New York State Teachers Retirement System Cuts Stock Position in Wabtec $WAB

Key Points

• New York State Teachers Retirement System trimmed its Wabtec stake by 4.6% (5,856 shares), leaving 121,889 shares worth ~$26.0M, while overall institutional ownership sits at 91.69% and several large managers (Nordea, Wellington, Farallon) materially increased their positions.
• Analysts are broadly bullish on Wabtec, with a consensus rating of "Moderate Buy" and an average price target of $289.82 after multiple firms raised targets (KeyCorp $308, Wolfe $303, Citigroup $292).
• Wabtec beat EPS estimates ($2.71 vs. $2.62), reported 13% YoY revenue growth but a slight revenue miss, raised its quarterly dividend to $0.31, and authorized a $1.2B share repurchase plan while guiding FY2026 EPS to $10.25–$10.65.

New York State Teachers Retirement System lessened its position in Wabtec (NYSE:WAB - Free Report) by 4.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 121,889 shares of the transportation company's stock after selling 5,856 shares during the quarter. New York State Teachers Retirement System owned approximately 0.07% of Wabtec worth $26,017,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP increased its holdings in Wabtec by 3.6% during the 3rd quarter. Wellington Management Group LLP now owns 3,304,183 shares of the transportation company's stock worth $662,390,000 after purchasing an additional 116,329 shares during the period. Nordea Investment Management AB increased its holdings in Wabtec by 55.5% during the 4th quarter. Nordea Investment Management AB now owns 3,069,340 shares of the transportation company's stock worth $659,939,000 after purchasing an additional 1,095,083 shares during the period. Boston Partners increased its holdings in Wabtec by 1.9% during the 3rd quarter. Boston Partners now owns 2,304,832 shares of the transportation company's stock worth $462,057,000 after purchasing an additional 43,376 shares during the period. Farallon Capital Management LLC increased its holdings in Wabtec by 68.6% during the 3rd quarter. Farallon Capital Management LLC now owns 2,205,098 shares of the transportation company's stock worth $442,056,000 after purchasing an additional 896,900 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Wabtec by 1.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,718,241 shares of the transportation company's stock worth $344,405,000 after purchasing an additional 19,952 shares during the period. Hedge funds and other institutional investors own 91.69% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Wolfe Research restated an "outperform" rating and set a $303.00 price target on shares of Wabtec in a report on Thursday, April 23rd. Citigroup upped their price target on Wabtec from $283.00 to $292.00 and gave the stock a "buy" rating in a report on Thursday, April 9th. KeyCorp upped their price target on Wabtec from $240.00 to $308.00 and gave the stock an "overweight" rating in a report on Thursday, February 12th. Stephens upped their price target on Wabtec from $230.00 to $290.00 and gave the stock an "overweight" rating in a report on Thursday, February 12th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Wabtec in a report on Monday, April 20th. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $289.82.

Wabtec Price Performance

Shares of NYSE WAB opened at $265.27 on Friday. 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 has a fifty-two week low of $184.26 and a fifty-two week high of $275.84. The firm has a market capitalization of $45.01 billion, a PE ratio of 37.52, a price-to-earnings-growth ratio of 1.90 and a beta of 0.97. The stock's 50-day simple moving average is $255.17 and its 200-day simple moving average is $230.96.

Wabtec (NYSE:WAB - Get Free Report) last issued its earnings results 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 return on equity of 14.52% and a net margin of 10.52%.The business had revenue of $2.95 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter last year, the company earned $2.28 EPS. The business's quarterly revenue was up 13.0% on a year-over-year basis. Wabtec has set its FY 2026 guidance at 10.250-10.650 EPS. As a group, equities research analysts forecast that Wabtec will post 10.61 EPS for the current fiscal year.

Wabtec Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 17th were given a dividend of $0.31 per share. This is a boost from Wabtec's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $1.24 annualized dividend and a dividend yield of 0.5%. Wabtec's dividend payout ratio is 17.54%.

Wabtec announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 11th that permits the company to repurchase $1.20 billion in shares. This repurchase authorization permits the transportation company to repurchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at Wabtec

In other news, EVP Gina Trombley sold 4,013 shares of the firm's stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $241.87, for a total transaction of $970,624.31. Following the sale, the executive vice president owned 13,841 shares of the company's stock, valued at approximately $3,347,722.67. This trade represents a 22.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John A. Olin sold 11,000 shares of the firm's stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $263.30, for a total value of $2,896,300.00. Following the sale, the chief financial officer directly owned 60,487 shares in the company, valued at $15,926,227.10. This trade represents a 15.39% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 92,364 shares of company stock worth $24,522,522. 0.57% of the stock is currently owned by corporate insiders.

Wabtec 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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