Caisse de depot et placement du Quebec Lowers Holdings in Wabtec $WAB

Caisse de depot et placement du Quebec reduced its stake in shares of Wabtec (NYSE:WAB - Free Report) by 98.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,044 shares of the transportation company's stock after selling 253,976 shares during the quarter. Caisse de depot et placement du Quebec's holdings in Wabtec were worth $1,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Wabtec during the second quarter worth $3,741,077,000. Norges Bank bought a new position in shares of Wabtec during the 4th quarter valued at about $409,039,000. Price T Rowe Associates Inc. MD grew its position in shares of Wabtec by 20.3% during 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 purchasing an additional 1,344,744 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Wabtec in the second quarter worth about $212,692,000. Finally, Deutsche Bank AG purchased a new stake in shares of Wabtec in the second quarter worth about $207,228,000. Institutional investors own 91.69% of the company's stock.

Wabtec Trading Up 0.0%

WAB opened at $292.28 on Monday. The firm has a market cap of $49.37 billion, a P/E ratio of 39.28, a P/E/G ratio of 1.98 and a beta of 0.93. Wabtec has a 12 month low of $184.26 and a 12 month high of $306.64. The company has a current ratio of 1.12, a quick ratio of 0.59 and a debt-to-equity ratio of 0.44. The stock has a 50-day moving average of $282.66 and a 200 day moving average of $266.96.

Wabtec (NYSE:WAB - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.07 billion. Wabtec had a return on equity of 15.10% and a net margin of 10.59%.The company's quarterly revenue was up 17.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.27 earnings per share. Wabtec has set its FY 2026 guidance at 10.600-10.900 EPS. As a group, research analysts forecast that Wabtec will post 10.86 EPS for the current year.

Wabtec Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 0.4%. The ex-dividend date is Tuesday, August 18th. Wabtec's dividend payout ratio is presently 16.67%.

Insider Activity at Wabtec

In related news, CEO Rafael Santana sold 1,163 shares of the firm'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 completion of the sale, the chief executive officer directly owned 120,588 shares in the company, valued at $36,060,635.52. This trade represents a 0.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 business's stock in a transaction on Friday, July 24th. The shares were sold at an average price of $299.27, for a total transaction of $2,124,817.00. Following the transaction, the chief technology officer owned 19,153 shares in the company, valued at $5,731,918.31. This trade represents a 27.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 21,036 shares of company stock worth $6,113,542 in the last ninety days. Corporate insiders own 0.57% of the company's stock.

Wall Street Analyst Weigh In

WAB has been the subject of a number of research reports. Morgan Stanley increased their price target on Wabtec from $318.00 to $355.00 and gave the company an "overweight" rating in a research note on Thursday, July 23rd. JPMorgan Chase & Co. upped 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. Stephens increased their target price on Wabtec from $320.00 to $330.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. Citigroup raised their target price on shares of Wabtec from $311.00 to $341.00 and gave the company a "buy" rating in a report on Thursday, August 13th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Wabtec in a research report on Friday, July 17th. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $313.36.

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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