Axxcess Wealth Management LLC Buys New Position in Wabtec $WAB

Key Points

• Axxcess Wealth Management purchased 5,913 Wabtec shares worth approximately $1.59 million, while institutional investors collectively own 91.69% of the company.
• Analysts maintain a generally positive outlook, with 10 Buy ratings and two Holds, producing a consensus “Moderate Buy” rating and an average price target of $313.36.
• Wabtec exceeded quarterly earnings and revenue expectations, reporting $2.76 in EPS and $3.18 billion in revenue, up 17.5% year over year; it also declared a quarterly dividend of $0.31 per share.

Axxcess Wealth Management LLC purchased a new position in shares of Wabtec (NYSE:WAB - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 5,913 shares of the transportation company's stock, valued at approximately $1,594,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Meeder Advisory Services Inc. raised its position in shares of Wabtec by 1.6% in the first quarter. Meeder Advisory Services Inc. now owns 2,471 shares of the transportation company's stock valued at $618,000 after buying an additional 38 shares during the last quarter. Hilltop Holdings Inc. raised its holdings in Wabtec by 3.9% in the 4th quarter. Hilltop Holdings Inc. now owns 1,069 shares of the transportation company's stock valued at $228,000 after acquiring an additional 40 shares during the last quarter. Apollon Wealth Management LLC grew its position in shares of Wabtec by 1.6% in the first quarter. Apollon Wealth Management LLC now owns 3,081 shares of the transportation company's stock valued at $770,000 after purchasing an additional 48 shares during the period. IHT Wealth Management LLC increased its stake in Wabtec by 1.0% in the fourth quarter. IHT Wealth Management LLC now owns 4,856 shares of the transportation company's stock valued at $1,037,000 after purchasing an additional 50 shares during the last quarter. Finally, DGS Capital Management LLC increased its stake in Wabtec by 5.2% in the first quarter. DGS Capital Management LLC now owns 1,051 shares of the transportation company's stock valued at $263,000 after purchasing an additional 52 shares during the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on WAB. JPMorgan Chase & Co. raised their price target on Wabtec from $300.00 to $315.00 and gave the stock a "neutral" rating in a research note on Thursday, July 23rd. Wall Street Zen lowered shares of Wabtec from a "buy" rating to a "hold" rating in a research report on Sunday, August 2nd. Weiss Ratings reissued a "buy (b)" rating on shares of Wabtec in a research note on Friday, July 17th. Morgan Stanley increased their target price on Wabtec from $318.00 to $355.00 and gave the stock an "overweight" rating in a research report on Thursday, July 23rd. Finally, KeyCorp lifted their target price on Wabtec from $308.00 to $340.00 and gave the company an "overweight" rating in a report on Thursday, July 23rd. Ten investment analysts have rated the stock with a Buy rating and two have issued 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 $313.36.

Wabtec Stock Performance

Wabtec stock opened at $297.93 on Friday. The stock's 50 day moving average price is $276.02 and its 200 day moving average price is $262.26. The firm has a market capitalization of $50.32 billion, a PE ratio of 40.04, a price-to-earnings-growth ratio of 2.00 and a beta of 0.93. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.59 and a current ratio of 1.12. Wabtec has a one year low of $184.26 and a one year high of $306.64.

Wabtec (NYSE:WAB - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The transportation company reported $2.76 EPS 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 analysts' expectations of $3.07 billion. Wabtec had a net margin of 10.59% and a return on equity of 15.10%. The business's revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.27 earnings per share. Wabtec has set its FY 2026 guidance at 10.600-10.900 EPS. As a group, sell-side analysts expect that Wabtec will post 10.86 EPS for the current fiscal year.

Wabtec Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be issued a $0.31 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $1.24 dividend on an annualized basis and a yield of 0.4%. Wabtec's payout ratio is currently 16.67%.

Insider Activity

In other Wabtec news, insider Sameer Gaur sold 1,082 shares of the company's stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $263.50, for a total value of $285,107.00. Following the transaction, the insider directly owned 11,985 shares of the company's stock, valued at $3,158,047.50. This represents a 8.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 value of $2,124,817.00. Following the transaction, the chief technology officer owned 19,153 shares of the company's stock, valued at approximately $5,731,918.31. This trade represents a 27.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 16,834 shares of company stock worth $4,874,977. 0.57% of the stock is owned by corporate insiders.

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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