Bank of New York Mellon Corp bought a new position in shares of Wabtec (NYSE:WAB - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 788,917 shares of the transportation company's stock, valued at approximately $212,692,000. Bank of New York Mellon Corp owned 0.47% of Wabtec at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Whipplewood Advisors LLC purchased a new stake in shares of Wabtec during the 1st quarter worth $25,000. Clal Insurance Enterprises Holdings Ltd increased its holdings in shares of Wabtec by 125.9% in the 4th 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 in the last quarter. Manchester Capital Management LLC lifted its stake 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 period. McMillan Office Inc. acquired a new stake in shares of Wabtec in the fourth quarter valued at about $31,000. Finally, Reflection Asset Management purchased a new stake in Wabtec during the fourth quarter worth about $35,000. 91.69% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on WAB. JPMorgan Chase & Co. lifted their price target on shares of Wabtec from $300.00 to $315.00 and gave the company a "neutral" rating in a research report on Thursday, July 23rd. Susquehanna upped their price target on Wabtec from $305.00 to $340.00 and gave the stock a "positive" rating in a report on Thursday, July 23rd. Stephens raised their price objective on Wabtec from $320.00 to $330.00 and gave the company an "overweight" rating in a research note on Thursday, July 23rd. Wells Fargo & Company lifted their price objective on Wabtec from $284.00 to $315.00 and gave the stock an "equal weight" rating in a report on Thursday, July 23rd. Finally, KeyCorp boosted 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. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $313.36.
Check Out Our Latest Analysis on Wabtec
Wabtec Stock Performance
NYSE WAB opened at $298.10 on Friday. The business's 50-day moving average price is $280.20 and its 200 day moving average price is $264.80. The company has a current ratio of 1.12, a quick ratio of 0.59 and a debt-to-equity ratio of 0.44. Wabtec has a twelve month low of $184.26 and a twelve month high of $306.64. The company has a market capitalization of $50.35 billion, a PE ratio of 40.07, a price-to-earnings-growth ratio of 2.02 and a beta of 0.93.
Wabtec (NYSE:WAB - Get Free Report) last released its earnings results on Wednesday, July 22nd. The transportation company reported $2.76 earnings per share (EPS) for the quarter, beating 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 firm 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 earned $2.27 earnings per share. Wabtec's revenue was up 17.5% compared to the same quarter last year. Wabtec has set its FY 2026 guidance at 10.600-10.900 EPS. On average, research analysts predict that Wabtec will post 10.86 earnings per share for the current year.
Wabtec Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.24 annualized dividend and a dividend yield of 0.4%. Wabtec's payout ratio is currently 16.67%.
Insider Buying and Selling at Wabtec
In related news, CEO Rafael Santana sold 1,163 shares of Wabtec 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 transaction, the chief executive officer owned 120,588 shares in the company, valued at approximately $36,060,635.52. This trade represents a 0.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gregory Sbrocco sold 952 shares of the business's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $300.00, for a total value of $285,600.00. Following the sale, the executive vice president directly owned 21,043 shares of the company's stock, valued at approximately $6,312,900. This trade represents a 4.33% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 21,036 shares of company stock worth $6,113,542. 0.57% of the stock is currently owned by company insiders.
Wabtec Company Profile
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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.
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