Royal Bank of Canada lifted its stake in Wabtec (NYSE:WAB – Free Report) by 2.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 393,048 shares of the transportation company’s stock after acquiring an additional 10,197 shares during the quarter. Royal Bank of Canada’s holdings in Wabtec were worth $98,226,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the stock. Meeder Advisory Services Inc. increased its holdings in Wabtec by 1.6% in the 1st quarter. Meeder Advisory Services Inc. now owns 2,471 shares of the transportation company’s stock valued at $618,000 after purchasing an additional 38 shares during the last quarter. Hilltop Holdings Inc. lifted its stake in Wabtec by 3.9% during the fourth quarter. Hilltop Holdings Inc. now owns 1,069 shares of the transportation company’s stock worth $228,000 after purchasing an additional 40 shares in the last quarter. Apollon Wealth Management LLC lifted its stake in Wabtec by 1.6% during the first quarter. Apollon Wealth Management LLC now owns 3,081 shares of the transportation company’s stock worth $770,000 after purchasing an additional 48 shares in the last quarter. IHT Wealth Management LLC boosted its position in shares of Wabtec by 1.0% during the fourth quarter. IHT Wealth Management LLC now owns 4,856 shares of the transportation company’s stock worth $1,037,000 after buying an additional 50 shares during the period. Finally, Carnegie Investment Counsel boosted its position in shares of Wabtec by 2.5% during the fourth quarter. Carnegie Investment Counsel now owns 2,051 shares of the transportation company’s stock worth $438,000 after buying an additional 51 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.
Insider Buying and Selling
In other news, CEO Rafael Santana sold 1,163 shares of Wabtec stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $262.07, for a total value of $304,787.41. Following the completion of the transaction, the chief executive officer owned 122,914 shares in the company, valued at approximately $32,212,071.98. This trade represents a 0.94% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP David L. Deninno sold 3,000 shares of the business’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $301.31, for a total value of $903,930.00. Following the transaction, the vice president directly owned 55,128 shares of the company’s stock, valued at approximately $16,610,617.68. This represents a 5.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 16,834 shares of company stock worth $4,833,958 in the last quarter. Company insiders own 0.57% of the company’s stock.
Wabtec Stock Performance
Wabtec (NYSE:WAB – Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $2.76 earnings per share for the quarter, topping analysts’ consensus estimates of $2.60 by $0.16. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.07 billion. Wabtec had a return on equity of 15.10% and a net margin of 10.59%.The company’s revenue was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.27 earnings per share. Wabtec has set its FY 2026 guidance at 10.600-10.900 EPS. On average, research analysts predict that Wabtec will post 10.86 EPS for the current fiscal year.
Wabtec Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be issued a dividend of $0.31 per share. The ex-dividend date is Tuesday, August 18th. This represents a $1.24 annualized dividend and a yield of 0.4%. Wabtec’s dividend payout ratio is 16.67%.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on WAB shares. Stephens boosted their price objective on Wabtec from $320.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Wabtec in a report on Friday, July 17th. Morgan Stanley lifted their target price on Wabtec from $318.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Wall Street Zen upgraded shares of Wabtec from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. Finally, JPMorgan Chase & Co. increased their price target on shares of Wabtec from $300.00 to $315.00 and gave the stock a “neutral” rating in a research 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 data from MarketBeat.com, Wabtec has a consensus rating of “Moderate Buy” and a consensus target price of $310.64.
Check Out Our Latest Research Report on Wabtec
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.
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