Wabtec Stock Pays Off For American Century Ultra Mutual Fund
American Century Ultra Fund (TWCUX) got it right with Wabtec — also known as Westinghouse Air Brake. The $11.4 billion portfolio is underweight in industrials, but its managers nonetheless made room for the locomotive equipment maker, starting in 2010. "Wabtec fits our quality, durable-growth philosophy based on the management team, their track record and a business with a strong operating margin averaging 17% over the last five years," client portfolio manager Kevin Lewis told IBD.