Mitsubishi UFJ Trust & Banking Corp Buys 111,582 Shares of Wabtec $WAB

Mitsubishi UFJ Trust & Banking Corp grew its holdings in Wabtec (NYSE:WAB) by 132.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 195,541 shares of the transportation company’s stock after purchasing an additional 111,582 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.11% of Wabtec worth $40,937,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of WAB. PFS Partners LLC boosted its stake in Wabtec by 70.4% in 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 in the last quarter. Trust Co. of Vermont increased 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 valued at $34,000 after purchasing an additional 50 shares in the last quarter. ST Germain D J Co. Inc. grew its position 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 valued at $43,000 after acquiring an additional 48 shares during the period. Ameritas Advisory Services LLC acquired a new position in shares of Wabtec during the 2nd quarter worth approximately $44,000. Finally, NewSquare Capital LLC increased its stake in shares of Wabtec by 125.3% during the second quarter. NewSquare Capital LLC now owns 223 shares of the transportation company’s stock worth $47,000 after purchasing an additional 124 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.

Wabtec Stock Down 2.7%

Shares of NYSE:WAB opened at $204.01 on Friday. Wabtec has a 52-week low of $151.81 and a 52-week high of $216.10. The company has a market capitalization of $34.88 billion, a P/E ratio of 29.65, a P/E/G ratio of 1.55 and a beta of 1.09. The stock’s fifty day simple moving average is $197.24 and its 200-day simple moving average is $198.90. 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 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 return on equity of 13.84% and a net margin of 10.94%.The firm had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period last year, the company earned $2.00 EPS. The firm’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, equities research analysts forecast that Wabtec will post 8.54 earnings per share for the current fiscal 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 issued 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 payout ratio is currently 14.53%.

Analyst Ratings Changes

WAB has been the subject of a number of recent research reports. Susquehanna increased their price objective on shares of Wabtec from $235.00 to $240.00 and gave the company a “positive” rating in a report on Thursday, October 23rd. Bank of America lifted their price objective on Wabtec from $228.00 to $233.00 and gave the company a “buy” rating in a research note on Thursday. Citigroup assumed coverage on Wabtec in a report on Monday, September 22nd. They issued a “buy” rating and a $225.00 target price for the company. Wall Street Zen cut shares of Wabtec from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Wells Fargo & Company started coverage on shares of Wabtec in a research report on Thursday. They issued a “positive” rating and a $221.00 price target for the company. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Wabtec presently has a consensus rating of “Moderate Buy” and a consensus target price of $224.56.

Insider Activity at Wabtec

In other news, EVP Gregory Sbrocco sold 2,424 shares of the business’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $203.77, for a total value of $493,938.48. Following the completion of the sale, the executive vice president owned 15,405 shares of the company’s stock, valued at approximately $3,139,076.85. The trade was a 13.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Rafael Santana sold 1,798 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $203.61, for a total transaction of $366,090.78. Following the completion of the transaction, the chief executive officer owned 129,537 shares in the company, valued at approximately $26,375,028.57. The trade was a 1.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 18,556 shares of company stock valued at $3,685,311. 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.