The Manufacturers Life Insurance Company Sells 7,478 Shares of Wabtec $WAB

Key Points

• The Manufacturers Life Insurance Company cut its Wabtec stake by 7.4%, selling 7,478 shares and retaining 92,940 shares valued at approximately $23.2 million. Institutional investors collectively own 91.69% of the company.
• Analysts remain broadly bullish, with 10 Buy ratings and two Holds; Wabtec has a “Moderate Buy” consensus and an average price target of $310.64.
• Wabtec exceeded quarterly expectations, reporting $2.76 in EPS and $3.18 billion in revenue, up 17.5% year over year. The company also declared a quarterly dividend of $0.31 per share, representing a 0.4% yield.

The Manufacturers Life Insurance Company lowered its stake in shares of Wabtec (NYSE:WAB - Free Report) by 7.4% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 92,940 shares of the transportation company's stock after selling 7,478 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.05% of Wabtec worth $23,227,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WAB. Whipplewood Advisors LLC bought a new position in shares of Wabtec in the first quarter valued at approximately $25,000. 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 buying an additional 73 shares during the last quarter. Manchester Capital Management LLC raised its position in Wabtec by 122.0% in the 4th quarter. Manchester Capital Management LLC now owns 131 shares of the transportation company's stock valued at $28,000 after buying an additional 72 shares during the last quarter. McMillan Office Inc. bought a new position in Wabtec during the 4th quarter valued at $31,000. Finally, Reflection Asset Management purchased a new position in Wabtec during the 4th quarter worth $35,000. 91.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Weiss Ratings reiterated a "buy (b)" rating on shares of Wabtec in a research note on Friday, July 17th. Stephens raised their price target on shares of Wabtec from $320.00 to $330.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. Citigroup reduced their price objective on shares of Wabtec from $313.00 to $311.00 and set a "buy" rating for the company in a research report on Monday, July 13th. Susquehanna upped their price objective on shares of Wabtec from $305.00 to $340.00 and gave the stock a "positive" rating in a research report on Thursday, July 23rd. Finally, KeyCorp lifted their target price on shares of Wabtec from $308.00 to $340.00 and gave the stock an "overweight" rating in a research report on Thursday, July 23rd. Ten 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 stock presently has an average rating of "Moderate Buy" and an average price target of $310.64.

Wabtec Stock Down 0.2%

Shares of NYSE:WAB opened at $291.74 on Friday. Wabtec has a 1 year low of $184.26 and a 1 year high of $306.64. The company has a market capitalization of $49.28 billion, a PE ratio of 39.21, a price-to-earnings-growth ratio of 1.97 and a beta of 0.94. The business has a fifty day moving average price of $269.72 and a two-hundred day moving average price of $257.83. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.12 and a quick ratio of 0.59.

Wabtec (NYSE:WAB - Get Free Report) last released its earnings results on Wednesday, July 22nd. The transportation company reported $2.76 EPS for the quarter, topping analysts' consensus estimates of $2.60 by $0.16. The company had revenue of $3.18 billion for the quarter, compared to analysts' expectations of $3.07 billion. Wabtec had a return on equity of 15.10% and a net margin of 10.59%.The business's revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.27 EPS. Wabtec has set its FY 2026 guidance at 10.600-10.900 EPS. Analysts forecast that Wabtec will post 10.86 earnings per share for the current year.

Wabtec Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be given a $0.31 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.24 annualized dividend and a yield of 0.4%. Wabtec's payout ratio is currently 16.67%.

Insider Activity at Wabtec

In other Wabtec news, VP David L. Deninno sold 3,000 shares of the business's stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $301.31, for a total value of $903,930.00. Following the transaction, the vice president directly owned 55,128 shares in the company, valued at $16,610,617.68. The trade was a 5.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sameer Gaur sold 1,082 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $263.50, for a total transaction of $285,107.00. Following the transaction, the insider directly owned 11,985 shares of the company's stock, valued at $3,158,047.50. This represents 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 16,834 shares of company stock valued at $4,833,958 in the last three months. Insiders own 0.57% of the company's stock.

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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