Wabtec $WAB Stake Cut by California State Teachers Retirement System

California State Teachers Retirement System reduced its stake in Wabtec (NYSE:WAB - Free Report) by 8.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 257,324 shares of the transportation company's stock after selling 24,566 shares during the quarter. California State Teachers Retirement System owned approximately 0.15% of Wabtec worth $69,374,550 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Wabtec during the 2nd quarter valued at approximately $3,741,077,000. Geode Capital Management LLC grew its position in shares of Wabtec by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 4,366,157 shares of the transportation company's stock valued at $928,249,000 after purchasing an additional 38,029 shares in the last quarter. Norges Bank purchased a new position in shares of Wabtec during the fourth quarter worth approximately $409,039,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Wabtec by 2.4% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,424,945 shares of the transportation company's stock valued at $384,165,000 after buying an additional 33,942 shares during the last quarter. Finally, Aviva PLC raised its position in shares of Wabtec by 1.4% during the 4th quarter. Aviva PLC now owns 971,941 shares of the transportation company's stock worth $207,461,000 after purchasing an additional 13,458 shares during the last quarter. Institutional investors own 91.69% of the company's stock.

Insiders Place Their Bets

In other Wabtec news, insider Michael Fetsko sold 3,250 shares of Wabtec stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $293.22, for a total transaction of $952,965.00. Following the sale, the insider directly owned 37,380 shares in the company, valued at $10,960,563.60. The trade was a 8.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sameer Gaur sold 1,000 shares of the business's stock in a transaction on Friday, July 24th. The stock was sold at an average price of $300.64, for a total value of $300,640.00. Following the sale, the insider directly owned 10,985 shares in the company, valued at $3,302,530.40. This trade represents a 8.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 17,628 shares of company stock worth $5,220,523. 0.57% of the stock is currently owned by insiders.

Wabtec Trading Up 0.0%

Shares of WAB stock traded up $0.06 during trading hours on Tuesday, reaching $278.48. The company had a trading volume of 174,713 shares, compared to its average volume of 911,357. Wabtec has a 1-year low of $184.26 and a 1-year high of $306.64. The firm has a market cap of $47.04 billion, a price-to-earnings ratio of 37.42, a P/E/G ratio of 1.92 and a beta of 0.92. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.12 and a quick ratio of 0.59. The company has a 50 day moving average of $285.36 and a 200 day moving average of $268.78.

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. Wabtec had a net margin of 10.59% and a return on equity of 15.10%. The company had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.07 billion. During the same quarter in the previous year, the business posted $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. On average, equities research analysts anticipate that Wabtec will post 10.86 EPS for the current year.

Wabtec Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have issued reports on WAB shares. Stephens increased their price objective on Wabtec from $320.00 to $330.00 and gave the stock an "overweight" rating in a research report on Thursday, July 23rd. JPMorgan Chase & Co. upped their target price on Wabtec from $300.00 to $315.00 and gave the company a "neutral" rating in a research note on Thursday, July 23rd. KeyCorp raised their price target on shares of Wabtec from $308.00 to $340.00 and gave the stock an "overweight" rating in a research note on Thursday, July 23rd. Weiss Ratings reissued a "buy (b)" rating on shares of Wabtec in a research note on Friday, July 17th. Finally, Citigroup boosted their price target on shares of Wabtec from $311.00 to $341.00 and gave the company a "buy" rating in a research report on Thursday, August 13th. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $313.36.

About Wabtec

Westinghouse Air Brake Technologies Corporation, known as Wabtec, is a global provider of equipment, systems, and services for the freight and transit rail industries. The company develops technologies designed to improve the safety, efficiency, reliability, and environmental performance of rail transportation.

Wabtec's products and services include locomotives and locomotive components, braking systems, rail-control and signaling technologies, digital train-management solutions, and equipment for freight cars and passenger rail vehicles.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.