Lazard Asset Management LLC Makes New Investment in Wabtec $WAB

Key Points

• Lazard Asset Management acquired 56,622 Wabtec shares worth approximately $14.15 million, while institutional investors collectively own 91.69% of the company.
• Analysts remain broadly positive: 10 rate Wabtec a Buy and two a Hold, with a “Moderate Buy” consensus and an average price target of $310.64. Several firms recently raised their targets to between $330 and $355.
• Wabtec exceeded quarterly expectations, reporting $2.76 in adjusted EPS on $3.18 billion in revenue, up 17.5% year over year. The company also declared a quarterly dividend of $0.31 per share, while insiders have sold shares totaling about $4.83 million over the past 90 days.

Lazard Asset Management LLC acquired a new position in shares of Wabtec (NYSE:WAB - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 56,622 shares of the transportation company's stock, valued at approximately $14,150,000.

Several other institutional investors have also made changes to their positions in the business. Norges Bank acquired a new position in Wabtec in the fourth quarter worth about $409,039,000. Price T Rowe Associates Inc. MD lifted its stake in Wabtec by 20.3% during the fourth 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 during the period. Bank of Montreal Can boosted its holdings in Wabtec by 360.0% during the fourth quarter. Bank of Montreal Can now owns 885,197 shares of the transportation company's stock valued at $188,945,000 after purchasing an additional 692,773 shares in the last quarter. UBS Group AG boosted its holdings in Wabtec by 194.2% during the third quarter. UBS Group AG now owns 1,033,304 shares of the transportation company's stock valued at $207,146,000 after purchasing an additional 682,048 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Wabtec by 288.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 851,733 shares of the transportation company's stock valued at $212,857,000 after purchasing an additional 632,218 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on WAB. Wall Street Zen raised Wabtec from a "hold" rating to a "buy" rating in a report on Saturday, July 25th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Wabtec in a research note on Friday, July 17th. Morgan Stanley upped their price target on Wabtec from $318.00 to $355.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. Stephens increased their price objective on Wabtec from $320.00 to $330.00 and gave the stock an "overweight" rating in a research note on Thursday, July 23rd. Finally, Susquehanna lifted their price objective on Wabtec from $305.00 to $340.00 and gave the company a "positive" rating in a report on Thursday, July 23rd. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $310.64.

Insider Buying and Selling

In other Wabtec news, CTO Eric Gebhardt sold 7,100 shares of Wabtec stock in a transaction dated 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 transaction, the chief technology officer directly owned 19,153 shares in the company, valued at approximately $5,731,918.31. The trade was a 27.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Sameer Gaur sold 1,082 shares of Wabtec stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $263.50, for a total value of $285,107.00. Following the transaction, the insider owned 11,985 shares in the company, valued at $3,158,047.50. This trade represents a 8.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have 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 corporate insiders.

Wabtec Stock Performance

Shares of NYSE:WAB opened at $292.04 on Thursday. The business has a fifty day moving average of $268.27 and a 200-day moving average of $257.11. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.59 and a current ratio of 1.12. Wabtec has a twelve month low of $184.26 and a twelve month high of $306.64. The firm has a market cap of $49.33 billion, a PE ratio of 39.25, a price-to-earnings-growth ratio of 2.07 and a beta of 0.94.

Wabtec (NYSE:WAB - Get Free Report) last posted 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. The firm had revenue of $3.18 billion during the quarter, compared to analysts' expectations of $3.07 billion. Wabtec had a net margin of 10.59% and a return on equity of 15.10%. Wabtec's revenue was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.27 EPS. Wabtec has set its FY 2026 guidance at 10.600-10.900 EPS. On average, equities research analysts predict that Wabtec will post 10.86 EPS for the current fiscal year.

Wabtec Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be issued a dividend of $0.31 per share. The ex-dividend date is Tuesday, August 18th. This represents a $1.24 dividend on an annualized basis and a yield of 0.4%. Wabtec's dividend payout ratio (DPR) is 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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