Oddo BHF Asset Management Sas Sells 15,708 Shares of Wabtec $WAB

Key Points

• Oddo BHF Asset Management Sas cut its Wabtec position by 73.6% in the fourth quarter, selling 15,708 shares and leaving it with 5,645 shares valued at about $1.2 million.
• Wabtec’s latest earnings beat expectations, with Q1 EPS of $2.71 versus the $2.62 consensus, though revenue came in below estimates at $2.95 billion.
• Analyst sentiment remains generally positive, with 10 Buy ratings and 2 Hold ratings, and the stock carries a Moderate Buy consensus target price of $289.82.

Oddo BHF Asset Management Sas lowered its position in Wabtec (NYSE:WAB - Free Report) by 73.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,645 shares of the transportation company's stock after selling 15,708 shares during the quarter. Oddo BHF Asset Management Sas' holdings in Wabtec were worth $1,205,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of WAB. Norges Bank bought a new stake in shares of Wabtec in the 4th quarter valued at about $409,039,000. Nordea Investment Management AB raised its holdings in shares of Wabtec by 55.5% in the 4th quarter. Nordea Investment Management AB now owns 3,069,340 shares of the transportation company's stock valued at $659,939,000 after purchasing an additional 1,095,083 shares in the last quarter. Farallon Capital Management LLC raised its holdings in shares of Wabtec by 68.6% in the 3rd quarter. Farallon Capital Management LLC now owns 2,205,098 shares of the transportation company's stock valued at $442,056,000 after purchasing an additional 896,900 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Wabtec by 360.0% in the 4th 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. Finally, UBS Group AG raised its holdings in shares of Wabtec by 194.2% in the 3rd 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. Institutional investors own 91.69% of the company's stock.

Analyst Upgrades and Downgrades

WAB has been the subject of several recent research reports. Weiss Ratings restated a "buy (b)" rating on shares of Wabtec in a report on Monday, April 20th. Wells Fargo & Company raised their price objective on Wabtec from $270.00 to $284.00 and gave the company an "equal weight" rating in a research report on Thursday, April 23rd. Wall Street Zen downgraded Wabtec from a "buy" rating to a "hold" rating in a research report on Saturday, March 14th. Susquehanna reaffirmed a "positive" rating and set a $305.00 price objective on shares of Wabtec in a research report on Thursday, April 23rd. Finally, Wolfe Research reaffirmed an "outperform" rating and set a $303.00 price objective on shares of Wabtec in a research report on Thursday, April 23rd. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $289.82.

Wabtec Stock Performance

Shares of WAB stock opened at $272.26 on Wednesday. The business's fifty day simple moving average is $263.29 and its 200-day simple moving average is $244.63. The company has a market cap of $46.20 billion, a PE ratio of 38.51, a PEG ratio of 1.92 and a beta of 0.94. The company has a current ratio of 1.02, a quick ratio of 0.54 and a debt-to-equity ratio of 0.42. Wabtec has a 12-month low of $184.26 and a 12-month high of $276.22.

Wabtec (NYSE:WAB - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The transportation company reported $2.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.62 by $0.09. The business had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $3.08 billion. Wabtec had a return on equity of 14.52% and a net margin of 10.52%.The business's quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.28 earnings per share. Wabtec has set its FY 2026 guidance at 10.250-10.650 EPS. Analysts expect that Wabtec will post 10.61 earnings per share for the current fiscal year.

Wabtec Dividend Announcement

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

Insider Buying and Selling

In related news, CEO Rafael Santana sold 1,163 shares of Wabtec stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $261.06, for a total value of $303,612.78. Following the completion of the sale, the chief executive officer directly owned 124,077 shares in the company, valued at $32,391,541.62. This trade represents a 0.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sameer Gaur sold 1,082 shares of Wabtec stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $263.50, for a total transaction of $285,107.00. Following the completion of the sale, the insider owned 11,985 shares of the company's stock, valued at $3,158,047.50. This trade represents a 8.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 65,423 shares of company stock valued at $17,562,278 over the last quarter. 0.57% of the stock is owned by company 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.

Want to see what other hedge funds are holding WAB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wabtec (NYSE:WAB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.