Hsbc Holdings PLC lessened its holdings in shares of Wabtec (NYSE:WAB – Free Report) by 3.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 338,531 shares of the transportation company’s stock after selling 13,238 shares during the quarter. Hsbc Holdings PLC’s holdings in Wabtec were worth $91,265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. grew its stake in shares of Wabtec by 5.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 85,485 shares of the transportation company’s stock valued at $18,247,000 after acquiring an additional 4,266 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Wabtec by 24,274.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 323,936 shares of the transportation company’s stock worth $69,144,000 after acquiring an additional 322,607 shares during the period. Goldman Sachs Group Inc. raised its stake in Wabtec by 16.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 925,021 shares of the transportation company’s stock worth $197,446,000 after acquiring an additional 132,091 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Wabtec during the fourth quarter valued at approximately $2,134,000. Finally, Pinnbrook Capital Management LP purchased a new position in Wabtec during the fourth quarter valued at approximately $7,743,000. Institutional investors own 91.69% of the company’s stock.
Insider Buying and Selling
In other news, insider Sameer Gaur sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $300.64, for a total transaction of $300,640.00. Following the sale, the insider directly owned 10,985 shares of the company’s stock, valued at $3,302,530.40. This represents a 8.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gregory Sbrocco sold 952 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $300.00, for a total value of $285,600.00. Following the transaction, the executive vice president owned 21,043 shares of the company’s stock, valued at $6,312,900. This represents a 4.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 18,710 shares of company stock valued at $5,505,630 in the last ninety days. Company insiders own 0.57% of the company’s stock.
Wabtec Stock Performance
Wabtec (NYSE:WAB – Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $2.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 10.59% and a return on equity of 15.10%. Wabtec’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.27 EPS. Wabtec has set its FY 2026 guidance at 10.600-10.900 EPS. As a group, sell-side analysts forecast that Wabtec will post 10.86 earnings per share for the current fiscal year.
Wabtec Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Tuesday, August 18th. Wabtec’s payout ratio is 16.67%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on WAB. KeyCorp increased their price objective on shares of Wabtec from $308.00 to $340.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Wall Street Zen downgraded shares of Wabtec from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Susquehanna increased their price target on Wabtec from $305.00 to $340.00 and gave the stock a “positive” rating in a research note on Thursday, July 23rd. Wells Fargo & Company raised their price target on Wabtec from $284.00 to $315.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. Finally, Citigroup boosted their price objective on Wabtec from $311.00 to $341.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $313.36.
Check Out Our Latest Stock Report on Wabtec
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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