Wabtec $WAB Stock: Trillium Asset Management LLC Trims Stake

Trillium Asset Management LLC reduced its holdings in shares of Wabtec (NYSE:WAB) by 12.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 111,839 shares of the transportation company’s stock after selling 16,412 shares during the quarter. Wabtec makes up about 1.0% of Trillium Asset Management LLC’s portfolio, making the stock its 21st biggest holding. Trillium Asset Management LLC owned 0.07% of Wabtec worth $32,118,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Phoenix Financial Ltd. boosted its position in Wabtec by 14.7% during the third quarter. Phoenix Financial Ltd. now owns 2,113 shares of the transportation company’s stock worth $607,000 after purchasing an additional 270 shares during the period. McKinney Capital Management LLC increased its holdings in shares of Wabtec by 4.4% in the third quarter. McKinney Capital Management LLC now owns 3,297 shares of the transportation company’s stock valued at $947,000 after purchasing an additional 138 shares during the last quarter. Shah Wealth Advisors LLC acquired a new position in shares of Wabtec in the third quarter valued at $245,000. Cornerstone Advisors LLC raised its position in shares of Wabtec by 28.8% in the third quarter. Cornerstone Advisors LLC now owns 31,982 shares of the transportation company’s stock valued at $9,185,000 after purchasing an additional 7,149 shares during the period. Finally, Aberdeen Group plc raised its position in shares of Wabtec by 620.8% in the third quarter. Aberdeen Group plc now owns 1,809,470 shares of the transportation company’s stock valued at $519,644,000 after purchasing an additional 1,558,445 shares during the period. 91.69% of the stock is owned by institutional investors and hedge funds.

Wabtec Stock Performance

NYSE WAB traded down $2.83 during trading on Friday, reaching $297.68. The company’s stock had a trading volume of 809,997 shares, compared to its average volume of 1,098,791. 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 firm has a market capitalization of $49.95 billion, a price-to-earnings ratio of 36.98, a price-to-earnings-growth ratio of 1.68 and a beta of 0.93. Wabtec has a 12 month low of $194.93 and a 12 month high of $307.96. The firm has a 50 day moving average price of $286.21 and a 200 day moving average price of $270.87.

Wabtec (NYSE:WAB) last announced its earnings results on Wednesday, October 21st. The transportation company reported $2.83 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.20 billion. During the same quarter in the prior year, the business posted $2.32 EPS. The business’s revenue was up 8.1% compared to the same quarter last year. As a group, equities analysts anticipate that Wabtec will post 10.97 EPS for the current fiscal year.

Wabtec Dividend Announcement

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

Insider Buying and Selling

In related news, CEO Rafael Santana sold 1,087 shares of the stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $291.79, for a total transaction of $317,175.73. Following the sale, the chief executive officer owned 116,155 shares of the company’s stock, valued at $33,892,867.45. This represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Fetsko sold 3,250 shares of the firm’s stock in a transaction 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 transaction, the insider owned 37,380 shares in the company, valued at approximately $10,960,563.60. This trade represents a 8.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 5,289 shares of company stock valued at $1,555,741 over the last 90 days. 0.57% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on WAB. KeyCorp increased their target price on Wabtec from $308.00 to $340.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Wells Fargo & Company boosted their price target on Wabtec from $284.00 to $315.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. Citigroup decreased their price objective on Wabtec from $338.00 to $334.00 and set a “buy” rating on the stock in a report on Thursday, October 22nd. Weiss Ratings lowered Wabtec from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday. Finally, Susquehanna increased their price objective on Wabtec from $305.00 to $340.00 and gave the stock a “positive” rating in a research report on Thursday, July 23rd. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $328.90.

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.