Assenagon Asset Management S.A. Buys 632,218 Shares of Wabtec $WAB

Key Points

• Assenagon Asset Management sharply increased its Wabtec stake by 288% in the first quarter, buying 632,218 additional shares and bringing its holding to 851,733 shares valued at about $212.9 million.
• Wabtec’s latest earnings beat expectations, with Q1 EPS of $2.71 topping estimates, while revenue rose 13% year over year to $2.95 billion despite coming in below forecasts.
• Analyst sentiment remains constructive: Wabtec has a Moderate Buy consensus rating and an average price target of $289.82, while the stock recently traded near its 12-month high at $272.64.

Assenagon Asset Management S.A. boosted its stake in Wabtec (NYSE:WAB - Free Report) by 288.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 851,733 shares of the transportation company's stock after purchasing an additional 632,218 shares during the period. Assenagon Asset Management S.A. owned about 0.50% of Wabtec worth $212,857,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WAB. Guggenheim Capital LLC increased its stake in shares of 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 period. Bank of Nova Scotia grew its stake in shares of 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 purchasing an additional 97 shares during the last quarter. Nebula Research & Development LLC increased its holdings in Wabtec by 208.7% during the 2nd quarter. Nebula Research & Development LLC now owns 5,386 shares of the transportation company's stock valued at $1,128,000 after purchasing an additional 3,641 shares during the period. Treasurer of the State of North Carolina increased its holdings in Wabtec by 11.6% during the 2nd quarter. Treasurer of the State of North Carolina now owns 92,097 shares of the transportation company's stock valued at $19,281,000 after purchasing an additional 9,545 shares during the period. Finally, Ieq Capital LLC raised its position in Wabtec by 19.2% during the 2nd quarter. Ieq Capital LLC now owns 30,352 shares of the transportation company's stock valued at $6,354,000 after purchasing an additional 4,889 shares during the last quarter. Institutional investors own 91.69% of the company's stock.

Insider Transactions at Wabtec

In other Wabtec news, CEO Rafael Santana sold 1,163 shares of the firm's stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $261.06, for a total transaction of $303,612.78. Following the completion of the transaction, the chief executive officer owned 124,077 shares of the company's stock, valued at approximately $32,391,541.62. This trade represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sameer Gaur sold 1,082 shares of Wabtec stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $263.50, for a total transaction of $285,107.00. Following the transaction, the insider owned 11,985 shares of the company's stock, valued at $3,158,047.50. The trade was a 8.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 65,423 shares of company stock worth $17,562,278. Corporate insiders own 0.57% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on WAB shares. Wells Fargo & Company increased their price objective on Wabtec from $270.00 to $284.00 and gave the stock an "equal weight" rating in a report on Thursday, April 23rd. Wall Street Zen cut Wabtec from a "buy" rating to a "hold" rating in a research note on Saturday, March 14th. Rothschild & Co Redburn raised shares of Wabtec from a "neutral" rating to a "buy" rating and raised their target price for the stock from $262.00 to $285.00 in a research report on Thursday, March 26th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Wabtec in a research report on Monday, April 20th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $290.00 target price (down from $300.00) on shares of Wabtec in a research note on Tuesday, March 31st. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $289.82.

Wabtec Price Performance

Shares of WAB stock opened at $272.64 on Thursday. The stock has a market cap of $46.26 billion, a price-to-earnings ratio of 38.56, a PEG ratio of 1.93 and a beta of 0.94. The business's fifty day moving average is $264.37 and its 200 day moving average is $247.31. Wabtec has a twelve month low of $184.26 and a twelve month high of $278.98. The company has a quick ratio of 0.54, a current ratio of 1.02 and a debt-to-equity ratio of 0.42.

Wabtec (NYSE:WAB - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The transportation company reported $2.71 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 analysts' expectations 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 quarter in the previous year, the business posted $2.28 EPS. Wabtec has set its FY 2026 guidance at 10.250-10.650 EPS. Research analysts expect that Wabtec will post 10.61 EPS for the current fiscal year.

Wabtec Announces Dividend

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

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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