California State Teachers Retirement System grew its position in shares of Wabtec (NYSE:WAB – Free Report) by 24,510.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 69,374,550 shares of the transportation company’s stock after acquiring an additional 69,092,660 shares during the quarter. California State Teachers Retirement System owned 0.41% of Wabtec worth $18,703,379,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Guggenheim Capital LLC boosted its holdings in Wabtec by 7.4% during the second quarter. Guggenheim Capital LLC now owns 4,938 shares of the transportation company’s stock worth $1,034,000 after purchasing an additional 342 shares during the last quarter. Bank of Nova Scotia increased its stake in Wabtec by 0.5% in the 2nd quarter. Bank of Nova Scotia now owns 17,890 shares of the transportation company’s stock valued at $3,745,000 after buying an additional 97 shares during the last quarter. Nebula Research & Development LLC lifted its position in Wabtec by 208.7% during the 2nd quarter. Nebula Research & Development LLC now owns 5,386 shares of the transportation company’s stock worth $1,128,000 after buying an additional 3,641 shares in the last quarter. Treasurer of the State of North Carolina boosted its stake in shares of Wabtec by 11.6% during the 2nd quarter. Treasurer of the State of North Carolina now owns 92,097 shares of the transportation company’s stock worth $19,281,000 after buying an additional 9,545 shares during the last quarter. Finally, Ieq Capital LLC grew its holdings in shares of Wabtec by 19.2% in the 2nd quarter. Ieq Capital LLC now owns 30,352 shares of the transportation company’s stock valued at $6,354,000 after acquiring an additional 4,889 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the company. Wells Fargo & Company lifted their target price on Wabtec from $284.00 to $315.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. Susquehanna raised their price target on Wabtec from $305.00 to $340.00 and gave the company a “positive” 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 report on Sunday, August 2nd. JPMorgan Chase & Co. upped their price objective on Wabtec from $300.00 to $315.00 and gave the stock a “neutral” rating in a research note on Thursday, July 23rd. Finally, Morgan Stanley increased their price objective on Wabtec from $318.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $313.36.
Wabtec Price Performance
NYSE:WAB opened at $282.25 on Tuesday. Wabtec has a 12-month low of $184.26 and a 12-month high of $306.64. The firm has a market capitalization of $47.67 billion, a price-to-earnings ratio of 37.94, a P/E/G ratio of 1.92 and a beta of 0.92. The stock’s 50 day moving average price is $283.62 and its two-hundred day moving average price is $268.12. The company has a quick ratio of 0.59, a current ratio of 1.12 and a debt-to-equity ratio of 0.44.
Wabtec (NYSE:WAB – Get Free Report) last issued its earnings results 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 company had revenue of $3.18 billion during 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 for the quarter was up 17.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.27 EPS. Wabtec has set its FY 2026 guidance at 10.600-10.900 EPS. On average, analysts anticipate that Wabtec will post 10.86 earnings per share for the current year.
Wabtec Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Tuesday, August 18th. Wabtec’s payout ratio is 16.67%.
Insider Transactions at Wabtec
In related news, VP David Deninno sold 3,000 shares of the company’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $301.31, for a total value of $903,930.00. Following the transaction, the vice president owned 55,128 shares in the company, valued at approximately $16,610,617.68. This represents a 5.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Eric Gebhardt sold 7,100 shares of the stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $299.27, for a total transaction of $2,124,817.00. Following the completion of the transaction, the chief technology officer directly owned 19,153 shares in the company, valued at approximately $5,731,918.31. This represents a 27.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 18,710 shares of company stock valued at $5,505,630. Corporate insiders own 0.57% of the company’s stock.
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.
Read More
- Five stocks we like better than Wabtec
- 3 Under-the-Radar Defense Stocks With Record Backlogs
- This Korea ETF Has Soared, But the Rally May Not Be Over
- Why Guidewire’s Post-Earnings Plunge May Not Last
- Ride-Share Reckoning: Tesla Drives Into Uber’s Lane
Want to see what other hedge funds are holding WAB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wabtec (NYSE:WAB – Free Report).
Receive News & Ratings for Wabtec Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wabtec and related companies with MarketBeat.com's FREE daily email newsletter.
