Wabtec $WAB Position Boosted by PNC Financial Services Group Inc.

Key Points

• PNC Financial Services Group slightly increased its Wabtec stake in the fourth quarter, adding 3,976 shares and bringing its total holdings to 535,445 shares worth about $114.3 million.
• Wall Street sentiment remains constructive, with multiple analysts raising price targets; the stock now has a consensus rating of Moderate Buy and an average target price of $289.82.
• Wabtec posted better-than-expected EPS of $2.71 in its latest quarter and also announced a quarterly dividend plus a $1.2 billion share buyback authorization.

PNC Financial Services Group Inc. lifted its holdings in Wabtec (NYSE:WAB - Free Report) by 0.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 535,445 shares of the transportation company's stock after purchasing an additional 3,976 shares during the period. PNC Financial Services Group Inc. owned about 0.31% of Wabtec worth $114,291,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Tredje AP fonden boosted its holdings in Wabtec by 24.7% during the fourth quarter. Tredje AP fonden now owns 18,291 shares of the transportation company's stock worth $3,904,000 after buying an additional 3,624 shares in the last quarter. Handelsbanken Fonder AB lifted its position in shares of Wabtec by 40.0% during the 4th quarter. Handelsbanken Fonder AB now owns 146,676 shares of the transportation company's stock valued at $31,308,000 after acquiring an additional 41,877 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of Wabtec by 8.5% during the 4th quarter. ProShare Advisors LLC now owns 31,567 shares of the transportation company's stock valued at $6,738,000 after acquiring an additional 2,474 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of Wabtec by 4.3% during the 4th quarter. HighTower Advisors LLC now owns 19,366 shares of the transportation company's stock worth $4,134,000 after acquiring an additional 807 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in shares of Wabtec by 3.4% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 7,452 shares of the transportation company's stock worth $1,591,000 after acquiring an additional 242 shares during the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on WAB. Wells Fargo & Company boosted their target price on Wabtec from $270.00 to $284.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 23rd. Citigroup lifted their price target on Wabtec from $283.00 to $292.00 and gave the stock a "buy" rating in a research note on Thursday, April 9th. Weiss Ratings restated a "buy (b)" rating on shares of Wabtec in a report on Monday, April 20th. Wolfe Research reaffirmed an "outperform" rating and set a $303.00 price objective on shares of Wabtec in a research note on Thursday, April 23rd. Finally, Morgan Stanley reissued an "overweight" rating and issued a $318.00 target price on shares of Wabtec in a research report on Monday, April 27th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $289.82.

Insider Buying and Selling at Wabtec

In related news, insider Nalin Jain sold 7,936 shares of Wabtec stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $264.09, for a total transaction of $2,095,818.24. Following the completion of the sale, the insider owned 6,364 shares of the company's stock, valued at approximately $1,680,668.76. This trade represents a 55.50% 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 Rogerio Mendonca sold 3,500 shares of the business's stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $264.21, for a total value of $924,735.00. Following the completion of the transaction, the insider owned 10,101 shares in the company, valued at $2,668,785.21. This trade represents a 25.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 90,777 shares of company stock worth $24,141,475 over the last 90 days. 0.57% of the stock is currently owned by insiders.

Wabtec Trading Up 1.6%

NYSE:WAB opened at $259.30 on Thursday. The stock has a market cap of $44.00 billion, a PE ratio of 36.68, a price-to-earnings-growth ratio of 1.83 and a beta of 0.97. Wabtec has a fifty-two week low of $184.26 and a fifty-two week high of $275.84. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.02 and a quick ratio of 0.54. The stock's 50-day moving average is $256.48 and its two-hundred day moving average is $236.88.

Wabtec (NYSE:WAB - Get Free Report) last posted its quarterly 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. Wabtec had a net margin of 10.52% and a return on equity of 14.52%. The business had revenue of $2.95 billion during the quarter, compared to analysts' expectations of $3.08 billion. During the same period last year, the company posted $2.28 earnings per share. The firm'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 research analysts forecast that Wabtec will post 10.61 earnings per share for the current fiscal year.

Wabtec Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Friday, May 22nd will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Friday, May 22nd. Wabtec's payout ratio is currently 17.54%.

Wabtec announced that its Board of Directors has approved a stock buyback plan on Wednesday, February 11th that permits the company to repurchase $1.20 billion in shares. This repurchase authorization permits the transportation company to buy up to 2.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its stock is undervalued.

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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