Handelsbanken Fonder AB boosted its stake in shares of Wabtec (NYSE:WAB – Free Report) by 40.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 146,676 shares of the transportation company’s stock after acquiring an additional 41,877 shares during the period. Handelsbanken Fonder AB’s holdings in Wabtec were worth $31,308,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. BOKF NA increased its holdings in Wabtec by 66.7% during the 4th quarter. BOKF NA now owns 175 shares of the transportation company’s stock worth $37,000 after purchasing an additional 70 shares during the period. FNY Investment Advisers LLC purchased a new stake in Wabtec during the 4th quarter worth about $42,000. Westfuller Advisors LLC increased its holdings in Wabtec by 83.2% during the 4th quarter. Westfuller Advisors LLC now owns 207 shares of the transportation company’s stock worth $44,000 after purchasing an additional 94 shares during the period. Steigerwald Gordon & Koch Inc. increased its holdings in Wabtec by 258.3% during the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 215 shares of the transportation company’s stock worth $46,000 after purchasing an additional 155 shares during the period. Finally, Salomon & Ludwin LLC increased its holdings in Wabtec by 35.6% during the 4th quarter. Salomon & Ludwin LLC now owns 217 shares of the transportation company’s stock worth $47,000 after purchasing an additional 57 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.
Analysts Set New Price Targets
WAB has been the topic of several recent research reports. Stephens upped their price target on Wabtec from $230.00 to $290.00 and gave the stock an “overweight” rating in a report on Thursday, February 12th. Weiss Ratings restated a “buy (b)” rating on shares of Wabtec in a report on Monday, April 20th. Wall Street Zen downgraded Wabtec from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. KeyCorp upped their price objective on Wabtec from $240.00 to $308.00 and gave the stock an “overweight” rating in a research report on Thursday, February 12th. Finally, Rothschild & Co Redburn raised Wabtec from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $262.00 to $285.00 in a research report on Thursday, March 26th. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $289.82.
Wabtec Trading Down 1.9%
NYSE:WAB opened at $255.31 on Wednesday. The stock has a 50-day simple moving average of $256.23 and a 200-day simple moving average of $236.48. The stock has a market cap of $43.32 billion, a P/E ratio of 36.11, a P/E/G ratio of 1.86 and a beta of 0.97. Wabtec has a 1 year low of $184.26 and a 1 year high of $275.84. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.54 and a current ratio of 1.02.
Wabtec (NYSE:WAB – Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The transportation company reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.09. The business had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Wabtec had a return on equity of 14.52% and a net margin of 10.52%.The business’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.28 EPS. Wabtec has set its FY 2026 guidance at 10.250-10.650 EPS. As a group, analysts anticipate that Wabtec will post 10.61 earnings per share for the current fiscal year.
Wabtec Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Friday, May 22nd will be given a $0.31 dividend. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.5%. Wabtec’s dividend payout ratio is 17.54%.
Wabtec announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 11th that permits the company to repurchase $1.20 billion in shares. This repurchase authorization permits the transportation company to repurchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
Insider Transactions at Wabtec
In related news, EVP Gina Trombley sold 4,013 shares of the company’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $241.87, for a total value of $970,624.31. Following the completion of the sale, the executive vice president directly owned 13,841 shares of the company’s stock, valued at $3,347,722.67. This represents a 22.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nalin Jain sold 7,936 shares of the company’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $264.09, for a total value of $2,095,818.24. Following the completion of the sale, the insider directly owned 6,364 shares of the company’s stock, valued at approximately $1,680,668.76. This trade represents a 55.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 91,729 shares of company stock worth $24,387,500. 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.
Featured Articles
- Five stocks we like better than Wabtec
- HIVE Weaponizes Power for an AI Pivot
- A Deep Dive Into NVIDIA’s Latest Portfolio Moves
- Brady Corp Wires Up a Massive AI-Powered Breakout
- Why Home Depot’s Sell-Off Could Become a Huge Opportunity
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.
