B. Metzler seel. Sohn & Co. AG lowered its stake in shares of Wabtec (NYSE:WAB - Free Report) by 14.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 91,473 shares of the transportation company's stock after selling 15,328 shares during the quarter. B. Metzler seel. Sohn & Co. AG owned about 0.05% of Wabtec worth $24,661,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. grew its holdings in Wabtec by 5.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 85,485 shares of the transportation company's stock valued at $18,247,000 after buying an additional 4,266 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Wabtec by 24,274.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 323,936 shares of the transportation company's stock worth $69,144,000 after buying an additional 322,607 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Wabtec by 16.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 925,021 shares of the transportation company's stock worth $197,446,000 after buying an additional 132,091 shares during the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Wabtec in the fourth quarter valued at approximately $2,134,000. Finally, Pinnbrook Capital Management LP bought a new stake in shares of Wabtec in the fourth quarter valued at approximately $7,743,000. Institutional investors and hedge funds own 91.69% of the company's stock.
Insiders Place Their Bets
In other Wabtec news, CEO Rafael Santana sold 1,163 shares of the company's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $299.04, for a total value of $347,783.52. Following the sale, the chief executive officer directly owned 120,588 shares in the company, valued at $36,060,635.52. This represents a 0.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Eric Gebhardt sold 7,100 shares of the stock in a transaction on Friday, July 24th. The stock was 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 $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. Insiders have sold 21,036 shares of company stock worth $6,113,542 over the last quarter. Corporate insiders own 0.57% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have issued reports on the stock. 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 reaffirmed a "buy (b)" rating on shares of Wabtec in a research report on Friday, July 17th. Morgan Stanley increased their target price on shares of Wabtec from $318.00 to $355.00 and gave the company an "overweight" rating in a research note on Thursday, July 23rd. Citigroup increased their target price on shares of Wabtec from $311.00 to $341.00 and gave the company a "buy" rating in a research note on Thursday, August 13th. Finally, KeyCorp lifted their target price on Wabtec from $308.00 to $340.00 and gave the stock an "overweight" rating in a research report on Thursday, July 23rd. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $313.36.
Check Out Our Latest Stock Analysis on WAB
Wabtec Trading Up 0.1%
Shares of WAB stock opened at $279.95 on Thursday. The firm has a fifty day moving average of $283.17 and a 200-day moving average of $267.61. The stock has a market cap of $47.29 billion, a price-to-earnings ratio of 37.63, a P/E/G ratio of 1.89 and a beta of 0.92. Wabtec has a 52-week low of $184.26 and a 52-week high of $306.64. 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 (NYSE:WAB - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The transportation company reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.60 by $0.16. Wabtec had a net margin of 10.59% and a return on equity of 15.10%. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.07 billion. During the same period in the previous year, the business earned $2.27 EPS. The firm'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, equities research analysts forecast that Wabtec will post 10.86 earnings per share for the current fiscal year.
Wabtec Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th were paid a $0.31 dividend. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $1.24 annualized dividend and a yield of 0.4%. Wabtec's payout ratio is currently 16.67%.
Wabtec Profile
(
Free Report)
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.
Further Reading
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.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Wabtec, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Wabtec wasn't on the list.
While Wabtec currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The AI boom is creating opportunities across semiconductors, cloud computing, enterprise software, infrastructure, cybersecurity, and automation.
Inside this report, you’ll find 10 companies positioned to benefit as artificial intelligence moves from hype to real-world deployment and becomes a core growth driver for corporate America.
Get This Free Report
