Sterling Capital Management LLC reduced its position in shares of Wabtec (NYSE:WAB – Free Report) by 42.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,987 shares of the transportation company’s stock after selling 4,356 shares during the period. Sterling Capital Management LLC’s holdings in Wabtec were worth $1,496,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its position in shares of Wabtec by 809.6% in the fourth quarter. SG Americas Securities LLC now owns 152,297 shares of the transportation company’s stock worth $32,508,000 after purchasing an additional 135,553 shares during the period. Nordea Investment Management AB lifted its position in Wabtec by 55.5% during the fourth quarter. Nordea Investment Management AB now owns 3,069,340 shares of the transportation company’s stock worth $659,939,000 after purchasing an additional 1,095,083 shares during the period. 111 Capital acquired a new stake in Wabtec during the third quarter worth about $949,000. Nomura Asset Management Co. Ltd. grew its stake in Wabtec by 5.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 85,485 shares of the transportation company’s stock worth $18,247,000 after buying an additional 4,266 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in Wabtec by 897.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 15,502 shares of the transportation company’s stock valued at $3,309,000 after buying an additional 13,948 shares during the period. 91.69% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Wabtec
In other news, insider Sameer Gaur sold 1,082 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $263.50, for a total transaction of $285,107.00. Following the completion of the transaction, the insider directly owned 11,985 shares in the company, valued at approximately $3,158,047.50. This represents a 8.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Rafael Santana sold 60,852 shares of the firm’s stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $268.89, for a total value of $16,362,494.28. Following the sale, the chief executive officer directly owned 128,729 shares in the company, valued at approximately $34,613,940.81. This trade represents a 32.10% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 65,423 shares of company stock valued at $17,562,278 over the last quarter. Company insiders own 0.57% of the company’s stock.
Wabtec Stock Down 0.1%
Wabtec (NYSE:WAB – Get Free Report) last posted its earnings results on Wednesday, April 22nd. The transportation company reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.09. The firm had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Wabtec had a net margin of 10.52% and a return on equity of 14.52%. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.28 earnings per share. Wabtec has set its FY 2026 guidance at 10.250-10.650 EPS. As a group, analysts forecast that Wabtec will post 10.61 earnings per share for the current fiscal year.
Wabtec Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Friday, May 22nd were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, May 22nd. Wabtec’s payout ratio is presently 17.54%.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on WAB shares. Rothschild & Co Redburn upgraded shares of Wabtec from a “neutral” rating to a “buy” rating and boosted their target price for the company from $262.00 to $285.00 in a research report on Thursday, March 26th. Wolfe Research reiterated an “outperform” rating and set a $303.00 price target on shares of Wabtec in a research report on Thursday, April 23rd. Susquehanna reissued a “positive” rating and issued a $305.00 price objective on shares of Wabtec in a research note on Thursday, April 23rd. Wall Street Zen downgraded shares of Wabtec from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Wabtec in a research note on Monday, April 20th. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $289.82.
Get Our Latest Stock Report on Wabtec
About Wabtec
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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