Junto Capital Management LP Acquires Shares of 526,732 Wabtec $WAB

Key Points

• Junto Capital Management acquired 526,732 Wabtec shares worth approximately $142 million, making Wabtec its sixth-largest holding and representing about 0.31% of the company.
• Institutional ownership remains substantial at 91.69%, while Wabtec insiders sold 18,710 shares valued at roughly $5.5 million over the past 90 days.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $313.36. Wabtec recently exceeded quarterly earnings and revenue estimates, reporting $2.76 in EPS and $3.18 billion in revenue.

Junto Capital Management LP bought a new position in shares of Wabtec (NYSE:WAB - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 526,732 shares of the transportation company's stock, valued at approximately $142,007,000. Wabtec makes up 2.5% of Junto Capital Management LP's holdings, making the stock its 6th largest position. Junto Capital Management LP owned about 0.31% of Wabtec at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. California State Teachers Retirement System grew its holdings in Wabtec by 24,510.5% during the second quarter. California State Teachers Retirement System now owns 69,374,550 shares of the transportation company's stock worth $18,703,379,000 after acquiring an additional 69,092,660 shares during the period. BlackRock Inc. acquired a new stake in Wabtec in the second quarter valued at $3,741,077,000. Norges Bank acquired a new stake in Wabtec in the fourth quarter valued at $409,039,000. Price T Rowe Associates Inc. MD boosted its position in shares of Wabtec by 20.3% during the 4th 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 purchasing an additional 1,344,744 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Wabtec during the 2nd quarter worth $212,692,000. 91.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Wabtec

In other news, insider Michael Fetsko sold 3,250 shares of the business's stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $293.22, for a total value of $952,965.00. Following the completion of the transaction, the insider directly owned 37,380 shares of the company's stock, valued at $10,960,563.60. The trade was a 8.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP David L. Deninno sold 3,000 shares of the 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 sale, the vice president directly owned 55,128 shares in the company, valued at approximately $16,610,617.68. The trade was a 5.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 18,710 shares of company stock valued at $5,505,630 in the last ninety days. 0.57% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on WAB. Wall Street Zen downgraded shares of Wabtec from a "buy" rating to a "hold" rating in a report on Sunday, August 2nd. KeyCorp boosted their price objective on shares of Wabtec from $308.00 to $340.00 and gave the stock an "overweight" rating in a report on Thursday, July 23rd. Morgan Stanley upped their target price on shares of Wabtec from $318.00 to $355.00 and gave the stock an "overweight" rating in a research report on Thursday, July 23rd. Stephens lifted their price target on shares of Wabtec from $320.00 to $330.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. Finally, Wells Fargo & Company boosted their price target on Wabtec from $284.00 to $315.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 23rd. Ten equities research 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.com, the company has a consensus rating of "Moderate Buy" and an average price target of $313.36.

Wabtec Stock Performance

Shares of WAB opened at $280.88 on Thursday. Wabtec has a 12-month low of $184.26 and a 12-month high of $306.64. The stock has a market cap of $47.44 billion, a P/E ratio of 37.75, a PEG ratio of 1.93 and a beta of 0.92. 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 company has a 50-day moving average of $284.25 and a two-hundred day moving average of $268.43.

Wabtec (NYSE:WAB - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $2.76 EPS 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 business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.07 billion. During the same period in the prior year, the business earned $2.27 earnings per share. The company's quarterly revenue was up 17.5% on a year-over-year basis. Wabtec has set its FY 2026 guidance at 10.600-10.900 EPS. As a group, research analysts predict that Wabtec will post 10.86 EPS for the current fiscal year.

Wabtec Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $1.24 annualized dividend and a yield of 0.4%. Wabtec's dividend payout ratio (DPR) is presently 16.67%.

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.

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