Wabtec (NYSE:WAB) Reaches New 1-Year High – Still a Buy?
by Jessica Moore · The Cerbat GemWabtec (NYSE:WAB – Get Free Report)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $216.97 and last traded at $215.6990, with a volume of 314867 shares. The stock had previously closed at $209.62.
Analyst Ratings Changes
WAB has been the subject of several research reports. Wells Fargo & Company started coverage on shares of Wabtec in a research note on Thursday, November 13th. They set an “equal weight” rating and a $221.00 price target for the company. Citigroup increased their target price on shares of Wabtec from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of Wabtec in a research note on Wednesday, October 8th. Susquehanna boosted their price target on shares of Wabtec from $235.00 to $240.00 and gave the stock a “positive” rating in a research report on Thursday, October 23rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Wabtec from $200.00 to $215.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Wabtec has a consensus rating of “Moderate Buy” and a consensus target price of $226.78.
Read Our Latest Stock Analysis on WAB
Wabtec Trading Up 2.9%
The company has a market cap of $36.88 billion, a price-to-earnings ratio of 31.35, a PEG ratio of 1.64 and a beta of 0.99. 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 $202.20 and its 200-day moving average price is $200.23.
Wabtec (NYSE:WAB – Get Free Report) last released its quarterly earnings results on Wednesday, October 22nd. The transportation company reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.04. The firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.88 billion. Wabtec had a net margin of 10.94% and a return on equity of 13.84%. The business’s revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.00 EPS. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. On average, equities analysts anticipate that Wabtec will post 8.54 EPS for the current fiscal year.
Wabtec Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Wednesday, November 12th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Wednesday, November 12th. Wabtec’s dividend payout ratio (DPR) is presently 14.53%.
Insiders Place Their Bets
In other news, VP David L. Deninno sold 5,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the vice president owned 50,450 shares of the company’s stock, valued at approximately $10,827,579. The trade was a 9.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO John A. Mastalerz, Jr. sold 2,766 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $210.00, for a total transaction of $580,860.00. Following the completion of the transaction, the chief accounting officer owned 5,286 shares in the company, valued at $1,110,060. This trade represents a 34.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 32,455 shares of company stock worth $6,651,219 over the last three months. 1.10% of the stock is currently owned by corporate insiders.
Institutional Trading of Wabtec
A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Wabtec by 2.5% during the second quarter. Vanguard Group Inc. now owns 19,930,893 shares of the transportation company’s stock worth $4,172,532,000 after purchasing an additional 493,437 shares during the period. Geode Capital Management LLC grew its position in Wabtec by 0.7% during the second quarter. Geode Capital Management LLC now owns 4,288,014 shares of the transportation company’s stock worth $893,830,000 after buying an additional 30,489 shares in the last quarter. Wellington Management Group LLP increased its stake in Wabtec by 3.6% during the 3rd quarter. Wellington Management Group LLP now owns 3,304,183 shares of the transportation company’s stock worth $662,390,000 after acquiring an additional 116,329 shares during the period. Boston Partners raised its holdings in Wabtec by 1.9% in the 3rd quarter. Boston Partners now owns 2,304,832 shares of the transportation company’s stock valued at $462,057,000 after acquiring an additional 43,376 shares in the last quarter. Finally, Farallon Capital Management LLC raised its holdings in Wabtec by 68.6% in the 3rd quarter. Farallon Capital Management LLC now owns 2,205,098 shares of the transportation company’s stock valued at $442,056,000 after acquiring an additional 896,900 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.
About Wabtec
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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