Victory Capital Management Inc. Cuts Position in Wabtec $WAB

Key Points

• Victory Capital trimmed its stake in Wabtec by 7.3% in Q3, selling 7,128 shares and retaining 90,716 shares worth about $18.19 million (≈0.05% of the company).
• Wabtec announced a $1.2 billion share buyback (up to 2.9% of shares) and raised its quarterly dividend to $0.31; the company also reported a quarterly EPS beat ($2.10 vs. $2.08), revenue up 14.8% year-over-year, and set FY2026 guidance of $10.050–$10.450 EPS.
• Insiders have sold 33,192 shares in the past 90 days (≈$8.38 million) even as institutional ownership is high (91.69%) and analysts maintain a "Moderate Buy" consensus with an average price target of $269.00.

Victory Capital Management Inc. trimmed its holdings in shares of Wabtec (NYSE:WAB - Free Report) by 7.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 90,716 shares of the transportation company's stock after selling 7,128 shares during the period. Victory Capital Management Inc. owned approximately 0.05% of Wabtec worth $18,186,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Penserra Capital Management LLC grew its stake in shares of Wabtec by 9.9% in the 2nd quarter. Penserra Capital Management LLC now owns 933 shares of the transportation company's stock worth $195,000 after buying an additional 84 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in Wabtec by 24.5% in the second quarter. Los Angeles Capital Management LLC now owns 7,504 shares of the transportation company's stock worth $1,571,000 after acquiring an additional 1,478 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in Wabtec by 7.3% in the second quarter. Parkside Financial Bank & Trust now owns 797 shares of the transportation company's stock worth $167,000 after acquiring an additional 54 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Wabtec in the second quarter worth $2,542,000. Finally, Profund Advisors LLC grew its stake in shares of Wabtec by 31.1% in the second quarter. Profund Advisors LLC now owns 2,409 shares of the transportation company's stock worth $504,000 after acquiring an additional 571 shares during the last quarter. 91.69% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Gregory Sbrocco sold 952 shares of Wabtec stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $258.43, for a total transaction of $246,025.36. Following the transaction, the executive vice president directly owned 21,159 shares in the company, valued at approximately $5,468,120.37. The trade was a 4.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sameer Gaur sold 1,150 shares of the company's stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $262.62, for a total value of $302,013.00. Following the completion of the sale, the insider owned 12,017 shares of the company's stock, valued at approximately $3,155,904.54. The trade was a 8.73% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 33,192 shares of company stock worth $8,379,272. Company insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on WAB shares. Citigroup lifted their price target on Wabtec from $258.00 to $283.00 and gave the stock a "buy" rating in a research report on Thursday, February 12th. Susquehanna set a $300.00 target price on shares of Wabtec in a research note on Thursday, February 12th. KeyCorp increased their price target on shares of Wabtec from $240.00 to $308.00 and gave the company an "overweight" rating in a report on Thursday, February 12th. Weiss Ratings reissued a "buy (b)" rating on shares of Wabtec in a research report on Wednesday, January 21st. Finally, Stephens upped their price objective on Wabtec from $230.00 to $290.00 and gave the company an "overweight" rating in a research report on Thursday, February 12th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $269.00.

Wabtec Trading Down 0.2%

Wabtec stock opened at $246.53 on Wednesday. Wabtec has a 52-week low of $151.81 and a 52-week high of $266.27. The company has a market cap of $42.04 billion, a P/E ratio of 36.09, a P/E/G ratio of 1.86 and a beta of 0.99. The company has a quick ratio of 0.57, a current ratio of 1.11 and a debt-to-equity ratio of 0.38. The business has a 50-day simple moving average of $240.77 and a two-hundred day simple moving average of $215.52.

Wabtec (NYSE:WAB - Get Free Report) last posted its quarterly earnings data on Wednesday, February 11th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.08 by $0.02. The company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.86 billion. Wabtec had a net margin of 10.48% and a return on equity of 14.12%. The firm's revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.68 earnings per share. Wabtec has set its FY 2026 guidance at 10.050-10.450 EPS. Analysts predict that Wabtec will post 8.54 EPS for the current year.

Wabtec announced that its board has initiated a stock buyback program on Wednesday, February 11th that permits the company to repurchase $1.20 billion in shares. This repurchase authorization permits the transportation company to purchase up to 2.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's management believes its stock is undervalued.

Wabtec Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 17th were paid a dividend of $0.31 per share. The ex-dividend date was Tuesday, February 17th. This represents a $1.24 annualized dividend and a dividend yield of 0.5%. This is a boost from Wabtec's previous quarterly dividend of $0.25. Wabtec's dividend payout ratio is 18.16%.

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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