California State Teachers Retirement System Has $70.45 Million Position in Wabtec $WAB

Key Points

• California State Teachers Retirement System reduced its Wabtec position by 2.1% in the first quarter, selling 6,069 shares and retaining 281,890 shares valued at approximately $70.45 million. Institutional investors collectively own 91.69% of the company.
• Wabtec reported quarterly earnings of $2.76 per share, beating estimates of $2.60, while revenue rose 17.5% year over year to $3.18 billion. Analysts maintain a “Moderate Buy” consensus, with an average price target of $310.64.
• Wabtec shares opened at $292.52, near their 52-week high of $306.64. The company also declared a quarterly dividend of $0.31 per share, equivalent to a 0.4% annualized yield.

California State Teachers Retirement System cut its position in Wabtec (NYSE:WAB - Free Report) by 2.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 281,890 shares of the transportation company's stock after selling 6,069 shares during the period. California State Teachers Retirement System owned about 0.17% of Wabtec worth $70,447,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WAB. Royal Bank of Canada grew its holdings in shares of Wabtec by 2.7% in the 1st quarter. Royal Bank of Canada now owns 393,048 shares of the transportation company's stock valued at $98,226,000 after buying an additional 10,197 shares during the period. Empowered Funds LLC grew its stake in Wabtec by 117.7% in the first quarter. Empowered Funds LLC now owns 16,064 shares of the transportation company's stock valued at $4,015,000 after acquiring an additional 8,684 shares during the period. Quantinno Capital Management LP increased its holdings in shares of Wabtec by 4.6% in the first quarter. Quantinno Capital Management LP now owns 155,152 shares of the transportation company's stock worth $38,774,000 after acquiring an additional 6,815 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Wabtec during the first quarter worth about $14,150,000. Finally, Weiss Asset Management LP acquired a new stake in shares of Wabtec during the first quarter worth about $2,677,000. 91.69% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Wabtec news, VP David L. Deninno sold 3,000 shares of the company's stock in a transaction on Friday, July 24th. The shares were sold at an average price of $301.31, for a total value of $903,930.00. Following the transaction, the vice president directly owned 55,128 shares in the company, valued at $16,610,617.68. The trade was a 5.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sameer Gaur sold 1,082 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $263.50, for a total transaction of $285,107.00. Following the completion of the transaction, the insider directly owned 11,985 shares in the company, valued at $3,158,047.50. The trade was a 8.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 16,834 shares of company stock valued at $4,833,958 over the last 90 days. 0.57% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Wall Street Zen upgraded Wabtec from a "hold" rating to a "buy" rating in a research report on Saturday, July 25th. Wells Fargo & Company upped their price target on shares of Wabtec from $284.00 to $315.00 and gave the company an "equal weight" rating in a report on Thursday, July 23rd. KeyCorp increased their price objective on shares of Wabtec from $308.00 to $340.00 and gave the stock an "overweight" 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. Finally, Susquehanna increased their target price on Wabtec from $305.00 to $340.00 and gave the stock a "positive" rating in a report on Thursday, July 23rd. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Wabtec currently has an average rating of "Moderate Buy" and a consensus target price of $310.64.

Wabtec Stock Performance

Shares of WAB stock opened at $292.52 on Friday. The company has a fifty day moving average price of $269.02 and a two-hundred day moving average price of $257.59. Wabtec has a one year low of $184.26 and a one year high of $306.64. The stock has a market cap of $49.41 billion, a P/E ratio of 39.32, a P/E/G ratio of 1.98 and a beta of 0.94. 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, topping 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 company 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. Wabtec's revenue for the quarter was up 17.5% compared to the same quarter last year. Wabtec has set its FY 2026 guidance at 10.600-10.900 EPS. As a group, equities analysts predict that Wabtec will post 10.86 EPS for the current year.

Wabtec Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.4%. Wabtec's payout ratio is presently 16.67%.

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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