OP Asset Management Ltd Makes New $4.22 Million Investment in Wabtec $WAB

Key Points

• OP Asset Management initiated a new position in Wabtec during the first quarter, buying 16,906 shares valued at about $4.22 million.
• Wabtec’s CEO Rafael Santana and insider Sameer Gaur both sold shares recently, and insiders have sold a total of 65,423 shares worth about $17.56 million over the past three months.
• The company reported Q1 earnings of $2.71 per share, beating estimates, while revenue rose 13% year over year; analysts currently rate the stock a Moderate Buy with a consensus price target of $289.82.

OP Asset Management Ltd bought a new stake in Wabtec (NYSE:WAB - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 16,906 shares of the transportation company's stock, valued at approximately $4,225,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Clal Insurance Enterprises Holdings Ltd raised its position in Wabtec by 125.9% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 131 shares of the transportation company's stock valued at $28,000 after purchasing an additional 73 shares in the last quarter. Manchester Capital Management LLC grew its position in shares of Wabtec by 122.0% during the fourth quarter. Manchester Capital Management LLC now owns 131 shares of the transportation company's stock worth $28,000 after buying an additional 72 shares in the last quarter. McMillan Office Inc. purchased a new stake in shares of Wabtec during the fourth quarter worth approximately $31,000. Reflection Asset Management purchased a new stake in shares of Wabtec during the fourth quarter worth approximately $35,000. Finally, BOKF NA raised its holdings in Wabtec by 66.7% in the fourth quarter. BOKF NA now owns 175 shares of the transportation company's stock valued at $37,000 after acquiring an additional 70 shares in the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Wabtec

In other Wabtec news, CEO Rafael Santana sold 60,852 shares of Wabtec stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $268.89, for a total value of $16,362,494.28. Following the transaction, the chief executive officer directly owned 128,729 shares in the company, valued at approximately $34,613,940.81. The trade was a 32.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sameer Gaur sold 1,082 shares of the company's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $263.50, for a total transaction of $285,107.00. Following the completion of the sale, the insider directly owned 11,985 shares of the company's stock, valued at $3,158,047.50. The trade was a 8.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 65,423 shares of company stock worth $17,562,278 over the last three months. 0.57% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

WAB has been the subject of several analyst reports. Rothschild & Co Redburn upgraded shares of Wabtec from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $262.00 to $285.00 in a report on Thursday, March 26th. Jefferies Financial Group reaffirmed a "buy" rating and set a $290.00 price objective (down from $300.00) on shares of Wabtec in a research report on Tuesday, March 31st. Citigroup boosted their target price on shares of Wabtec from $283.00 to $292.00 and gave the stock a "buy" rating in a research note on Thursday, April 9th. Morgan Stanley restated an "overweight" rating and issued a $318.00 price target on shares of Wabtec in a research note on Monday, April 27th. Finally, JPMorgan Chase & Co. decreased their price target on Wabtec from $290.00 to $280.00 and set a "neutral" rating for the company in a report on Friday, April 10th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $289.82.

Wabtec Stock Down 4.2%

Wabtec stock opened at $270.46 on Friday. The company has a market capitalization of $45.89 billion, a P/E ratio of 38.25, a PEG ratio of 2.02 and a beta of 0.94. 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 $284.91. The stock has a 50-day simple moving average of $264.92 and a 200-day simple moving average of $247.95.

Wabtec (NYSE:WAB - Get Free Report) last released 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. Wabtec had a return on equity of 14.52% and a net margin of 10.52%.The firm had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter last year, the business posted $2.28 EPS. The firm's quarterly revenue was up 13.0% compared to the same quarter last year. Wabtec has set its FY 2026 guidance at 10.250-10.650 EPS. Equities research analysts expect that Wabtec will post 10.61 earnings per share for the current year.

Wabtec Announces Dividend

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

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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