Wabtec $WAB Position Lowered by Candriam S.C.A.

Candriam S.C.A. trimmed its position in Wabtec (NYSE:WAB) by 7.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 336,877 shares of the transportation company’s stock after selling 27,157 shares during the period. Candriam S.C.A. owned 0.20% of Wabtec worth $97,098,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of WAB. Resona Asset Management Co. Ltd. raised its stake in shares of Wabtec by 348.6% during the second quarter. Resona Asset Management Co. Ltd. now owns 233,300 shares of the transportation company’s stock valued at $62,806,000 after acquiring an additional 181,296 shares during the last quarter. QRG Capital Management Inc. lifted its holdings in shares of Wabtec by 5.5% during the second quarter. QRG Capital Management Inc. now owns 93,442 shares of the transportation company’s stock worth $25,192,000 after purchasing an additional 4,878 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of Wabtec by 15.0% during the first quarter. Hsbc Holdings PLC now owns 351,769 shares of the transportation company’s stock worth $87,735,000 after purchasing an additional 45,760 shares during the period. Copeland Capital Management LLC grew its stake in shares of Wabtec by 861.4% in the first quarter. Copeland Capital Management LLC now owns 46,707 shares of the transportation company’s stock worth $11,673,000 after purchasing an additional 41,849 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Wabtec by 2.1% in the second quarter. State Street Corp now owns 7,905,748 shares of the transportation company’s stock worth $2,131,390,000 after purchasing an additional 164,806 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Insider Activity at Wabtec

In other Wabtec news, insider Michael Fetsko sold 3,250 shares of the stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $293.22, for a total transaction of $952,965.00. Following the completion of the sale, the insider directly owned 37,380 shares in the company, valued at approximately $10,960,563.60. This trade represents a 8.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Rafael Santana sold 1,087 shares of the stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $291.79, for a total value of $317,175.73. Following the sale, the chief executive officer owned 116,155 shares of the company’s stock, valued at approximately $33,892,867.45. The trade was a 0.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 5,289 shares of company stock worth $1,555,741 over the last quarter. Company insiders own 0.57% of the company’s stock.

Wabtec Stock Up 2.0%

Wabtec stock opened at $283.97 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.56 and a current ratio of 1.10. Wabtec has a 52-week low of $194.93 and a 52-week high of $306.64. The firm has a 50 day moving average price of $284.49 and a two-hundred day moving average price of $269.14. The firm has a market cap of $47.65 billion, a price-to-earnings ratio of 35.28, a PEG ratio of 1.59 and a beta of 0.93.

Wabtec (NYSE:WAB) last posted its quarterly earnings data on Wednesday, October 21st. The transportation company reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.73 by $0.10. Wabtec had a net margin of 11.20% and a return on equity of 15.72%. The company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.20 billion. During the same period in the prior year, the firm posted $2.32 EPS. The company’s quarterly revenue was up 8.1% on a year-over-year basis. Equities analysts predict that Wabtec will post 10.97 EPS for the current year.

Wabtec Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, November 17th will be issued a $0.31 dividend. The ex-dividend date is Tuesday, November 17th. This represents a $1.24 annualized dividend and a yield of 0.4%. Wabtec’s payout ratio is presently 15.40%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Rothschild & Co Redburn decreased their price objective on Wabtec from $293.00 to $292.00 and set a “buy” rating for the company in a report on Wednesday, July 29th. Weiss Ratings raised Wabtec from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, October 26th. Wells Fargo & Company lifted their target price on Wabtec from $284.00 to $315.00 and gave the stock an “equal weight” rating in a report on Thursday, July 23rd. Wall Street Zen lowered Wabtec from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Finally, KeyCorp upped their price target on Wabtec from $308.00 to $340.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $320.18.

About Wabtec

Wabtec Corporation (NYSE: WAB), also known as Westinghouse Air Brake Technologies, supplies equipment, systems and services for the freight rail and passenger transit industries. Its products include locomotives, braking and train control systems, propulsion equipment, and components designed to support rail safety and performance.

The company also provides aftermarket services, including maintenance, modernization, parts and digital solutions for rail operators. Its offerings serve freight railroads, transit agencies and other customers in the global rail industry.

Wabtec was formed in 1999 through the merger of Westinghouse Air Brake Company and MotivePower Industries, bringing together businesses with roots in rail equipment dating to the 19th century.