Douglass Winthrop Advisors LLC Purchases New Stake in Wabtec Co. (WAB)


Douglass Winthrop Advisors LLC purchased a new position in shares of Wabtec Co. (NYSE:WAB) during the first quarter, HoldingsChannel.com reports. The fund purchased 33,542 shares of the transportation company’s stock, valued at approximately $2,730,000.


Several other hedge funds and other institutional investors have also recently made changes to their positions in WAB. SG Americas Securities LLC bought a new position in shares of Wabtec during the fourth quarter worth $1,716,000. Beck Mack & Oliver LLC boosted its position in shares of Wabtec by 11.7% during the fourth quarter. Beck Mack & Oliver LLC now owns 665,963 shares of the transportation company’s stock worth $54,229,000 after purchasing an additional 69,504 shares in the last quarter. Patten Group Inc. lifted its position in Wabtec by 55.5% in the 4th quarter. Patten Group Inc. now owns 5,195 shares of the transportation company’s stock valued at $423,000 after acquiring an additional 1,855 shares in the last quarter. Emerald Advisers Inc. PA bought a new stake in Wabtec in the 4th quarter valued at $327,000. Finally, Boston Common Asset Management LLC lifted its position in Wabtec by 14.7% in the 4th quarter. Boston Common Asset Management LLC now owns 9,855 shares of the transportation company’s stock valued at $802,000 after acquiring an additional 1,260 shares in the last quarter.


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Shares of NYSE:WAB opened at $93.19 on Wednesday. The company has a current ratio of 1.50, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. Wabtec Co. has a one year low of $91.99 and a one year high of $93.02. The stock has a market cap of $8.96 billion, a price-to-earnings ratio of 27.17, a price-to-earnings-growth ratio of 2.13 and a beta of 0.91.

Wabtec (NYSE:WAB) last issued its quarterly earnings results on Tuesday, April 24th. The transportation company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.90 by $0.02. Wabtec had a net margin of 6.88% and a return on equity of 12.13%. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the previous year, the firm posted $0.77 EPS. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. equities analysts forecast that Wabtec Co. will post 3.8 EPS for the current fiscal year.


The firm also recently declared a quarterly dividend, which will be paid on Friday, May 25th. Shareholders of record on Friday, May 11th will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, May 10th. This represents a $0.48 annualized dividend and a yield of 0.52%. Wabtec’s dividend payout ratio (DPR) is presently 13.99%.

WAB has been the topic of several research reports. Zacks Investment Research cut shares of Wabtec from a “hold” rating to a “sell” rating in a research report on Friday, February 23rd. Deutsche Bank raised shares of Wabtec from a “hold” rating to a “buy” rating and set a $105.00 price objective on the stock in a research report on Monday. B. Riley set a $85.00 price objective on shares of Wabtec and gave the company a “hold” rating in a research report on Wednesday, February 21st. Cowen reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Wabtec in a research report on Tuesday, February 20th. Finally, Wells Fargo set a $100.00 price objective on shares of Wabtec and gave the company an “outperform” rating in a research report on Wednesday, April 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. Wabtec has a consensus rating of “Buy” and a consensus price target of $93.83.


Wabtec Profile

Westinghouse Air Brake Technologies Corporation, doing business as Wabtec Corporation, provides technology-based equipment, systems, and services for the freight rail and passenger transit vehicle industries worldwide. It operates in two segments, Freight and Transit. The Freight segment manufactures and services components for new and existing locomotive and freight cars; supplies railway electronics and positive train control equipment; offers signal design and engineering services; builds switcher locomotives; rebuilds freight locomotives; and provides heat exchangers and cooling systems for rail and other industrial markets.

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