Pallas Capital Advisors LLC Purchases New Position in Wabtec $WAB

Key Points

• Pallas Capital Advisors acquired 5,149 Wabtec shares worth approximately $1.39 million, while institutional investors collectively own 91.69% of the company.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $313.36; several firms recently raised their targets above $315.
• Wabtec exceeded quarterly expectations, reporting $2.76 in adjusted EPS and $3.18 billion in revenue, up 17.5% year over year. The company also declared a $0.31 quarterly dividend, equal to a 0.4% yield.

Pallas Capital Advisors LLC purchased a new stake in shares of Wabtec (NYSE:WAB - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 5,149 shares of the transportation company's stock, valued at approximately $1,388,000.

A number of other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Wabtec by 20.3% during the 4th 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 acquiring an additional 1,344,744 shares in the last quarter. State Street Corp grew its holdings in shares of Wabtec by 2.6% in the fourth quarter. State Street Corp now owns 7,658,040 shares of the transportation company's stock valued at $1,634,609,000 after purchasing an additional 197,610 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Wabtec by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,366,157 shares of the transportation company's stock valued at $928,249,000 after purchasing an additional 38,029 shares in the last quarter. Wellington Management Group LLP increased its position in Wabtec by 3.6% in the third 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 last quarter. Finally, Farallon Capital Management LLC increased its position in Wabtec by 12.3% in the fourth quarter. Farallon Capital Management LLC now owns 2,476,003 shares of the transportation company's stock worth $528,503,000 after purchasing an additional 270,905 shares during the last quarter. Institutional investors own 91.69% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Susquehanna increased their price objective on shares of Wabtec from $305.00 to $340.00 and gave the company a "positive" rating in a research report on Thursday, July 23rd. Citigroup upped their target price on shares of Wabtec from $311.00 to $341.00 and gave the company a "buy" rating in a research report on Thursday, August 13th. Wolfe Research reaffirmed an "outperform" rating and issued a $303.00 price target on shares of Wabtec in a report on Thursday, April 23rd. Wall Street Zen lowered Wabtec from a "buy" rating to a "hold" rating in a research report on Sunday, August 2nd. Finally, Wells Fargo & Company lifted their price target on Wabtec from $284.00 to $315.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 23rd. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $313.36.

Wabtec Stock Down 1.8%

Shares of WAB opened at $295.34 on Wednesday. The company has a quick ratio of 0.59, a current ratio of 1.12 and a debt-to-equity ratio of 0.44. The business has a fifty day moving average of $278.22 and a 200 day moving average of $263.70. The company has a market cap of $49.89 billion, a PE ratio of 39.70, a P/E/G ratio of 2.03 and a beta of 0.93. Wabtec has a 52-week low of $184.26 and a 52-week high of $306.64.

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, beating analysts' consensus estimates of $2.60 by $0.16. Wabtec had a net margin of 10.59% and a return on equity of 15.10%. The business had revenue of $3.18 billion for the quarter, compared to analysts' expectations of $3.07 billion. During the same quarter in the previous year, the business posted $2.27 earnings per share. The business's revenue was up 17.5% compared to the same quarter last year. Wabtec has set its FY 2026 guidance at 10.600-10.900 EPS. On average, sell-side analysts expect that Wabtec will post 10.86 EPS for the current year.

Wabtec Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 0.4%. The ex-dividend date is Tuesday, August 18th. Wabtec's dividend payout ratio is presently 16.67%.

Insider Buying and Selling

In other news, CEO Rafael Santana sold 1,163 shares of the company's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $299.04, for a total transaction of $347,783.52. Following the transaction, the chief executive officer owned 120,588 shares of the company's stock, valued at approximately $36,060,635.52. This represents a 0.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP David L. Deninno sold 3,000 shares of the stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $301.31, for a total value of $903,930.00. Following the completion of the sale, the vice president owned 55,128 shares in the company, valued at approximately $16,610,617.68. The trade was a 5.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 17,786 shares of company stock worth $5,160,577 over the last three months. 0.57% of the stock is currently owned by company insiders.

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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