Burney Co. Lowers Stock Holdings in Wabtec $WAB

Key Points

• Burney Co. cut its Wabtec stake by 23.6% in the first quarter, selling 7,813 shares and leaving it with 25,336 shares valued at about $6.33 million.
• Insiders have been selling shares, including CEO Rafael Santana and insider Sameer Gaur, with total insider sales reaching 65,423 shares worth $17.56 million over the last 90 days.
• Analysts remain broadly positive on Wabtec, with 10 Buy ratings and 2 Hold ratings, and a consensus price target of $289.82; the stock recently traded near $261.40.

Burney Co. reduced its holdings in Wabtec (NYSE:WAB - Free Report) by 23.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,336 shares of the transportation company's stock after selling 7,813 shares during the quarter. Burney Co.'s holdings in Wabtec were worth $6,332,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WAB. Price T Rowe Associates Inc. MD boosted its position 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 worth $1,700,238,000 after acquiring an additional 1,344,744 shares during the last quarter. State Street Corp raised its stake in Wabtec by 2.6% during the fourth quarter. State Street Corp now owns 7,658,040 shares of the transportation company's stock worth $1,634,609,000 after purchasing an additional 197,610 shares during the period. Geode Capital Management LLC raised its stake in Wabtec by 0.9% during the fourth 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 boosted its holdings in shares of Wabtec by 3.6% in the 3rd quarter. Wellington Management Group LLP now owns 3,304,183 shares of the transportation company's stock valued at $662,390,000 after purchasing an additional 116,329 shares during the last quarter. Finally, Nordea Investment Management AB grew its stake in shares of Wabtec by 55.5% during the 4th quarter. Nordea Investment Management AB now owns 3,069,340 shares of the transportation company's stock valued at $659,939,000 after buying an additional 1,095,083 shares during the period. Hedge funds and other institutional investors own 91.69% of the company's stock.

Insider Activity at Wabtec

In other news, CEO Rafael Santana sold 1,163 shares of Wabtec 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 sale, the chief executive officer owned 124,077 shares in the company, valued at $32,391,541.62. This trade represents a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sameer Gaur sold 1,082 shares of the business's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $263.50, for a total transaction of $285,107.00. Following the transaction, the insider directly owned 11,985 shares in the company, valued at approximately $3,158,047.50. The trade was a 8.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 65,423 shares of company stock valued at $17,562,278 in the last ninety days. 0.57% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on WAB shares. Rothschild & Co Redburn raised Wabtec from a "neutral" rating to a "buy" rating and increased their target price for the stock from $262.00 to $285.00 in a research report on Thursday, March 26th. Morgan Stanley reissued an "overweight" rating and set a $318.00 price target on shares of Wabtec in a research report on Monday, April 27th. Wells Fargo & Company raised 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. Wolfe Research reaffirmed an "outperform" rating and issued a $303.00 price objective on shares of Wabtec in a research note on Thursday, April 23rd. Finally, Wall Street Zen downgraded shares of Wabtec from a "buy" rating to a "hold" rating in a research report on Saturday, March 14th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $289.82.

Wabtec Trading Down 0.3%

NYSE:WAB opened at $261.40 on Tuesday. The business's 50-day moving average is $265.26 and its two-hundred day moving average is $250.34. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.02 and a quick ratio of 0.54. Wabtec has a 12 month low of $184.26 and a 12 month high of $284.91. The firm has a market capitalization of $44.35 billion, a PE ratio of 36.97, a price-to-earnings-growth ratio of 1.88 and a beta of 0.94.

Wabtec (NYSE:WAB - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The transportation company reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.09. Wabtec had a return on equity of 14.52% and a net margin of 10.52%.The company had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the prior year, the business earned $2.28 earnings per share. The company's revenue was up 13.0% compared to the same quarter last year. Wabtec has set its FY 2026 guidance at 10.250-10.650 EPS. Research analysts predict that Wabtec will post 10.61 earnings per share for the current fiscal year.

Wabtec Dividend Announcement

The business also recently declared 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 currently 17.54%.

Wabtec Company 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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