Logan Capital Management Inc. Sells 155 Shares of Wabtec $WAB

Logan Capital Management Inc. decreased its stake in Wabtec (NYSE:WAB) by 2.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,938 shares of the transportation company’s stock after selling 155 shares during the period. Logan Capital Management Inc.’s holdings in Wabtec were worth $1,243,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in WAB. Pacer Advisors Inc. raised its position in Wabtec by 2,220.1% in the first quarter. Pacer Advisors Inc. now owns 738,038 shares of the transportation company’s stock worth $133,843,000 after acquiring an additional 706,227 shares during the period. Nordea Investment Management AB raised its position in Wabtec by 33.4% in the second quarter. Nordea Investment Management AB now owns 1,592,529 shares of the transportation company’s stock worth $333,062,000 after acquiring an additional 398,782 shares during the period. Robeco Institutional Asset Management B.V. raised its position in Wabtec by 56.3% in the second quarter. Robeco Institutional Asset Management B.V. now owns 778,156 shares of the transportation company’s stock worth $162,907,000 after acquiring an additional 280,140 shares during the period. Kingstone Capital Partners Texas LLC bought a new stake in Wabtec in the second quarter worth about $32,547,000. Finally, BNP Paribas Financial Markets raised its position in Wabtec by 46.0% in 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. Institutional investors own 91.69% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on WAB. Susquehanna lifted their price objective on shares of Wabtec from $235.00 to $240.00 and gave the stock a “positive” rating in a research report on Thursday, October 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Wabtec from $200.00 to $215.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Wall Street Zen lowered shares of Wabtec from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Citigroup initiated coverage on shares of Wabtec in a research report on Monday, September 22nd. They issued a “buy” rating and a $225.00 price target on the stock. Finally, Bank of America boosted their price target on shares of Wabtec from $231.00 to $236.00 and gave the company 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 MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $225.38.

Insider Activity at Wabtec

In related news, EVP Gregory Sbrocco sold 2,953 shares of the business’s stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $195.43, for a total transaction of $577,104.79. Following the completion of the transaction, the executive vice president owned 17,829 shares of the company’s stock, valued at approximately $3,484,321.47. The trade was a 14.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Rafael Santana sold 1,799 shares of the business’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 transaction, 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 position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 9,234 shares of company stock valued at $1,781,345. 1.10% of the stock is owned by corporate insiders.

Wabtec Stock Performance

NYSE WAB opened at $198.04 on Wednesday. The company’s 50 day moving average is $194.37 and its 200-day moving average is $196.47. Wabtec has a 12-month low of $151.81 and a 12-month high of $216.10. 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 $33.86 billion, a P/E ratio of 28.78, a price-to-earnings-growth ratio of 1.54 and a beta of 1.10.

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

Wabtec Dividend Announcement

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

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.