State Board of Administration of Florida Retirement System Acquires 1,799 Shares of Wabtec $WAB

The State Board of Administration of Florida Retirement System increased its holdings in Wabtec by 1.1% in Q2, acquiring 1,799 shares, totaling 172,011 shares valued at $36,011,000. Other major investors like Vanguard and Geode also raised their stakes. Analysts have given Wabtec a consensus 'Moderate Buy' rating with a target price of $226.78. Recent insider sales were reported, with a 0.3% stock price increase to $208.44.

State Board of Administration of Florida Retirement System raised its holdings in shares of Wabtec (NYSE:WAB - Free Report) by 1.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 172,011 shares of the transportation company's stock after acquiring an additional 1,799 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.10% of Wabtec worth $36,011,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Wabtec by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 19,930,893 shares of the transportation company's stock valued at $4,172,532,000 after purchasing an additional 493,437 shares during the period. Geode Capital Management LLC increased its position in shares of Wabtec by 0.7% during the second quarter. Geode Capital Management LLC now owns 4,288,014 shares of the transportation company's stock valued at $893,830,000 after buying an additional 30,489 shares during the period. Boston Partners lifted its holdings in shares of Wabtec by 9.0% in the second quarter. Boston Partners now owns 2,261,456 shares of the transportation company's stock worth $471,410,000 after buying an additional 186,248 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Wabtec by 33.4% in the second quarter. Nordea Investment Management AB now owns 1,592,529 shares of the transportation company's stock valued at $333,062,000 after acquiring an additional 398,782 shares during the period. Finally, American Century Companies Inc. boosted its position in shares of Wabtec by 1.1% in the second quarter. American Century Companies Inc. now owns 1,150,050 shares of the transportation company's stock valued at $240,764,000 after acquiring an additional 12,715 shares during the period. 91.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Citigroup increased their target price on shares of Wabtec from $225.00 to $245.00 and gave the stock a "buy" rating in a research note on Friday, November 14th. JPMorgan Chase & Co. increased their price objective on Wabtec from $200.00 to $215.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 14th. Wall Street Zen lowered Wabtec from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Bank of America upped their target price on Wabtec from $228.00 to $233.00 and gave the stock a "buy" rating in a research note on Thursday, November 13th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Wabtec in a report on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Wabtec has a consensus rating of "Moderate Buy" and a consensus price target of $226.78.

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Insiders Place Their Bets

In other Wabtec news, CAO John A. Mastalerz, Jr. sold 2,766 shares of the business's stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $210.00, for a total value of $580,860.00. Following the transaction, the chief accounting officer owned 5,286 shares in the company, valued at approximately $1,110,060. The trade was a 34.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David L. Deninno sold 5,000 shares of the company's stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $209.94, for a total transaction of $1,049,700.00. Following the transaction, the vice president directly owned 55,450 shares of the company's stock, valued at approximately $11,641,173. This trade represents a 8.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 25,436 shares of company stock worth $5,145,024. 1.10% of the stock is currently owned by insiders.

Wabtec Stock Up 0.3%

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WAB opened at $208.44 on Friday. Wabtec has a 12 month low of $151.81 and a 12 month high of $216.10. The company has a current ratio of 1.42, a quick ratio of 0.75 and a debt-to-equity ratio of 0.45. The business's 50-day moving average price is $200.07 and its 200-day moving average price is $199.84. The company has a market cap of $35.63 billion, a P/E ratio of 30.30, a P/E/G ratio of 1.55 and a beta of 1.09.

Wabtec (NYSE:WAB - Get Free Report) last announced its quarterly earnings results on Wednesday, October 22nd. The transportation company reported $2.32 EPS for the quarter, topping analysts' consensus estimates of $2.28 by $0.04. The business had revenue of $2.89 billion for the quarter, compared to analysts' expectations of $2.88 billion. Wabtec had a return on equity of 13.84% and a net margin of 10.94%.The business's quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.00 EPS. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. On average, equities analysts expect that Wabtec will post 8.54 EPS for the current year.

Wabtec Announces Dividend

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

Wabtec Profile

(Free Report)

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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