Cornerstone Planning Group LLC Grows Stake in Wabtec $WAB

Cornerstone Planning Group LLC grew its holdings in shares of Wabtec (NYSE:WAB) by 16,665.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,353 shares of the transportation company’s stock after buying an additional 3,333 shares during the period. Cornerstone Planning Group LLC’s holdings in Wabtec were worth $672,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust raised its holdings in Wabtec by 7.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 797 shares of the transportation company’s stock worth $167,000 after purchasing an additional 54 shares in the last quarter. CVA Family Office LLC increased its position in shares of Wabtec by 7.9% during the second quarter. CVA Family Office LLC now owns 748 shares of the transportation company’s stock valued at $157,000 after buying an additional 55 shares during the period. Premier Path Wealth Partners LLC raised its stake in Wabtec by 3.5% in the second quarter. Premier Path Wealth Partners LLC now owns 1,623 shares of the transportation company’s stock worth $340,000 after buying an additional 55 shares in the last quarter. Wedmont Private Capital raised its stake in Wabtec by 2.6% in the third quarter. Wedmont Private Capital now owns 2,246 shares of the transportation company’s stock worth $444,000 after buying an additional 56 shares in the last quarter. Finally, OFI Invest Asset Management lifted its holdings in Wabtec by 10.0% in the third quarter. OFI Invest Asset Management now owns 625 shares of the transportation company’s stock worth $125,000 after buying an additional 57 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Wabtec Trading Up 1.6%

Wabtec stock opened at $233.81 on Tuesday. Wabtec has a 12 month low of $151.81 and a 12 month high of $236.00. The company has a market capitalization of $39.97 billion, a price-to-earnings ratio of 33.98, a price-to-earnings-growth ratio of 1.57 and a beta of 1.00. The business’s fifty day simple moving average is $219.77 and its two-hundred day simple moving average is $204.65. The company has a current ratio of 1.42, a quick ratio of 0.75 and a debt-to-equity ratio of 0.45.

Insiders Place Their Bets

In related news, insider Rogerio Mendonca sold 2,019 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $214.51, for a total value of $433,095.69. Following the completion of the transaction, the insider directly owned 9,516 shares in the company, valued at $2,041,277.16. The trade was a 17.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP David L. Deninno sold 5,000 shares of the stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $214.62, for a total value of $1,073,100.00. Following the sale, the vice president owned 50,450 shares in the company, valued at approximately $10,827,579. This represents a 9.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 24,641 shares of company stock valued at $5,233,559. 1.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Citigroup upped their target price on Wabtec from $245.00 to $258.00 and gave the stock a “buy” rating in a report on Friday, January 9th. Morgan Stanley lifted their price target on Wabtec from $257.00 to $264.00 and gave the company an “overweight” rating in a research report on Monday, January 12th. Wolfe Research upgraded 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. Weiss Ratings reissued a “buy (b)” rating on shares of Wabtec in a research report on Wednesday, January 21st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Wabtec from $215.00 to $245.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $241.00.

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.