Brokerages Set Wabtec (NYSE:WAB) PT at $225.38

Shares of Wabtec (NYSE:WAB) have earned a consensus recommendation of “Moderate Buy” from the nine analysts that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $225.3750.

A number of analysts recently commented on the company. Susquehanna lifted their price objective on Wabtec from $235.00 to $240.00 and gave the stock a “positive” rating in a research report on Thursday, October 23rd. Morgan Stanley lifted their price target on shares of Wabtec from $220.00 to $226.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. 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 objective for the company. Weiss Ratings restated a “buy (b)” rating on shares of Wabtec in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. increased their price target on Wabtec from $200.00 to $215.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th.

Insider Buying and Selling at Wabtec

In other news, EVP Gregory Sbrocco sold 2,424 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $203.77, for a total transaction of $493,938.48. Following the completion of the transaction, the executive vice president owned 15,405 shares of the company’s stock, valued at $3,139,076.85. This represents a 13.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP David L. Deninno sold 2,100 shares of the stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $199.87, for a total transaction of $419,727.00. Following the transaction, the vice president owned 60,450 shares in the company, valued at approximately $12,082,141.50. The trade was a 3.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 15,556 shares of company stock worth $3,061,101 in the last 90 days. 1.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Wabtec

Hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Wabtec during the 2nd quarter worth $347,194,000. Pacer Advisors Inc. grew its position in Wabtec by 2,220.1% during the first quarter. Pacer Advisors Inc. now owns 738,038 shares of the transportation company’s stock valued at $133,843,000 after acquiring an additional 706,227 shares during the period. Qube Research & Technologies Ltd acquired a new stake in Wabtec during the second quarter worth about $121,612,000. Aviva PLC raised its holdings in shares of Wabtec by 7,960.0% in the 2nd quarter. Aviva PLC now owns 527,685 shares of the transportation company’s stock worth $110,471,000 after purchasing an additional 521,138 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Wabtec by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 19,930,893 shares of the transportation company’s stock valued at $4,172,532,000 after purchasing an additional 493,437 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Wabtec Trading Down 1.1%

Shares of Wabtec stock opened at $203.80 on Tuesday. Wabtec has a 1 year low of $151.81 and a 1 year high of $216.10. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.75. The business has a 50 day moving average price of $195.77 and a 200 day moving average price of $197.88. The company has a market capitalization of $34.84 billion, a P/E ratio of 29.62, a P/E/G ratio of 1.55 and a beta of 1.09.

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

Wabtec Dividend Announcement

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

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.