2,296 Wabtec $WAB Shares Sold by Diversified Trust Co

Diversified Trust Co decreased its holdings in Wabtec (NYSE:WAB) by 11.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,255 shares of the transportation company’s stock after selling 2,296 shares during the period. Diversified Trust Co’s holdings in Wabtec were worth $5,242,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Wabtec during the 2nd quarter worth approximately $3,741,077,000. State Street Corp increased its holdings in shares of Wabtec by 2.1% during the 2nd quarter. State Street Corp now owns 7,905,748 shares of the transportation company’s stock worth $2,131,390,000 after acquiring an additional 164,806 shares during the last quarter. Aberdeen Group plc increased its holdings in shares of Wabtec by 620.8% during the 3rd quarter. Aberdeen Group plc now owns 1,809,470 shares of the transportation company’s stock worth $519,644,000 after acquiring an additional 1,558,445 shares during the last quarter. Amundi increased its holdings in shares of Wabtec by 43.9% during the 2nd quarter. Amundi now owns 1,580,919 shares of the transportation company’s stock worth $426,216,000 after acquiring an additional 482,323 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Wabtec by 2.4% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,424,945 shares of the transportation company’s stock valued at $384,165,000 after acquiring an additional 33,942 shares during the period. 91.69% of the stock is owned by institutional investors and hedge funds.

Wabtec Stock Down 0.9%

Shares of NYSE WAB opened at $297.68 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.56 and a current ratio of 1.10. Wabtec has a 52 week low of $194.93 and a 52 week high of $307.96. The stock has a market capitalization of $49.95 billion, a P/E ratio of 36.98, a PEG ratio of 1.68 and a beta of 0.93. The stock’s fifty day moving average is $286.21 and its 200 day moving average is $270.87.

Wabtec (NYSE:WAB) last posted its quarterly earnings data on Wednesday, October 21st. The transportation company reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.73 by $0.10. Wabtec had a net margin of 11.20% and a return on equity of 15.72%. The business had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.20 billion. During the same quarter in the prior year, the business posted $2.32 earnings per share. Wabtec’s revenue was up 8.1% compared to the same quarter last year. Sell-side analysts forecast that Wabtec will post 10.97 earnings per share for the current fiscal year.

Wabtec Announces Dividend

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

Insider Activity

In other news, EVP Gregory Sbrocco sold 952 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $300.00, for a total transaction of $285,600.00. Following the completion of the sale, the executive vice president owned 21,043 shares of the company’s stock, valued at approximately $6,312,900. This represents a 4.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 in the company, valued at $33,892,867.45. This represents a 0.93% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 5,289 shares of company stock worth $1,555,741. 0.57% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on WAB. Citigroup cut their price target on Wabtec from $338.00 to $334.00 and set a “buy” rating for the company in a report on Thursday, October 22nd. Wells Fargo & Company upped their price objective on shares of Wabtec from $284.00 to $315.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. Morgan Stanley upped their price objective on shares of Wabtec from $318.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. KeyCorp increased their price objective on shares of Wabtec from $308.00 to $340.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Finally, Rothschild & Co Redburn cut their target price on shares of Wabtec from $293.00 to $292.00 and set a “buy” rating for the company in a research note on Wednesday, July 29th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Wabtec currently has a consensus rating of “Moderate Buy” and a consensus target price of $328.90.

Wabtec Profile

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.