Amundi Purchases 482,323 Shares of Wabtec $WAB

Key Points

• Amundi increased its Wabtec position by 43.9% in the second quarter, purchasing 482,323 shares and bringing its holdings to 1.58 million shares valued at approximately $426.2 million. Institutional investors collectively own 91.69% of the company.
• Analysts maintain a favorable outlook, with 10 Buy ratings and two Holds, a consensus “Moderate Buy” rating, and an average price target of $313.36.
• Wabtec exceeded quarterly expectations with earnings of $2.76 per share and revenue of $3.18 billion, up 17.5% year over year. The company also declared a $0.31 quarterly dividend, equivalent to a 0.4% annual yield.

Amundi lifted its position in Wabtec (NYSE:WAB - Free Report) by 43.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,580,919 shares of the transportation company's stock after buying an additional 482,323 shares during the quarter. Amundi owned about 0.94% of Wabtec worth $426,216,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Whipplewood Advisors LLC acquired a new position in Wabtec during the 1st quarter worth $25,000. Meeder Asset Management Inc. acquired a new stake in shares of Wabtec in the second quarter valued at about $26,000. Clal Insurance Enterprises Holdings Ltd grew its position in shares of Wabtec by 125.9% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 131 shares of the transportation company's stock valued at $28,000 after purchasing an additional 73 shares during the last quarter. Manchester Capital Management LLC grew its position 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 purchasing an additional 72 shares during the last quarter. Finally, Bell Investment Advisors Inc bought a new position in shares of Wabtec in the second quarter worth about $29,000. 91.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Susquehanna increased their price objective on Wabtec from $305.00 to $340.00 and gave the company a "positive" rating in a research report on Thursday, July 23rd. Wall Street Zen downgraded Wabtec from a "buy" rating to a "hold" rating in a research report on Sunday, August 2nd. Wells Fargo & Company upped their price target on Wabtec from $284.00 to $315.00 and gave the company an "equal weight" rating in a report on Thursday, July 23rd. JPMorgan Chase & Co. raised their target price on Wabtec from $300.00 to $315.00 and gave the stock a "neutral" rating in a research report on Thursday, July 23rd. Finally, Stephens upped their target price on shares of Wabtec from $320.00 to $330.00 and gave the company an "overweight" rating in a research note on Thursday, July 23rd. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Wabtec currently has a consensus rating of "Moderate Buy" and a consensus target price of $313.36.

Wabtec Stock Performance

Wabtec stock opened at $282.25 on Tuesday. The company has a quick ratio of 0.59, a current ratio of 1.12 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $47.67 billion, a price-to-earnings ratio of 37.94, a P/E/G ratio of 1.92 and a beta of 0.92. Wabtec has a 12-month low of $184.26 and a 12-month high of $306.64. The stock has a 50-day simple moving average of $283.62 and a 200 day simple moving average of $268.12.

Wabtec (NYSE:WAB - Get Free Report) last announced its earnings results 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. Wabtec had a net margin of 10.59% and a return on equity of 15.10%. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.07 billion. During the same period in the previous year, the firm posted $2.27 earnings per share. The company's revenue was up 17.5% on a year-over-year basis. Wabtec has set its FY 2026 guidance at 10.600-10.900 EPS. On average, research analysts anticipate that Wabtec will post 10.86 earnings per share for the current fiscal year.

Wabtec Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th were issued a $0.31 dividend. The ex-dividend date was Tuesday, August 18th. This represents a $1.24 annualized dividend and a yield of 0.4%. Wabtec's dividend payout ratio (DPR) is currently 16.67%.

Insider Activity at Wabtec

In other news, insider Michael Fetsko sold 3,250 shares of the firm's stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $293.22, for a total value of $952,965.00. Following the transaction, the insider owned 37,380 shares of the company's stock, valued at approximately $10,960,563.60. This trade represents a 8.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Eric Gebhardt sold 7,100 shares of the stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $299.27, for a total transaction of $2,124,817.00. Following the completion of the transaction, the chief technology officer owned 19,153 shares in the company, valued at $5,731,918.31. This represents a 27.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 18,710 shares of company stock worth $5,505,630. Insiders own 0.57% of the company's stock.

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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