Timothy Curro’s Value Holdings Bets on Total System Services Inc. (TSS), Global Payments Inc. (GPN), & More in Q3

Next up on our list is Westinghouse Air Brake Technologies Corporation (NYSE:WAB). Value Holdings sold 12.85% of its equity stake in Wabtec, ending the quarter with 154,600 shares valued at $14.57 million. It seems that the hedge fund cashed out a part of its stake in Wabtec too early, as the stock embarked on an uptrend recently following the announcement of the company’s plans to acquire Faiveley Transport for $1.8 billion. The shares of Wabtec have gained slightly over 16% since the beginning of the current year, but it seems that there is more upside for the stock as the company keeps growing. Wabtec, a provider of technology-based products and services to freight rail and passenger transit industries, is acquiring a leading global provider of value-added, integrated systems and services for the railway industry. Following the completion of the transaction, the combined entity will create one of the largest public rail equipment companies in the world, with annual sales of more than $4.5 billion. Robert Joseph Caruso’s Select Equity Group is among the hedge funds bullish on Westinghouse Air Brake Technologies Corporation (NYSE:WAB) within our database, with an equity stake of 533,233 shares.

Lastly, another noteworthy move completed by Value Holdings discussed in this article is the sale of a part of its stake in Global Payments Inc. (NYSE:GPN). Specifically, the investor trimmed its stake by 31,536 shares to 139,184 shares valued at $14.40 million. Interestingly enough, the shares of Global Payments are also trading at an all-time high, which might actually indicate that Timothy Curro has been quite successful in picking stocks recently. The stock has generated a year-to-date gain of 39%, excluding the quarterly dividends of $0.02 per share. Global Payment has recently announced the financial results for its fourth fiscal quarter and year that ended May 31. The company reported revenues of $706.5 million for the fourth quarter, compared to $674.0 million reported in the same quarter a year ago. In the meantime, the provider of electronic transaction processing services delivered GAAP diluted earnings per share of $0.99 for the quarter, compared to $0.72 reported a year ago. Robert Pohly’s Samlyn Capital is the largest shareholder in Global Payments Inc. (NYSE:GPN) within our database, holding a stake of 2.26 million shares.

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