Wabtec $WAB Shares Purchased by Arista Wealth Management LLC

Arista Wealth Management LLC increased its position in shares of Wabtec (NYSE:WAB) by 40.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,602 shares of the transportation company’s stock after purchasing an additional 2,201 shares during the quarter. Arista Wealth Management LLC’s holdings in Wabtec were worth $1,524,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC purchased a new stake in shares of Wabtec during the second quarter worth $44,000. US Bancorp DE grew its stake in Wabtec by 10.9% during the 2nd quarter. US Bancorp DE now owns 8,400 shares of the transportation company’s stock valued at $1,759,000 after acquiring an additional 826 shares in the last quarter. Callan Family Office LLC acquired a new stake in Wabtec in the 2nd quarter valued at about $607,000. Aberdeen Group plc raised its holdings in Wabtec by 0.4% in the 2nd quarter. Aberdeen Group plc now owns 212,350 shares of the transportation company’s stock valued at $44,486,000 after acquiring an additional 930 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in Wabtec by 22.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 18,619 shares of the transportation company’s stock worth $3,899,000 after purchasing an additional 3,449 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on WAB. Susquehanna increased their price target on Wabtec from $240.00 to $280.00 and gave the company a “positive” rating in a report on Monday, January 26th. JPMorgan Chase & Co. raised their target price on Wabtec from $215.00 to $245.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Morgan Stanley boosted their price target on shares of Wabtec from $257.00 to $264.00 and gave the company an “overweight” rating in a research report on Monday, January 12th. Wolfe Research raised shares of Wabtec from a “peer perform” rating to an “outperform” rating and set a $245.00 price objective for the company in a report on Thursday, January 8th. Finally, Citigroup raised their price objective on shares of Wabtec from $245.00 to $258.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Wabtec currently has an average rating of “Moderate Buy” and an average target price of $241.00.

Insider Activity

In other news, CEO Rafael Santana sold 1,798 shares of Wabtec stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $212.17, for a total value of $381,481.66. Following the completion of the sale, the chief executive officer directly owned 125,941 shares of the company’s stock, valued at approximately $26,720,901.97. The trade was a 1.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP David L. Deninno sold 5,000 shares of the stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $209.94, for a total value of $1,049,700.00. Following the transaction, the vice president directly owned 55,450 shares in the company, valued at approximately $11,641,173. The trade was a 8.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 21,641 shares of company stock worth $4,609,349 in the last three months. 1.10% of the stock is currently owned by corporate insiders.

Wabtec Stock Down 0.7%

Shares of WAB opened at $244.62 on Tuesday. The company’s 50-day moving average price is $223.17 and its 200 day moving average price is $205.77. Wabtec has a 12-month low of $151.81 and a 12-month high of $248.78. 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 cap of $41.82 billion, a P/E ratio of 35.56, a price-to-earnings-growth ratio of 1.68 and a beta of 1.01.

Wabtec Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Tuesday, February 17th will be issued a $0.31 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $1.24 annualized dividend and a dividend yield of 0.5%. This is an increase from Wabtec’s previous quarterly dividend of $0.25. Wabtec’s dividend payout ratio (DPR) is currently 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.