Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Wabtec (NYSE:WAB – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 408,742 shares of the transportation company’s stock, valued at approximately $110,197,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.24% of Wabtec as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Wabtec by 20.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,965,503 shares of the transportation company’s stock worth $1,700,238,000 after acquiring an additional 1,344,744 shares during the period. State Street Corp increased its stake in Wabtec by 2.6% in the fourth quarter. State Street Corp now owns 7,658,040 shares of the transportation company’s stock valued at $1,634,609,000 after acquiring an additional 197,610 shares during the last quarter. Geode Capital Management LLC increased its stake in Wabtec by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,366,157 shares of the transportation company’s stock valued at $928,249,000 after acquiring an additional 38,029 shares during the last quarter. Wellington Management Group LLP raised its position in Wabtec by 3.6% during the third quarter. Wellington Management Group LLP now owns 3,304,183 shares of the transportation company’s stock valued at $662,390,000 after purchasing an additional 116,329 shares in the last quarter. Finally, Farallon Capital Management LLC raised its position in Wabtec by 12.3% during the fourth quarter. Farallon Capital Management LLC now owns 2,476,003 shares of the transportation company’s stock valued at $528,503,000 after purchasing an additional 270,905 shares in the last quarter. 91.69% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. raised their target price on Wabtec from $300.00 to $315.00 and gave the company a “neutral” rating in a report on Thursday, July 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Wabtec in a research report on Friday, July 17th. KeyCorp lifted their target price on Wabtec from $308.00 to $340.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Susquehanna boosted their target price on Wabtec from $305.00 to $340.00 and gave the stock a “positive” rating in a research note on Thursday, July 23rd. Finally, Morgan Stanley boosted their target price on Wabtec from $318.00 to $355.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $313.36.
Wabtec Stock Down 1.8%
Shares of NYSE:WAB opened at $295.34 on Wednesday. Wabtec has a 52-week low of $184.26 and a 52-week high of $306.64. The company has a market capitalization of $49.89 billion, a PE ratio of 39.70, a price-to-earnings-growth ratio of 2.03 and a beta of 0.93. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.59 and a current ratio of 1.12. The company has a fifty day moving average of $278.22 and a 200-day moving average of $263.70.
Wabtec (NYSE:WAB – Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.60 by $0.16. The company had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.07 billion. Wabtec had a return on equity of 15.10% and a net margin of 10.59%.Wabtec’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter last year, the business posted $2.27 EPS. Wabtec has set its FY 2026 guidance at 10.600-10.900 EPS. On average, equities analysts predict that Wabtec will post 10.86 EPS for the current fiscal year.
Wabtec Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.24 annualized dividend and a dividend yield of 0.4%. Wabtec’s dividend payout ratio is currently 16.67%.
Insiders Place Their Bets
In other Wabtec news, insider Sameer Gaur sold 1,082 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $263.50, for a total value 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Rafael Santana sold 1,163 shares of the firm’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $261.06, for a total transaction of $303,612.78. Following the transaction, the chief executive officer directly owned 124,077 shares of the company’s stock, valued at $32,391,541.62. The trade was a 0.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 17,786 shares of company stock worth $5,160,577 over the last quarter. 0.57% of the stock is currently owned by corporate insiders.
Wabtec Profile
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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