Virtus Investment Advisers LLC Buys 604 Shares of Wabtec $WAB

Virtus Investment Advisers LLC raised its holdings in shares of Wabtec (NYSE:WAB) by 8.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,530 shares of the transportation company’s stock after purchasing an additional 604 shares during the quarter. Virtus Investment Advisers LLC’s holdings in Wabtec were worth $1,576,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Raiffeisen Bank International AG raised its position in shares of Wabtec by 159.0% in the first quarter. Raiffeisen Bank International AG now owns 16,561 shares of the transportation company’s stock worth $3,011,000 after buying an additional 10,168 shares in the last quarter. iA Global Asset Management Inc. raised its stake in shares of Wabtec by 4.7% during the first quarter. iA Global Asset Management Inc. now owns 17,907 shares of the transportation company’s stock worth $3,247,000 after acquiring an additional 812 shares in the last quarter. Forsta AP Fonden lifted its stake in Wabtec by 40.4% in the first quarter. Forsta AP Fonden now owns 69,800 shares of the transportation company’s stock worth $12,658,000 after purchasing an additional 20,100 shares during the last quarter. AGF Management Ltd. boosted its holdings in Wabtec by 11.9% during the 1st quarter. AGF Management Ltd. now owns 62,352 shares of the transportation company’s stock valued at $11,308,000 after acquiring an additional 6,623 shares during the period. Finally, Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in shares of Wabtec by 3.2% during the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 66,188 shares of the transportation company’s stock valued at $12,004,000 after purchasing an additional 2,044 shares during the period. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Wabtec Stock Up 0.8%

Shares of NYSE:WAB opened at $207.81 on Friday. 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 business’s 50 day moving average is $199.67 and its 200 day moving average is $199.82. The stock has a market cap of $35.53 billion, a P/E ratio of 30.20, a price-to-earnings-growth ratio of 1.55 and a beta of 1.09. Wabtec has a 52-week low of $151.81 and a 52-week high of $216.10.

Wabtec (NYSE:WAB) last posted its quarterly earnings data on Wednesday, October 22nd. The transportation company reported $2.32 EPS for the quarter, topping the consensus estimate of $2.28 by $0.04. The firm had revenue of $2.89 billion during 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%. Wabtec’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.00 EPS. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. Sell-side analysts predict that Wabtec will post 8.54 EPS for the current year.

Wabtec Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Wednesday, November 12th. Wabtec’s dividend payout ratio (DPR) is presently 14.53%.

Analyst Ratings Changes

A number of equities analysts recently commented on WAB shares. Susquehanna upped their target price on Wabtec from $235.00 to $240.00 and gave the company a “positive” rating in a report on Thursday, October 23rd. Citigroup raised their price target on shares of Wabtec from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, November 14th. Weiss Ratings reissued a “buy (b)” rating on shares of Wabtec in a report on Wednesday, October 8th. JPMorgan Chase & Co. raised their price objective on shares of Wabtec from $200.00 to $215.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. Finally, Bank of America raised their target price on shares of Wabtec from $228.00 to $233.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $226.78.

Insider Buying and Selling at Wabtec

In related news, CEO Rafael Santana sold 1,799 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $189.97, for a total transaction of $341,756.03. Following the completion of the transaction, the chief executive officer owned 136,729 shares in the company, valued at $25,974,408.13. This represents a 1.30% 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, CAO John A. Mastalerz, Jr. sold 2,766 shares of Wabtec stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $210.00, for a total transaction of $580,860.00. Following the sale, the chief accounting officer directly owned 5,286 shares in the company, valued at approximately $1,110,060. This trade represents a 34.35% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 25,436 shares of company stock worth $5,145,024. 1.10% of the stock is currently owned by corporate insiders.

Wabtec 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.