BlackRock Inc. Takes Position in Wabtec $WAB

Key Points

• BlackRock acquired 13.88 million Wabtec shares worth approximately $3.74 billion, giving it an 8.22% stake. Institutional investors collectively own 91.69% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $313.36; Citigroup recently raised its target to $341.
• Wabtec exceeded quarterly expectations with $2.76 in earnings per share and $3.18 billion in revenue, while shares recently traded at $295.34. The company also declared a quarterly dividend of $0.31 per share.

BlackRock Inc. acquired a new stake in shares of Wabtec (NYSE:WAB - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,876,398 shares of the transportation company's stock, valued at approximately $3,741,077,000. BlackRock Inc. owned approximately 8.22% of Wabtec as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its holdings in shares of Wabtec by 20.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,965,503 shares of the transportation company's stock valued at $1,700,238,000 after acquiring an additional 1,344,744 shares in the last quarter. State Street Corp boosted its holdings in Wabtec by 2.6% in the 4th quarter. State Street Corp now owns 7,658,040 shares of the transportation company's stock worth $1,634,609,000 after buying an additional 197,610 shares during the period. Geode Capital Management LLC boosted its stake in Wabtec by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 4,366,157 shares of the transportation company's stock worth $928,249,000 after purchasing an additional 38,029 shares during the period. Wellington Management Group LLP grew its stake in Wabtec by 3.6% during the third quarter. Wellington Management Group LLP now owns 3,304,183 shares of the transportation company's stock valued at $662,390,000 after acquiring an additional 116,329 shares in the last quarter. Finally, Farallon Capital Management LLC increased its holdings in shares of Wabtec by 12.3% in the fourth quarter. Farallon Capital Management LLC now owns 2,476,003 shares of the transportation company's stock worth $528,503,000 after purchasing an additional 270,905 shares during the period. Institutional investors and hedge funds own 91.69% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Wabtec from $284.00 to $315.00 and gave the company an "equal weight" rating in a research report on Thursday, July 23rd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Wabtec in a research note on Friday, July 17th. JPMorgan Chase & Co. increased their price objective on Wabtec from $300.00 to $315.00 and gave the stock a "neutral" rating in a report on Thursday, July 23rd. Wolfe Research reaffirmed an "outperform" rating and set a $303.00 target price on shares of Wabtec in a research note on Thursday, April 23rd. Finally, Citigroup upped their price target on Wabtec from $311.00 to $341.00 and gave the stock a "buy" rating in a research note on Thursday, August 13th. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $313.36.

Insiders Place Their Bets

In other news, VP David L. Deninno sold 3,000 shares of Wabtec stock in a transaction on Friday, July 24th. The shares were sold at an average price of $301.31, for a total transaction of $903,930.00. Following the transaction, the vice president owned 55,128 shares in the company, valued at $16,610,617.68. This trade represents a 5.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Gregory Sbrocco sold 952 shares of Wabtec stock in a transaction on Monday, August 17th. The shares were sold at an average price of $300.00, for a total value of $285,600.00. Following the transaction, the executive vice president owned 21,043 shares in the company, valued at $6,312,900. This trade represents a 4.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 17,786 shares of company stock valued at $5,160,577. 0.57% of the stock is currently owned by corporate insiders.

Wabtec Trading Down 1.8%

Wabtec stock opened at $295.34 on Wednesday. The business's fifty day moving average is $278.22 and its 200 day moving average is $263.70. Wabtec has a one year low of $184.26 and a one year high of $306.64. The stock has a market capitalization of $49.89 billion, a PE ratio of 39.70, a price-to-earnings-growth ratio of 2.03 and a beta of 0.93. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.12 and a quick ratio of 0.59.

Wabtec (NYSE:WAB - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $3.18 billion during 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 firm's quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.27 earnings per share. Wabtec has set its FY 2026 guidance at 10.600-10.900 EPS. On average, sell-side analysts predict that Wabtec will post 10.86 EPS for the current year.

Wabtec Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be given 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 dividend payout ratio is presently 16.67%.

About Wabtec

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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