CIBC Asset Management Inc Buys 16,255 Shares of Wabtec $WAB

Key Points

• CIBC Asset Management increased its Wabtec stake by 67.7% in the fourth quarter, buying 16,255 shares to bring its total holdings to 40,279 shares worth about $8.6 million.
• Several other institutional investors also boosted positions, and institutions now own 91.69% of Wabtec’s stock, highlighting strong institutional interest in the rail equipment maker.
• Analysts remain broadly positive on Wabtec after its latest earnings beat EPS estimates, with a consensus rating of Moderate Buy and a price target of about $289.82.

CIBC Asset Management Inc grew its stake in Wabtec (NYSE:WAB - Free Report) by 67.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,279 shares of the transportation company's stock after acquiring an additional 16,255 shares during the period. CIBC Asset Management Inc's holdings in Wabtec were worth $8,598,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of WAB. BOKF NA lifted its stake in Wabtec by 66.7% in the 4th quarter. BOKF NA now owns 175 shares of the transportation company's stock valued at $37,000 after purchasing an additional 70 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in Wabtec in the 4th quarter valued at about $42,000. Westfuller Advisors LLC lifted its stake in Wabtec by 83.2% in the 4th quarter. Westfuller Advisors LLC now owns 207 shares of the transportation company's stock valued at $44,000 after purchasing an additional 94 shares during the last quarter. Steigerwald Gordon & Koch Inc. lifted its stake in Wabtec by 258.3% in the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 215 shares of the transportation company's stock valued at $46,000 after purchasing an additional 155 shares during the last quarter. Finally, Salomon & Ludwin LLC lifted its stake in Wabtec by 35.6% in the 4th quarter. Salomon & Ludwin LLC now owns 217 shares of the transportation company's stock valued at $47,000 after purchasing an additional 57 shares during the last quarter. Institutional investors own 91.69% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on WAB shares. Rothschild & Co Redburn upgraded shares of Wabtec from a "neutral" rating to a "buy" rating and raised their target price for the company from $262.00 to $285.00 in a research note on Thursday, March 26th. Weiss Ratings reiterated a "buy (b)" rating on shares of Wabtec in a research note on Monday, April 20th. Susquehanna reiterated a "positive" rating and issued a $305.00 target price on shares of Wabtec in a research note on Thursday, April 23rd. Citigroup raised their price objective on shares of Wabtec from $283.00 to $292.00 and gave the stock a "buy" rating in a research report on Thursday, April 9th. Finally, Jefferies Financial Group restated a "buy" rating and set a $290.00 price objective (down from $300.00) on shares of Wabtec in a research report on Tuesday, March 31st. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $289.82.

Wabtec Stock Performance

NYSE WAB opened at $260.77 on Friday. The firm's fifty day moving average price is $261.06 and its two-hundred day moving average price is $241.22. The stock has a market cap of $44.25 billion, a PE ratio of 36.88, a PEG ratio of 1.88 and a beta of 0.94. Wabtec has a fifty-two week low of $184.26 and a fifty-two week high of $275.84. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.54 and a current ratio of 1.02.

Wabtec (NYSE:WAB - Get Free Report) last issued its quarterly earnings data 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 net margin of 10.52% and a return on equity of 14.52%. The company had revenue of $2.95 billion for the quarter, compared to analysts' expectations of $3.08 billion. During the same quarter in the previous year, the firm posted $2.28 earnings per share. Wabtec's revenue for the quarter was up 13.0% on a year-over-year basis. Wabtec has set its FY 2026 guidance at 10.250-10.650 EPS. On average, equities analysts expect that Wabtec will post 10.61 EPS for the current fiscal year.

Wabtec Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Friday, May 22nd were paid a $0.31 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.24 annualized dividend and a dividend yield of 0.5%. Wabtec's payout ratio is currently 17.54%.

Wabtec declared that its board has initiated a stock repurchase plan on Wednesday, February 11th that permits the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization permits the transportation company to buy up to 2.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at Wabtec

In related news, EVP Gina Trombley sold 4,013 shares of the business's stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $241.87, for a total value of $970,624.31. Following the sale, the executive vice president owned 13,841 shares of the company's stock, valued at $3,347,722.67. The trade was a 22.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Rafael Santana sold 1,163 shares of the business's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $263.77, for a total transaction of $306,764.51. Following the completion of the sale, the chief executive officer directly owned 127,566 shares in the company, valued at approximately $33,648,083.82. This represents a 0.90% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 67,191 shares of company stock worth $17,922,608. 0.57% of the stock is currently owned by insiders.

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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