Howard Capital Management Inc. Has $3.51 Million Stock Holdings in Wabtec $WAB

Howard Capital Management Inc. boosted its stake in Wabtec (NYSE:WAB) by 26.5% in the third quarter, Holdings Channel reports. The institutional investor owned 17,518 shares of the transportation company’s stock after acquiring an additional 3,665 shares during the quarter. Howard Capital Management Inc.’s holdings in Wabtec were worth $3,512,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Empowered Funds LLC boosted its position in Wabtec by 240.8% during the second quarter. Empowered Funds LLC now owns 15,924 shares of the transportation company’s stock worth $3,334,000 after purchasing an additional 11,252 shares during the period. Varenne Capital Partners lifted its stake in shares of Wabtec by 39.5% in the second quarter. Varenne Capital Partners now owns 277,078 shares of the transportation company’s stock worth $58,006,000 after buying an additional 78,394 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Wabtec in the second quarter worth $9,371,000. Mediolanum International Funds Ltd bought a new stake in shares of Wabtec during the 2nd quarter worth $8,201,000. Finally, Neuberger Berman Group LLC grew its stake in Wabtec by 5.2% in the 2nd quarter. Neuberger Berman Group LLC now owns 229,233 shares of the transportation company’s stock valued at $47,990,000 after buying an additional 11,406 shares during the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Wabtec Trading Down 1.1%

Wabtec stock opened at $230.01 on Friday. The business has a 50 day moving average price of $219.10 and a two-hundred day moving average price of $204.59. 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 12 month low of $151.81 and a 12 month high of $236.00. The stock has a market cap of $39.32 billion, a price-to-earnings ratio of 33.43, a price-to-earnings-growth ratio of 1.58 and a beta of 1.00.

Wall Street Analyst Weigh In

WAB has been the subject of a number of research analyst reports. Wells Fargo & Company boosted their target price on shares of Wabtec from $221.00 to $224.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 17th. Wolfe Research upgraded Wabtec from a “peer perform” rating to an “outperform” rating and set a $245.00 price objective on the stock in a research note on Thursday, January 8th. Morgan Stanley increased their target price on Wabtec from $257.00 to $264.00 and gave the company an “overweight” rating in a research note on Monday, January 12th. JPMorgan Chase & Co. raised their target price on Wabtec from $215.00 to $245.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wabtec in a research report on Wednesday, January 21st. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $241.00.

Insiders Place Their Bets

In related news, insider Pascal Schweitzer sold 3,000 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $208.07, for a total value of $624,210.00. Following the completion of the transaction, the insider directly owned 4,955 shares of the company’s stock, valued at $1,030,986.85. This trade represents a 37.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David L. Deninno sold 5,000 shares of the business’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $214.62, for a total transaction of $1,073,100.00. Following the completion of the sale, the vice president directly owned 50,450 shares in the company, valued at $10,827,579. This trade represents a 9.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 26,439 shares of company stock valued at $5,599,650 in the last ninety days. 1.10% of the stock is currently owned by insiders.

Wabtec 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.