Twin Capital Management Inc. Sells 11,054 Shares of Wabtec $WAB

Twin Capital Management Inc. lessened its holdings in Wabtec (NYSE:WAB) by 70.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,687 shares of the transportation company’s stock after selling 11,054 shares during the quarter. Twin Capital Management Inc.’s holdings in Wabtec were worth $940,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In other news, insider Michael Fetsko sold 5,058 shares of the stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $215.72, for a total transaction of $1,091,111.76. Following the transaction, the insider owned 36,882 shares in the company, valued at approximately $7,956,185.04. This trade represents a 12.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Pascal Schweitzer sold 3,000 shares of Wabtec stock in a transaction that occurred 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 sale, the insider directly owned 4,955 shares of the company’s stock, valued at approximately $1,030,986.85. The trade was a 37.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 24,641 shares of company stock valued at $5,233,559 in the last ninety days. 1.10% of the stock is currently owned by company insiders.

Wabtec Stock Up 2.7%

Shares of WAB opened at $246.56 on Friday. Wabtec has a 52 week low of $151.81 and a 52 week high of $246.68. The firm has a market cap of $42.15 billion, a P/E ratio of 35.84, a price-to-earnings-growth ratio of 1.68 and a beta of 1.01. The firm’s 50-day simple moving average is $222.44 and its 200 day simple moving average is $205.53. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.75 and a current ratio of 1.42.

Analysts Set New Price Targets

WAB has been the topic of a number of recent analyst reports. Susquehanna boosted their target price on shares of Wabtec from $240.00 to $280.00 and gave the stock a “positive” rating in a report on Monday, January 26th. Morgan Stanley boosted their price objective on shares of Wabtec from $257.00 to $264.00 and gave the stock an “overweight” rating in a research note on Monday, January 12th. Wolfe Research upgraded shares of Wabtec from a “peer perform” rating to an “outperform” rating and set a $245.00 target price for the company in a research note on Thursday, January 8th. Wells Fargo & Company lifted their price target on Wabtec from $221.00 to $224.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 17th. Finally, Citigroup upped their price objective on Wabtec from $245.00 to $258.00 and gave the company a “buy” rating in a research note on Friday, January 9th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $241.00.

About Wabtec

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.