Wabtec $WAB Stock Sold by Hahn Capital Management LLC

Hahn Capital Management LLC lowered its position in Wabtec (NYSE:WAB) by 22.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,455 shares of the transportation company’s stock after selling 9,846 shares during the quarter. Wabtec makes up approximately 5.6% of Hahn Capital Management LLC’s portfolio, making the stock its 2nd biggest position. Hahn Capital Management LLC’s holdings in Wabtec were worth $9,608,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of WAB. Whipplewood Advisors LLC bought a new stake in Wabtec in the first quarter worth $25,000. Meeder Asset Management Inc. bought a new position in shares of Wabtec during the second quarter valued at about $26,000. Latitude Advisors LLC purchased a new position in shares of Wabtec in the third quarter worth about $26,000. Bell Investment Advisors Inc purchased a new position in shares of Wabtec in the second quarter worth about $29,000. Finally, Fiduciary Financial Advisors bought a new stake in shares of Wabtec in the 2nd quarter valued at about $29,000. 91.69% of the stock is currently owned by institutional investors.

Wabtec Stock Performance

Shares of WAB stock opened at $294.70 on Thursday. Wabtec has a 12 month low of $194.93 and a 12 month high of $306.64. The stock has a market cap of $49.45 billion, a PE ratio of 36.61, a price-to-earnings-growth ratio of 1.63 and a beta of 0.93. The company has a current ratio of 1.10, a quick ratio of 0.56 and a debt-to-equity ratio of 0.41. The company’s fifty day moving average price is $285.20 and its 200-day moving average price is $268.62.

Wabtec (NYSE:WAB) last issued its quarterly earnings results on Wednesday, October 21st. The transportation company reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $3.20 billion. During the same period last year, the business earned $2.32 EPS. Wabtec’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, equities analysts expect that Wabtec will post 10.97 EPS for the current fiscal year.

Wabtec Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 17th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.4%. Wabtec’s dividend payout ratio (DPR) is currently 15.40%.

Insider Activity

In related news, insider Michael Fetsko sold 3,250 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $293.22, for a total value of $952,965.00. Following the sale, the insider owned 37,380 shares in the company, valued at $10,960,563.60. This represents a 8.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Gregory Sbrocco sold 952 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $300.00, for a total value of $285,600.00. Following the transaction, the executive vice president directly owned 21,043 shares of the company’s stock, valued at approximately $6,312,900. This trade represents a 4.33% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 5,289 shares of company stock worth $1,555,741. Insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Morgan Stanley lifted their price target on Wabtec from $318.00 to $355.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Citigroup cut their price objective on Wabtec from $338.00 to $334.00 and set a “buy” rating on the stock in a research report on Thursday, October 22nd. KeyCorp lifted their price objective on Wabtec from $308.00 to $340.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Wall Street Zen cut Wabtec from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Finally, Weiss Ratings upgraded Wabtec from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, October 26th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Wabtec presently has an average rating of “Moderate Buy” and an average target price of $320.18.

Wabtec Company Profile

Westinghouse Air Brake Technologies Corporation, doing business as Wabtec (NYSE: WAB), is a global provider of equipment, systems, digital solutions and services for the freight and passenger rail industries. The company develops technologies intended to improve the safety, efficiency, reliability and sustainability of rail transportation.

Wabtec’s products and services include locomotives, locomotive components and modernization programs, braking systems, train control and signaling equipment, power and propulsion systems, and advanced digital solutions.