Pictet Asset Management Holding SA Sells 37,965 Shares of Wabtec $WAB

Key Points

• Pictet Asset Management cut its Wabtec stake by 23%, selling 37,965 shares and retaining 127,314 shares (about $27.18 million) after the fourth quarter.
• Wabtec reported quarterly EPS of $2.71 (beating estimates) while revenue missed at $2.95B; the company set FY2026 EPS guidance of 10.250–10.650, raised the quarterly dividend to $0.31, and authorized a $1.2 billion share buyback.
• Analysts remain largely positive with a consensus "Moderate Buy" (10 buys, 2 holds) and an average price target of approximately $289.82.

Pictet Asset Management Holding SA reduced its holdings in shares of Wabtec (NYSE:WAB - Free Report) by 23.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 127,314 shares of the transportation company's stock after selling 37,965 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.07% of Wabtec worth $27,177,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of WAB. Piscataqua Savings Bank grew its stake in Wabtec by 12,800.0% in the 3rd quarter. Piscataqua Savings Bank now owns 129 shares of the transportation company's stock valued at $26,000 after purchasing an additional 128 shares during the period. Motco raised its stake in shares of Wabtec by 6,600.0% during the 3rd quarter. Motco now owns 134 shares of the transportation company's stock worth $27,000 after purchasing an additional 132 shares during the period. Salomon & Ludwin LLC boosted its holdings in shares of Wabtec by 370.6% in the 3rd quarter. Salomon & Ludwin LLC now owns 160 shares of the transportation company's stock worth $32,000 after buying an additional 126 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Wabtec in the 4th quarter worth about $42,000. Finally, Root Financial Partners LLC bought a new position in Wabtec during the third quarter valued at about $44,000. Hedge funds and other institutional investors own 91.69% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on WAB shares. Susquehanna restated a "positive" rating and set a $305.00 price objective on shares of Wabtec in a report on Thursday, April 23rd. Wall Street Zen downgraded shares of Wabtec from a "buy" rating to a "hold" rating in a research report on Saturday, March 14th. Morgan Stanley restated an "overweight" rating and set a $318.00 price target on shares of Wabtec in a research note on Monday. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Wabtec in a report on Monday, April 20th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $290.00 price objective (down from $300.00) on shares of Wabtec in a research note on Tuesday, March 31st. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $289.82.

Wabtec Stock Performance

NYSE:WAB opened at $270.54 on Friday. The business's fifty day moving average is $255.17 and its 200 day moving average is $230.70. The firm has a market cap of $45.90 billion, a price-to-earnings ratio of 38.27, a PEG ratio of 1.87 and a beta of 0.99. 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 52-week low of $183.98 and a 52-week high of $275.84.

Wabtec (NYSE:WAB - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The transportation company reported $2.71 EPS for the quarter, topping the consensus estimate of $2.62 by $0.09. The business had revenue of $2.95 billion during 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 firm's revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.28 EPS. Wabtec has set its FY 2026 guidance at 10.250-10.650 EPS. Research analysts predict that Wabtec will post 10.61 EPS for the current year.

Wabtec Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 17th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.5%. This is an increase from Wabtec's previous quarterly dividend of $0.25. The ex-dividend date was Tuesday, February 17th. Wabtec's dividend payout ratio (DPR) is 17.54%.

Wabtec declared that its Board of Directors has authorized a share repurchase program on Wednesday, February 11th that allows the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization allows the transportation company to purchase up to 2.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Insider Activity at Wabtec

In related news, insider Nalin Jain sold 7,936 shares of the company's stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $264.09, for a total transaction of $2,095,818.24. Following the sale, the insider owned 6,364 shares of the company's stock, valued at approximately $1,680,668.76. This represents a 55.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Gina Trombley sold 4,013 shares of the stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $241.87, for a total transaction of $970,624.31. Following the completion of the sale, the executive vice president owned 13,841 shares in the company, valued at $3,347,722.67. This represents a 22.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 92,364 shares of company stock valued at $24,522,522 in the last quarter. 0.57% of the stock is currently owned by company 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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