Natixis Advisors LLC lifted its stake in shares of Wabtec (NYSE:WAB – Free Report) by 2.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 107,689 shares of the transportation company’s stock after acquiring an additional 2,818 shares during the quarter. Natixis Advisors LLC’s holdings in Wabtec were worth $22,986,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of WAB. Norges Bank purchased a new position in shares of Wabtec during the fourth quarter worth approximately $409,039,000. Nordea Investment Management AB increased its position in shares of Wabtec by 55.5% during the fourth quarter. Nordea Investment Management AB now owns 3,069,340 shares of the transportation company’s stock worth $659,939,000 after acquiring an additional 1,095,083 shares during the period. Farallon Capital Management LLC increased its position in shares of Wabtec by 68.6% during the third quarter. Farallon Capital Management LLC now owns 2,205,098 shares of the transportation company’s stock worth $442,056,000 after acquiring an additional 896,900 shares during the period. UBS Group AG increased its position in shares of Wabtec by 194.2% during the third quarter. UBS Group AG now owns 1,033,304 shares of the transportation company’s stock worth $207,146,000 after acquiring an additional 682,048 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of Wabtec by 76.3% during the third quarter. AQR Capital Management LLC now owns 1,229,270 shares of the transportation company’s stock worth $245,534,000 after acquiring an additional 532,121 shares during the period. 91.69% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on WAB. Jefferies Financial Group reiterated a “buy” rating and set a $290.00 price objective (down from $300.00) on shares of Wabtec in a research note on Tuesday, March 31st. Stephens increased their price objective on shares of Wabtec from $230.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, February 12th. JPMorgan Chase & Co. dropped their price objective on shares of Wabtec from $290.00 to $280.00 and set a “neutral” rating on the stock in a research note on Friday, April 10th. Susquehanna reiterated a “positive” rating and set a $305.00 price objective on shares of Wabtec in a research note on Thursday, April 23rd. Finally, Wells Fargo & Company increased their price objective on shares of Wabtec from $270.00 to $284.00 and gave the company an “equal weight” rating in a research note on Thursday, April 23rd. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Wabtec presently has an average rating of “Moderate Buy” and an average price target of $289.82.
Insider Activity at Wabtec
In other Wabtec news, EVP Gina Trombley sold 4,013 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The shares were 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 in the company, valued at $3,347,722.67. This trade represents a 22.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Rafael Santana sold 1,163 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $263.77, for a total transaction of $306,764.51. Following the completion of the sale, the chief executive officer owned 127,566 shares of the company’s stock, valued at approximately $33,648,083.82. This trade represents a 0.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 67,191 shares of company stock valued at $17,922,608. 0.57% of the stock is owned by insiders.
Wabtec Price Performance
NYSE WAB opened at $260.77 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.54 and a current ratio of 1.02. The firm’s 50 day moving average price is $261.06 and its 200-day moving average price is $241.22. Wabtec has a 52-week low of $184.26 and a 52-week high of $275.84. The company has a market cap of $44.25 billion, a PE ratio of 36.88, a P/E/G ratio of 1.88 and a beta of 0.94.
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, beating analysts’ consensus estimates of $2.62 by $0.09. The firm had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $3.08 billion. Wabtec had a net margin of 10.52% and a return on equity of 14.52%. The company’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period last year, the firm earned $2.28 earnings per share. Wabtec has set its FY 2026 guidance at 10.250-10.650 EPS. Sell-side analysts forecast that Wabtec will post 10.61 EPS for the current fiscal year.
Wabtec Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Friday, May 22nd were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 0.5%. The ex-dividend date was Friday, May 22nd. Wabtec’s dividend payout ratio (DPR) is 17.54%.
Wabtec announced that its Board of Directors has authorized a stock buyback 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 stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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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