Wabtec $WAB Shares Sold by Channing Capital Management LLC

Channing Capital Management LLC decreased its position in Wabtec (NYSE:WAB - Free Report) by 20.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 85,827 shares of the transportation company's stock after selling 21,823 shares during the quarter. Channing Capital Management LLC owned about 0.05% of Wabtec worth $17,968,000 as of its most recent filing with the Securities and Exchange Commission.

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Several other hedge funds also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its position in shares of Wabtec by 60.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,423 shares of the transportation company's stock valued at $298,000 after buying an additional 537 shares during the last quarter. 1832 Asset Management L.P. grew its stake in Wabtec by 28.0% in the 2nd quarter. 1832 Asset Management L.P. now owns 15,118 shares of the transportation company's stock worth $3,165,000 after acquiring an additional 3,307 shares during the period. PharVision Advisers LLC acquired a new position in Wabtec in the 2nd quarter valued at $250,000. Groupe la Francaise lifted its stake in shares of Wabtec by 19.8% during the 2nd quarter. Groupe la Francaise now owns 43,796 shares of the transportation company's stock worth $9,128,000 after purchasing an additional 7,249 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in shares of Wabtec during the second quarter worth $9,371,000. 91.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WAB has been the topic of several recent analyst reports. Wall Street Zen downgraded Wabtec from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Weiss Ratings reiterated a "buy (b)" rating on shares of Wabtec in a report on Wednesday, October 8th. Wells Fargo & Company assumed coverage on shares of Wabtec in a research report on Thursday, November 13th. They issued an "equal weight" rating and a $221.00 target price on the stock. Citigroup upped their price target on shares of Wabtec from $225.00 to $245.00 and gave the stock a "buy" rating in a research report on Friday, November 14th. Finally, Susquehanna lifted their price target on shares of Wabtec from $235.00 to $240.00 and gave the company a "positive" rating in a report on Thursday, October 23rd. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $226.78.

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Get Our Latest Research Report on Wabtec

Wabtec Trading Up 2.5%

Shares of WAB stock opened at $213.63 on Thursday. 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 fifty-two week low of $151.81 and a fifty-two week high of $216.10. The firm's 50 day moving average price is $200.99 and its two-hundred day moving average price is $199.96. The stock has a market cap of $36.52 billion, a price-to-earnings ratio of 31.05, a price-to-earnings-growth ratio of 1.61 and a beta of 0.99.

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Wabtec (NYSE:WAB - Get Free Report) last issued its earnings results on Wednesday, October 22nd. The transportation company reported $2.32 EPS for the quarter, beating analysts' consensus estimates of $2.28 by $0.04. The business had revenue of $2.89 billion for 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%. The business's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.00 EPS. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. On average, analysts anticipate that Wabtec will post 8.54 EPS for the current year.

Wabtec Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Wednesday, November 12th. Wabtec's payout ratio is currently 14.53%.

Insider Activity at Wabtec

In other Wabtec news, CEO Rafael Santana sold 1,799 shares of the company's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $189.97, for a total value of $341,756.03. Following the completion of the transaction, the chief executive officer owned 136,729 shares in the company, valued at $25,974,408.13. This represents a 1.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gregory Sbrocco sold 2,953 shares of the stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $195.43, for a total transaction of $577,104.79. Following the completion of the sale, the executive vice president directly owned 17,829 shares of the company's stock, valued at $3,484,321.47. This trade represents a 14.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 25,436 shares of company stock valued at $5,145,024 over the last 90 days. Corporate insiders own 1.10% of the company's stock.

Wabtec Profile

Westinghouse Air Brake Technologies Corporation, together with its subsidiaries, provides technology-based locomotives, equipment, systems, and services for the freight rail and passenger transit industries worldwide. It offers diesel-electric, battery, and liquid natural gas-powered locomotives; engines, electric motors, and propulsion systems; and marine and mining products.

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