ProShare Advisors LLC Sells 2,492 Shares of Wabtec $WAB

ProShare Advisors LLC decreased its holdings in shares of Wabtec (NYSE:WAB) by 7.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,421 shares of the transportation company’s stock after selling 2,492 shares during the quarter. ProShare Advisors LLC’s holdings in Wabtec were worth $6,159,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WAB. PFS Partners LLC boosted its stake 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 buying an additional 50 shares during the last quarter. Trust Co. of Vermont raised its holdings in 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 acquiring an additional 50 shares in the last quarter. ST Germain D J Co. Inc. boosted its position in Wabtec by 30.2% during the second quarter. ST Germain D J Co. Inc. now owns 207 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 48 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in Wabtec in the second quarter valued at approximately $44,000. Finally, NewSquare Capital LLC increased its position in shares of Wabtec by 125.3% during the 2nd quarter. NewSquare Capital LLC now owns 223 shares of the transportation company’s stock worth $47,000 after purchasing an additional 124 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Morgan Stanley increased 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. 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. Citigroup began 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. Wall Street Zen lowered shares of Wabtec from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Wells Fargo & Company initiated coverage on shares of Wabtec in a research note on Thursday. They issued a “positive” rating and a $221.00 target price for the company. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $224.56.

Insider Transactions at Wabtec

In other news, insider Pascal Schweitzer sold 3,000 shares of the stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $208.07, for a total transaction of $624,210.00. Following the transaction, the insider owned 4,955 shares in the company, valued at approximately $1,030,986.85. This trade represents a 37.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP David L. Deninno sold 2,100 shares of Wabtec stock in a transaction that occurred on Tuesday, October 28th. The stock was sold at an average price of $199.87, for a total value of $419,727.00. Following the sale, the vice president directly owned 60,450 shares of the company’s stock, 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 a total of 18,556 shares of company stock worth $3,685,311 over the last three months. Company insiders own 1.10% of the company’s stock.

Wabtec Price Performance

NYSE:WAB opened at $204.01 on Friday. The company has a market cap 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 firm’s fifty day moving average price is $197.24 and its two-hundred day moving average price is $198.90. Wabtec has a one year low of $151.81 and a one 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.

Wabtec (NYSE:WAB) last posted 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 during the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter last year, the company posted $2.00 EPS. Wabtec’s quarterly 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. Equities analysts expect 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. Stockholders of record on Wednesday, November 12th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Wednesday, November 12th. 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.