Wellington Management Group LLP lowered its position in shares of Wabtec (NYSE:WAB – Free Report) by 33.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,670,476 shares of the transportation company’s stock after selling 839,436 shares during the quarter. Wellington Management Group LLP’s holdings in Wabtec were worth $450,360,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC acquired a new position in Wabtec in the second quarter valued at about $404,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Wabtec during the second quarter worth approximately $244,000. Rakuten Investment Management Inc. raised its stake in shares of Wabtec by 9.7% in the second quarter. Rakuten Investment Management Inc. now owns 27,781 shares of the transportation company’s stock valued at $7,454,000 after acquiring an additional 2,453 shares during the last quarter. Equitable Holdings Inc. raised its stake in shares of Wabtec by 31.0% in the second quarter. Equitable Holdings Inc. now owns 2,644 shares of the transportation company’s stock valued at $713,000 after acquiring an additional 626 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in shares of Wabtec in the 2nd quarter worth approximately $274,000. 91.69% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on WAB shares. Citigroup raised their price target on Wabtec from $311.00 to $341.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Wells Fargo & Company boosted their price objective on Wabtec from $284.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 23rd. Wall Street Zen lowered Wabtec from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. KeyCorp lifted their price target on Wabtec from $308.00 to $340.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Finally, Morgan Stanley increased their price target on shares of Wabtec from $318.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Wabtec has a consensus rating of “Moderate Buy” and a consensus target price of $313.36.
Wabtec Stock Down 1.7%
Shares of NYSE WAB opened at $292.28 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.59 and a current ratio of 1.12. Wabtec has a 52-week low of $184.26 and a 52-week high of $306.64. The firm has a 50 day moving average price of $282.66 and a 200 day moving average price of $266.81. The stock has a market cap of $49.37 billion, a P/E ratio of 39.28, a P/E/G ratio of 1.98 and a beta of 0.93.
Wabtec (NYSE:WAB – Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $2.76 EPS for the quarter, topping the consensus estimate of $2.60 by $0.16. The business 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%.The firm’s revenue was up 17.5% compared to the same quarter last year. 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. Analysts expect that Wabtec will post 10.86 EPS for the current year.
Wabtec Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Tuesday, August 18th. Wabtec’s dividend payout ratio (DPR) is presently 16.67%.
Insider Transactions at Wabtec
In other news, CEO Rafael Santana sold 1,163 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $299.04, for a total value of $347,783.52. Following the sale, the chief executive officer directly owned 120,588 shares in the company, valued at $36,060,635.52. The trade was a 0.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Fetsko sold 3,250 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $293.22, for a total value of $952,965.00. Following the transaction, the insider directly owned 37,380 shares of the company’s stock, valued at approximately $10,960,563.60. This trade represents a 8.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 21,036 shares of company stock worth $6,113,542. 0.57% of the stock is currently owned by company insiders.
Wabtec Company 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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