Voya Investment Management LLC Sells 41,544 Shares of Wabtec $WAB

by · The Markets Daily

Voya Investment Management LLC lessened its position in shares of Wabtec (NYSE:WAB – Free Report) by 42.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 55,981 shares of the transportation company’s stock after selling 41,544 shares during the quarter. Voya Investment Management LLC’s holdings in Wabtec were worth $11,223,000 as of its most recent filing with the Securities and Exchange Commission.

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

In other news, insider Michael Fetsko sold 5,058 shares of Wabtec stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $215.72, for a total value of $1,091,111.76. Following the completion of the sale, the insider directly owned 36,882 shares in the company, valued at approximately $7,956,185.04. The trade was a 12.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO John A. Mastalerz, Jr. sold 2,766 shares of the company’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $210.00, for a total value of $580,860.00. Following the sale, the chief accounting officer owned 5,286 shares of the company’s stock, valued at approximately $1,110,060. The trade was a 34.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 35,714 shares of company stock worth $7,441,102. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

WAB has been the subject of several recent research reports. Wells Fargo & Company boosted their price objective on Wabtec from $221.00 to $224.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 17th. 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 note on Thursday, October 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wabtec in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lifted their target price on shares of Wabtec from $200.00 to $215.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. Finally, Bank of America upped their target price on shares of Wabtec from $228.00 to $233.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $227.11.

View Our Latest Report on Wabtec

Wabtec Trading Up 2.6%

Shares of NYSE:WAB opened at $221.81 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.75. The company’s 50-day moving average price is $205.52 and its two-hundred day moving average price is $201.08. The stock has a market capitalization of $37.92 billion, a PE ratio of 32.24, a price-to-earnings-growth ratio of 1.66 and a beta of 0.99. Wabtec has a one year low of $151.81 and a one year high of $222.47.

Wabtec (NYSE:WAB – Get Free Report) last announced its quarterly earnings data 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 company had revenue of $2.89 billion during 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 company’s quarterly revenue was up 8.4% on a year-over-year basis. 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, equities analysts forecast that Wabtec will post 8.54 EPS for the current fiscal year.

Wabtec Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Wednesday, November 12th. Wabtec’s payout ratio is presently 14.53%.

Wabtec Profile

(Free Report)

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.

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