Howard Capital Management Inc. Invests $2.90 Million in Wabtec $WAB

Howard Capital Management Inc. bought a new position in shares of Wabtec (NYSE:WAB) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,853 shares of the transportation company’s stock, valued at approximately $2,900,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. ST Germain D J Co. Inc. grew its holdings in Wabtec by 30.2% during the 2nd quarter. ST Germain D J Co. Inc. now owns 207 shares of the transportation company’s stock worth $43,000 after acquiring an additional 48 shares in the last quarter. PFS Partners LLC lifted its position in shares of Wabtec by 70.4% during the 2nd quarter. PFS Partners LLC now owns 121 shares of the transportation company’s stock worth $25,000 after purchasing an additional 50 shares during the last quarter. Trust Co. of Vermont grew its stake in shares of Wabtec by 44.2% during the second quarter. Trust Co. of Vermont now owns 163 shares of the transportation company’s stock worth $34,000 after purchasing an additional 50 shares in the last quarter. CVA Family Office LLC grew its stake in shares of Wabtec by 7.9% during the second quarter. CVA Family Office LLC now owns 748 shares of the transportation company’s stock worth $157,000 after purchasing an additional 55 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in Wabtec by 22.2% in the second quarter. UMB Bank n.a. now owns 358 shares of the transportation company’s stock valued at $75,000 after buying an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Analyst Ratings Changes

WAB has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wabtec in a report on Wednesday, October 8th. Citigroup began coverage on Wabtec in a research note on Monday, September 22nd. They set a “buy” rating and a $225.00 target price for the company. Susquehanna upped their price target on Wabtec from $235.00 to $240.00 and gave the company a “positive” rating in a report on Thursday. JPMorgan Chase & Co. increased their price target on shares of Wabtec from $200.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Finally, Bank of America boosted their price objective on shares of Wabtec from $231.00 to $236.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Seven 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 stock has a consensus rating of “Moderate Buy” and a consensus target price of $225.38.

Wabtec Trading Up 1.4%

NYSE:WAB opened at $200.35 on Tuesday. The company has a market capitalization of $34.25 billion, a PE ratio of 29.12, a P/E/G ratio of 1.52 and a beta of 1.10. Wabtec has a 52-week low of $151.81 and a 52-week high of $216.10. The stock’s 50 day moving average price is $194.27 and its 200 day moving average price is $196.27. The company has a quick ratio of 0.75, a current ratio of 1.42 and a debt-to-equity ratio of 0.45.

Wabtec (NYSE:WAB) last issued its quarterly earnings data on Wednesday, October 22nd. The transportation company reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.04. The company had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.88 billion. Wabtec had a return on equity of 13.84% and a net margin of 10.94%.The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.00 earnings per share. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. On average, research analysts anticipate that Wabtec will post 8.54 EPS for the current year.

Wabtec Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, November 12th. Wabtec’s dividend payout ratio (DPR) is presently 14.53%.

Insiders Place Their Bets

In related news, EVP Gregory Sbrocco sold 2,953 shares of the business’s stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of $195.43, for a total value of $577,104.79. Following the transaction, the executive vice president owned 17,829 shares in the company, valued at $3,484,321.47. The trade was a 14.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Rafael Santana sold 1,799 shares of the company’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 value of $341,756.03. Following the sale, the chief executive officer directly owned 136,729 shares of the company’s stock, valued at approximately $25,974,408.13. This represents a 1.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,234 shares of company stock worth $1,781,345. 1.10% of the stock is currently owned by company insiders.

Wabtec Company Profile

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.