Teacher Retirement System of Texas Has $6.03 Million Stock Position in Wabtec $WAB

Teacher Retirement System of Texas cut its position in shares of Wabtec (NYSE:WAB) by 64.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,782 shares of the transportation company’s stock after selling 51,427 shares during the period. Teacher Retirement System of Texas’ holdings in Wabtec were worth $6,026,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. PFS Partners LLC boosted its stake in Wabtec by 70.4% during the second quarter. PFS Partners LLC now owns 121 shares of the transportation company’s stock worth $25,000 after buying an additional 50 shares in the last quarter. Trust Co. of Vermont lifted its holdings in shares of Wabtec by 44.2% during the 2nd quarter. Trust Co. of Vermont now owns 163 shares of the transportation company’s stock worth $34,000 after acquiring an additional 50 shares during the period. ST Germain D J Co. Inc. lifted its holdings in shares of 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 during the period. Ameritas Advisory Services LLC bought a new position in shares of Wabtec during the 2nd quarter worth about $44,000. Finally, Harbour Investments Inc. raised its position in Wabtec by 30.9% in the second quarter. Harbour Investments Inc. now owns 309 shares of the transportation company’s stock worth $65,000 after purchasing an additional 73 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors.

Wabtec Stock Up 0.8%

Shares of NYSE:WAB opened at $203.17 on Friday. Wabtec has a 12 month low of $151.81 and a 12 month high of $216.10. The company’s 50-day moving average price is $194.79 and its two-hundred day moving average price is $196.72. The firm has a market cap of $34.73 billion, a P/E ratio of 29.53, a P/E/G ratio of 1.55 and a beta of 1.10. The company has a quick ratio of 0.75, a current ratio of 1.42 and a debt-to-equity ratio of 0.45.

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

Wabtec Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Wall Street Zen lowered shares of Wabtec from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Susquehanna upped their price objective on Wabtec from $235.00 to $240.00 and gave the company a “positive” rating in a research note on Thursday, October 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wabtec in a research note on Wednesday, October 8th. Citigroup assumed coverage on Wabtec in a research note on Monday, September 22nd. They issued a “buy” rating and a $225.00 price target on the stock. Finally, Morgan Stanley lifted their price objective on Wabtec from $220.00 to $226.00 and gave the company an “overweight” rating in a report on Monday, July 28th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $225.38.

Insider Activity

In related news, VP David L. Deninno sold 2,100 shares of the firm’s stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $199.87, for a total value of $419,727.00. Following the transaction, the vice president owned 60,450 shares in the company, valued at $12,082,141.50. This trade represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Rafael Santana sold 1,798 shares of the company’s stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $195.04, for a total transaction of $350,681.92. Following the transaction, the chief executive officer owned 133,133 shares in the company, valued at approximately $25,966,260.32. The trade was a 1.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 11,334 shares of company stock valued at $2,201,072. Company insiders own 1.10% of the company’s stock.

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.