453,245 Shares in Wabtec $WAB Acquired by Pinebridge Investments LLC

Key Points

• Pinebridge Investments LLC opened a new position in Wabtec during the fourth quarter, buying 453,245 shares worth about $96.7 million. The stake represented roughly 0.27% of Wabtec and 0.7% of Pinebridge’s portfolio.
• Wabtec reported better-than-expected quarterly EPS of $2.71, though revenue of $2.95 billion came in below estimates. The company also raised its FY 2026 guidance to $10.25-$10.65 EPS.
• The company has authorized a $1.2 billion share repurchase plan and paid a quarterly dividend of $0.31 per share. Meanwhile, several analysts remain bullish, with a consensus rating of Moderate Buy and a target price of about $289.82.

Pinebridge Investments LLC acquired a new position in Wabtec (NYSE:WAB - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 453,245 shares of the transportation company's stock, valued at approximately $96,745,000. Wabtec comprises approximately 0.7% of Pinebridge Investments LLC's holdings, making the stock its 29th largest position. Pinebridge Investments LLC owned 0.27% of Wabtec at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in WAB. Guggenheim Capital LLC increased its holdings in Wabtec by 7.4% in the second quarter. Guggenheim Capital LLC now owns 4,938 shares of the transportation company's stock worth $1,034,000 after buying an additional 342 shares during the last quarter. Bank of Nova Scotia increased its holdings in Wabtec by 0.5% in the second quarter. Bank of Nova Scotia now owns 17,890 shares of the transportation company's stock worth $3,745,000 after buying an additional 97 shares during the last quarter. Nebula Research & Development LLC increased its holdings in Wabtec by 208.7% in the second 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 during the last quarter. Treasurer of the State of North Carolina increased its holdings in Wabtec by 11.6% in the second 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 increased its holdings in Wabtec by 19.2% in the second quarter. Ieq Capital LLC now owns 30,352 shares of the transportation company's stock worth $6,354,000 after buying an additional 4,889 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company's stock.

Insider Activity at Wabtec

In other news, EVP Gina Trombley sold 4,013 shares of the stock in a transaction that occurred on 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 approximately $3,347,722.67. This represents a 22.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Rafael Santana sold 1,163 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $263.77, for a total value of $306,764.51. Following the completion of the sale, the chief executive officer directly owned 127,566 shares of the company's stock, valued at $33,648,083.82. This represents a 0.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 67,191 shares of company stock valued at $17,922,608 over the last three months. 0.57% of the stock is owned by company insiders.

Wabtec Stock Down 0.7%

Shares of Wabtec stock opened at $260.77 on Friday. The stock has a market capitalization of $44.25 billion, a P/E ratio of 36.88, a PEG ratio of 1.88 and a beta of 0.94. The company has a quick ratio of 0.54, a current ratio of 1.02 and a debt-to-equity ratio of 0.42. The stock has a 50 day moving average price of $261.06 and a two-hundred day moving average price of $241.22. Wabtec has a 12-month low of $184.26 and a 12-month high of $275.84.

Wabtec (NYSE:WAB - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The transportation company reported $2.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.62 by $0.09. The firm 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 company's revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.28 earnings per share. Wabtec has set its FY 2026 guidance at 10.250-10.650 EPS. Equities analysts expect that Wabtec will post 10.61 earnings per share for the current year.

Wabtec announced that its board has authorized a stock repurchase plan on Wednesday, February 11th that allows the company to repurchase $1.20 billion in shares. This repurchase authorization allows the transportation company to repurchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Wabtec Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Friday, May 22nd were given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, May 22nd. Wabtec's dividend payout ratio is currently 17.54%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Morgan Stanley restated an "overweight" rating and issued a $318.00 price objective on shares of Wabtec in a report on Monday, April 27th. Jefferies Financial Group restated a "buy" rating and issued a $290.00 price objective (down from $300.00) on shares of Wabtec in a report on Tuesday, March 31st. KeyCorp upped their target price on Wabtec from $240.00 to $308.00 and gave the stock an "overweight" rating in a research report on Thursday, February 12th. Wolfe Research reaffirmed an "outperform" rating and set a $303.00 target price on shares of Wabtec in a research report on Thursday, April 23rd. Finally, Rothschild & Co Redburn raised Wabtec from a "neutral" rating to a "buy" rating and upped their target price for the stock from $262.00 to $285.00 in a research report on Thursday, March 26th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $289.82.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.