 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in Wabtec in the second quarter valued at about $32,547,000. Finally, New York State Common Retirement Fund boosted 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 valued at $25,781,000 after purchasing an additional 19,600 shares in the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Wabtec

In other news, CEO Rafael Santana sold 1,799 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $189.97, for a total transaction of $341,756.03. Following the completion of the transaction, the chief executive officer directly owned 136,729 shares of the company’s stock, valued at $25,974,408.13. This trade represents a 1.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 5,369 shares of company stock worth $1,042,586. Company insiders own 1.10% of the company’s stock.

Wabtec Stock Down 1.8%

WAB opened at $194.33 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.76. The company has a market cap of $33.22 billion, a price-to-earnings ratio of 29.00, a PEG ratio of 1.57 and a beta of 1.11. Wabtec has a one year low of $151.81 and a one year high of $216.10. The business’s fifty day moving average is $194.30 and its two-hundred day moving average is $193.06.

Wabtec (NYSE:WAB) last released its quarterly earnings results on Thursday, July 24th. The transportation company reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.09. Wabtec had a return on equity of 13.65% and a net margin of 10.92%.The business had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter in the previous year, the company posted $1.96 EPS. The business’s revenue was up 2.3% on a year-over-year basis. Wabtec has set its FY 2025 guidance at 8.550-9.150 EPS. Analysts anticipate that Wabtec will post 8.54 EPS for the current fiscal year.

Wabtec Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were given a $0.25 dividend. The ex-dividend date was Thursday, August 14th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Wabtec’s dividend payout ratio is currently 14.93%.

Analysts Set New Price Targets

WAB has been the subject of several recent analyst reports. Susquehanna raised their price target on Wabtec from $210.00 to $235.00 and gave the company a “positive” rating in a report on Friday, July 25th. JPMorgan Chase & Co. cut their price objective on Wabtec from $216.00 to $200.00 and set a “neutral” rating for the company in a research report on Thursday, August 14th. Bank of America raised their target price on Wabtec from $231.00 to $236.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. KeyCorp reaffirmed an “overweight” rating and set a $240.00 price target (up from $220.00) on shares of Wabtec in a research note on Tuesday, June 24th. Finally, Wall Street Zen downgraded shares of Wabtec from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $222.88.

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.