Vaughan Nelson Investment Management L.P. Decreases Stock Position in Wabtec $WAB

Vaughan Nelson Investment Management L.P. cut its holdings in Wabtec (NYSE:WAB) by 90.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,850 shares of the transportation company’s stock after selling 200,061 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in Wabtec were worth $4,380,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Abundance Wealth Counselors raised its stake in shares of Wabtec by 15.9% in the third quarter. Abundance Wealth Counselors now owns 4,671 shares of the transportation company’s stock worth $936,000 after purchasing an additional 640 shares during the last quarter. Kathmere Capital Management LLC raised its holdings in shares of Wabtec by 26.3% during the third quarter. Kathmere Capital Management LLC now owns 1,586 shares of the transportation company’s stock valued at $318,000 after purchasing an additional 330 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in Wabtec by 3.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 805,895 shares of the transportation company’s stock valued at $161,558,000 after purchasing an additional 27,739 shares during the period. Motco lifted its position in Wabtec by 6,600.0% during the third quarter. Motco now owns 134 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 132 shares during the period. Finally, GoalVest Advisory LLC purchased a new stake in Wabtec in the third quarter worth approximately $47,000. Institutional investors own 91.69% of the company’s stock.

Insiders Place Their Bets

In related news, insider Michael Fetsko sold 5,058 shares of the company’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $215.72, for a total transaction of $1,091,111.76. Following the completion of the transaction, the insider owned 36,882 shares in the company, valued at approximately $7,956,185.04. This represents a 12.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO John A. Mastalerz, Jr. sold 2,766 shares of the firm’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $210.00, for a total transaction of $580,860.00. Following the transaction, the chief accounting officer directly owned 5,286 shares of the company’s stock, valued at $1,110,060. The trade was a 34.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 35,714 shares of company stock worth $7,441,102 over the last ninety days. 1.10% of the stock is owned by company insiders.

Wabtec Stock Down 1.9%

WAB stock opened at $216.72 on Thursday. The business’s 50-day moving average price is $210.44 and its 200-day moving average price is $202.32. The stock has a market cap of $37.05 billion, a P/E ratio of 31.50, a PEG ratio of 1.52 and a beta of 1.00. The company has a quick ratio of 0.75, a current ratio of 1.42 and a debt-to-equity ratio of 0.45. Wabtec has a twelve month low of $151.81 and a twelve month high of $222.47.

Wabtec (NYSE:WAB) last issued its earnings results on Wednesday, October 22nd. The transportation company reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.04. The company had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.88 billion. Wabtec had a net margin of 10.94% and a return on equity of 13.84%. Wabtec’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.00 EPS. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. On average, equities research analysts forecast that Wabtec will post 8.54 EPS for the current year.

Wabtec Announces Dividend

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

Analyst Ratings Changes

Several research firms have recently weighed in on WAB. Bank of America increased their price target on Wabtec from $228.00 to $233.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Citigroup increased their target price on Wabtec from $225.00 to $245.00 and gave the company a “buy” rating in a report on Friday, November 14th. Weiss Ratings reissued a “buy (b)” rating on shares of Wabtec in a research report on Wednesday, October 8th. Wells Fargo & Company boosted their price target on Wabtec from $221.00 to $224.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 17th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Wabtec from $200.00 to $215.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $227.11.

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.