Cerity Partners LLC lifted its stake in Wabtec (NYSE:WAB – Free Report) by 5.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 158,660 shares of the transportation company’s stock after acquiring an additional 8,032 shares during the period. Cerity Partners LLC’s holdings in Wabtec were worth $33,866,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Manchester Capital Management LLC lifted its stake in shares of Wabtec by 122.0% in the fourth quarter. Manchester Capital Management LLC now owns 131 shares of the transportation company’s stock valued at $28,000 after buying an additional 72 shares during the period. BOKF NA lifted its stake in shares of Wabtec by 66.7% in the fourth quarter. BOKF NA now owns 175 shares of the transportation company’s stock valued at $37,000 after buying an additional 70 shares during the period. FNY Investment Advisers LLC bought a new stake in shares of Wabtec in the fourth quarter valued at about $42,000. Westfuller Advisors LLC lifted its stake in shares of Wabtec by 83.2% in the fourth quarter. Westfuller Advisors LLC now owns 207 shares of the transportation company’s stock valued at $44,000 after buying an additional 94 shares during the period. Finally, Steigerwald Gordon & Koch Inc. lifted its stake in shares of Wabtec by 258.3% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 215 shares of the transportation company’s stock valued at $46,000 after buying an additional 155 shares during the period. Institutional investors own 91.69% of the company’s stock.
Insider Activity
In other news, CEO Rafael Santana sold 60,852 shares of Wabtec stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $268.89, for a total value of $16,362,494.28. Following the completion of the transaction, the chief executive officer owned 128,729 shares in the company, valued at approximately $34,613,940.81. The trade was a 32.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 64,341 shares of company stock valued at $17,277,171 in the last three months. Insiders own 0.57% of the company’s stock.
Wabtec Stock Down 3.4%
Wabtec (NYSE:WAB – Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The transportation company reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.09. Wabtec had a net margin of 10.52% and a return on equity of 14.52%. The firm had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter last year, the company earned $2.28 earnings per share. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. Wabtec has set its FY 2026 guidance at 10.250-10.650 EPS. Equities analysts predict that Wabtec will post 10.61 EPS for the current fiscal year.
Wabtec declared that its board 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 reacquire up to 2.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
Wabtec Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Friday, May 22nd were paid a $0.31 dividend. The ex-dividend date was Friday, May 22nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.5%. Wabtec’s payout ratio is 17.54%.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on WAB. Stephens increased their target price 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. Wall Street Zen cut shares of Wabtec from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Citigroup raised their price target on shares of Wabtec from $283.00 to $292.00 and gave the stock a “buy” rating in a research note on Thursday, April 9th. Weiss Ratings restated a “buy (b)” rating on shares of Wabtec in a research note on Monday, April 20th. Finally, Morgan Stanley restated an “overweight” rating and set a $318.00 price target on shares of Wabtec in a research note on Monday, April 27th. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Wabtec currently has an average rating of “Moderate Buy” and a consensus price target of $289.82.
Get Our Latest Research Report on Wabtec
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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