Sterling Capital Management LLC Sells 4,356 Shares of Wabtec $WAB

Key Points

• Sterling Capital Management cut its Wabtec stake by 42.1% in the first quarter, selling 4,356 shares and leaving it with 5,987 shares valued at about $1.5 million.
• Insider selling has been active, with CEO Rafael Santana and insider Sameer Gaur both selling shares recently; insiders have sold 65,423 shares worth about $17.6 million over the past 90 days.
• Wabtec’s latest earnings beat EPS expectations at $2.71 per share, though revenue came in below estimates; analysts still mostly remain positive, with a consensus rating of Moderate Buy and a target price of about $289.82.

Sterling Capital Management LLC reduced its position in shares of Wabtec (NYSE:WAB - Free Report) by 42.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,987 shares of the transportation company's stock after selling 4,356 shares during the period. Sterling Capital Management LLC's holdings in Wabtec were worth $1,496,000 at the end of the most recent quarter.

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

Insider Activity at Wabtec

In related news, insider Sameer Gaur sold 1,082 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $263.50, for a total value of $285,107.00. Following the sale, the insider owned 11,985 shares in the company, valued at approximately $3,158,047.50. This represents a 8.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Rafael Santana sold 1,163 shares of Wabtec stock in a transaction on Monday, June 8th. The stock was sold at an average price of $261.06, for a total transaction of $303,612.78. Following the transaction, the chief executive officer directly owned 124,077 shares of the company's stock, valued at approximately $32,391,541.62. This trade represents a 0.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 65,423 shares of company stock worth $17,562,278 in the last 90 days. Corporate insiders own 0.57% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on WAB shares. Morgan Stanley restated an "overweight" rating and set a $318.00 target price on shares of Wabtec in a report on Monday, April 27th. Wall Street Zen lowered shares of Wabtec from a "buy" rating to a "hold" rating in a research note on Saturday, March 14th. Weiss Ratings reissued a "buy (b)" rating on shares of Wabtec in a research report on Monday, April 20th. Citigroup increased their price objective 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. Finally, Jefferies Financial Group restated a "buy" rating and issued a $290.00 price objective (down from $300.00) on shares of Wabtec in a report on Tuesday, March 31st. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $289.82.

Wabtec Stock Performance

Shares of WAB opened at $269.39 on Tuesday. The firm has a 50-day moving average of $265.20 and a 200-day moving average of $248.63. Wabtec has a one year low of $184.26 and a one year high of $284.91. The company has a market cap of $45.71 billion, a PE ratio of 38.10, a price-to-earnings-growth ratio of 1.93 and a beta of 0.94. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.02 and a quick ratio of 0.54.

Wabtec (NYSE:WAB - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The transportation company reported $2.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.62 by $0.09. Wabtec had a net margin of 10.52% and a return on equity of 14.52%. The company had revenue of $2.95 billion for the quarter, compared to analysts' expectations of $3.08 billion. During the same period in the prior year, the firm earned $2.28 EPS. Wabtec'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. As a group, equities analysts forecast that Wabtec will post 10.61 earnings per share for the current year.

Wabtec Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Friday, May 22nd. Wabtec's payout ratio is 17.54%.

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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