Wabtec $WAB Shares Purchased by Bank of America Corp DE

Key Points

• Bank of America increased its Wabtec stake by 3.5% in the first quarter, acquiring 22,304 additional shares and bringing its holdings to 667,699 shares valued at approximately $166.9 million. Institutional investors collectively own 91.69% of Wabtec.
• Wabtec reported quarterly earnings of $2.76 per share on $3.18 billion in revenue, exceeding analyst expectations, while revenue rose 17.5% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $310.64.
• The company declared a quarterly dividend of $0.31 per share, equivalent to $1.24 annually and a 0.4% yield. Wabtec shares recently opened at $295.79, near their 12-month high of $306.64.

Bank of America Corp DE boosted its stake in Wabtec (NYSE:WAB - Free Report) by 3.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 667,699 shares of the transportation company's stock after acquiring an additional 22,304 shares during the period. Bank of America Corp DE owned about 0.39% of Wabtec worth $166,865,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Guggenheim Capital LLC lifted its stake in Wabtec by 7.4% in the second quarter. Guggenheim Capital LLC now owns 4,938 shares of the transportation company's stock valued at $1,034,000 after buying an additional 342 shares during the last quarter. Bank of Nova Scotia boosted its stake in Wabtec by 0.5% during the 2nd quarter. Bank of Nova Scotia now owns 17,890 shares of the transportation company's stock worth $3,745,000 after purchasing an additional 97 shares during the period. Nebula Research & Development LLC grew its position in Wabtec by 208.7% during the 2nd quarter. Nebula Research & Development LLC now owns 5,386 shares of the transportation company's stock worth $1,128,000 after purchasing an additional 3,641 shares during the last quarter. Treasurer of the State of North Carolina increased its stake in Wabtec by 11.6% in the second quarter. Treasurer of the State of North Carolina now owns 92,097 shares of the transportation company's stock valued at $19,281,000 after purchasing an additional 9,545 shares during the period. Finally, Ieq Capital LLC raised its holdings in shares of Wabtec by 19.2% in the second quarter. Ieq Capital LLC now owns 30,352 shares of the transportation company's stock valued at $6,354,000 after buying an additional 4,889 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company's stock.

Insider Buying and Selling

In other Wabtec news, VP David L. Deninno sold 3,000 shares of the stock in a transaction on Friday, July 24th. The stock was sold at an average price of $301.31, for a total transaction of $903,930.00. Following the sale, the vice president owned 55,128 shares in the company, valued at approximately $16,610,617.68. This represents a 5.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Rafael Santana sold 1,163 shares of the firm's stock in a transaction on Monday, July 6th. The stock was sold at an average price of $262.07, for a total value of $304,787.41. Following the transaction, the chief executive officer directly owned 122,914 shares of the company's stock, valued at $32,212,071.98. The trade was a 0.94% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 15,671 shares of company stock worth $4,527,193 in the last 90 days. Corporate insiders own 0.57% of the company's stock.

Analysts Set New Price Targets

WAB has been the topic of a number of research reports. Wells Fargo & Company raised their price target on Wabtec from $284.00 to $315.00 and gave the stock an "equal weight" rating in a report on Thursday, July 23rd. KeyCorp lifted their target price on Wabtec from $308.00 to $340.00 and gave the company an "overweight" rating in a research note on Thursday, July 23rd. Susquehanna upped their price target on Wabtec from $305.00 to $340.00 and gave the stock a "positive" rating in a research note on Thursday, July 23rd. JPMorgan Chase & Co. increased their price target on Wabtec from $300.00 to $315.00 and gave the stock a "neutral" rating in a report on Thursday, July 23rd. Finally, Morgan Stanley lifted their price objective on shares of Wabtec from $318.00 to $355.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Wabtec currently has an average rating of "Moderate Buy" and a consensus price target of $310.64.

Wabtec Price Performance

Shares of NYSE:WAB opened at $295.79 on Thursday. The business's 50 day simple moving average is $271.95 and its 200-day simple moving average is $259.52. The firm has a market capitalization of $49.96 billion, a price-to-earnings ratio of 39.76, a price-to-earnings-growth ratio of 2.03 and a beta of 0.93. 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 has a 12 month low of $184.26 and a 12 month high of $306.64.

Wabtec (NYSE:WAB - Get Free Report) last posted 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 the consensus estimate of $3.07 billion. Wabtec had a return on equity of 15.10% and a net margin of 10.59%.Wabtec's quarterly revenue was up 17.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.27 earnings per share. Wabtec has set its FY 2026 guidance at 10.600-10.900 EPS. As a group, equities analysts forecast that Wabtec will post 10.86 earnings per share for the current fiscal year.

Wabtec Dividend Announcement

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

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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