Korea Investment CORP increased its position in Wabtec (NYSE:WAB - Free Report) by 13.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 72,906 shares of the transportation company's stock after acquiring an additional 8,582 shares during the quarter. Korea Investment CORP's holdings in Wabtec were worth $19,655,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WAB. Nomura Asset Management Co. Ltd. grew its position in shares of Wabtec by 5.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 85,485 shares of the transportation company's stock valued at $18,247,000 after purchasing an additional 4,266 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Wabtec by 24,274.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 323,936 shares of the transportation company's stock valued at $69,144,000 after buying an additional 322,607 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Wabtec by 16.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 925,021 shares of the transportation company's stock valued at $197,446,000 after buying an additional 132,091 shares in the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Wabtec during the fourth quarter valued at about $2,134,000. Finally, Pinnbrook Capital Management LP bought a new stake in shares of Wabtec during the fourth quarter valued at about $7,743,000. 91.69% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research firms have recently commented on WAB. Wall Street Zen lowered shares of Wabtec from a "buy" rating to a "hold" rating in a research report on Sunday, August 2nd. JPMorgan Chase & Co. upped their target price on shares of Wabtec from $300.00 to $315.00 and gave the stock a "neutral" rating in a report on Thursday, July 23rd. Susquehanna increased their target price on shares of Wabtec from $305.00 to $340.00 and gave the stock a "positive" rating in a research note on Thursday, July 23rd. Stephens raised their price target on shares of Wabtec from $320.00 to $330.00 and gave the company an "overweight" rating in a report on Thursday, July 23rd. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Wabtec in a research report on Friday, July 17th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $313.36.
Check Out Our Latest Research Report on WAB
Wabtec Price Performance
WAB opened at $298.10 on Monday. The stock has a 50-day moving average price of $280.20 and a 200-day moving average price of $265.02. 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 market capitalization of $50.35 billion, a P/E ratio of 40.07, a PEG ratio of 2.02 and a beta of 0.93.
Wabtec (NYSE:WAB - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $2.76 earnings per share for the quarter, beating analysts' consensus estimates of $2.60 by $0.16. The company had revenue of $3.18 billion for the quarter, compared to analysts' expectations of $3.07 billion. Wabtec had a return on equity of 15.10% and a net margin of 10.59%.Wabtec's revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period last year, the firm posted $2.27 EPS. Wabtec has set its FY 2026 guidance at 10.600-10.900 EPS. Equities analysts predict that Wabtec will post 10.86 earnings per share for the current fiscal year.
Wabtec Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.24 annualized dividend and a dividend yield of 0.4%. Wabtec's dividend payout ratio (DPR) is 16.67%.
Insider Activity
In related news, 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 transaction of $903,930.00. Following the transaction, the vice president owned 55,128 shares of the company's stock, valued at approximately $16,610,617.68. This trade represents a 5.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Eric Gebhardt sold 7,100 shares of Wabtec stock in a transaction on Friday, July 24th. The stock was sold at an average price of $299.27, for a total transaction of $2,124,817.00. Following the completion of the transaction, the chief technology officer owned 19,153 shares in the company, valued at approximately $5,731,918.31. The trade was a 27.04% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 21,036 shares of company stock valued at $6,113,542. Insiders own 0.57% of the company's stock.
About Wabtec
(
Free Report)
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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