Patton Fund Management Inc. Has $3.31 Million Stake in Wabtec $WAB

Patton Fund Management Inc. increased its holdings in shares of Wabtec (NYSE:WAB) by 1,278.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,485 shares of the transportation company’s stock after purchasing an additional 15,289 shares during the quarter. Patton Fund Management Inc.’s holdings in Wabtec were worth $3,305,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Wabtec during the second quarter worth about $347,194,000. Qube Research & Technologies Ltd acquired a new position in Wabtec during the 2nd quarter worth approximately $121,612,000. Aviva PLC grew its stake in shares of Wabtec by 7,960.0% during the 2nd quarter. Aviva PLC now owns 527,685 shares of the transportation company’s stock worth $110,471,000 after acquiring an additional 521,138 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Wabtec by 2.5% in the second 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 during the last quarter. Finally, Amundi lifted its position in shares of Wabtec by 36.8% in the second quarter. Amundi now owns 1,614,789 shares of the transportation company’s stock worth $345,371,000 after purchasing an additional 434,401 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WAB. Wells Fargo & Company lifted their price target on shares of Wabtec from $221.00 to $224.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 17th. Susquehanna raised their price target on Wabtec from $235.00 to $240.00 and gave the company a “positive” rating in a research note on Thursday, October 23rd. JPMorgan Chase & Co. upped their price objective on Wabtec from $200.00 to $215.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. Bank of America raised their target price on shares of Wabtec from $228.00 to $233.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wabtec in a research report on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $227.11.

Insider Buying and Selling at Wabtec

In other news, VP David L. Deninno sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $214.62, for a total transaction of $1,073,100.00. Following the completion of the sale, the vice president owned 50,450 shares in the company, valued at $10,827,579. The trade was a 9.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael Fetsko sold 5,058 shares of the stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $215.72, for a total value of $1,091,111.76. Following the transaction, the insider owned 36,882 shares in the company, valued at approximately $7,956,185.04. This trade represents a 12.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 35,714 shares of company stock worth $7,441,102 in the last ninety days. Insiders own 1.10% of the company’s stock.

Wabtec Stock Up 2.6%

WAB stock opened at $221.81 on Tuesday. Wabtec has a 1-year low of $151.81 and a 1-year high of $222.47. The business’s 50 day simple moving average is $205.52 and its 200 day simple moving average is $201.08. The company has a current ratio of 1.42, a quick ratio of 0.75 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $37.92 billion, a PE ratio of 32.24, a PEG ratio of 1.66 and a beta of 0.99.

Wabtec (NYSE:WAB) last announced its quarterly earnings results on Wednesday, October 22nd. The transportation company reported $2.32 earnings per share (EPS) for the quarter, beating 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 business 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 firm posted $2.00 EPS. The company’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 anticipate that Wabtec will post 8.54 EPS for the current year.

Wabtec Dividend Announcement

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

Wabtec Company Profile

Wabtec Corporation (Westinghouse Air Brake Technologies Corporation) is a global provider of equipment, systems and services for the rail industry. The company supplies products and solutions to freight railroads, transit agencies and other industrial operators, focusing on technologies that improve the performance, safety and efficiency of locomotives and rail networks. Wabtec’s business spans new equipment manufacturing, aftermarket parts and services, and digital and control systems for rail operations.

Product and service offerings include locomotive systems and components, braking and air systems, propulsion and traction equipment, signaling and control technologies, and a range of aftermarket services such as maintenance, remanufacturing, parts distribution and fleet modernization.