Wabtec $WAB Shares Purchased by BI Asset Management Fondsmaeglerselskab A S

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its Wabtec stake by 328.6% in the first quarter, ending with 42,029 shares valued at about $10.5 million.
• Wall Street sentiment is generally positive: 10 analysts rate Wabtec a Buy, two rate it Hold, and the average price target is $289.82.
• Wabtec recently beat earnings expectations with $2.71 EPS versus $2.62 expected, while revenue rose 13% year over year to $2.95 billion; the company also paid a quarterly dividend of $0.31 per share.

BI Asset Management Fondsmaeglerselskab A S lifted its position in Wabtec (NYSE:WAB - Free Report) by 328.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,029 shares of the transportation company's stock after purchasing an additional 32,223 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Wabtec were worth $10,503,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd boosted its holdings 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 purchasing an additional 73 shares during the last quarter. Manchester Capital Management LLC grew its stake in shares of 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 period. McMillan Office Inc. acquired a new stake in shares of Wabtec during the 4th quarter worth approximately $31,000. Reflection Asset Management purchased a new stake in shares of Wabtec during the 4th quarter valued at approximately $35,000. Finally, BOKF NA lifted its holdings in 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 acquiring an additional 70 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on WAB shares. Wells Fargo & Company increased their price objective on Wabtec from $270.00 to $284.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 23rd. Wall Street Zen lowered Wabtec from a "buy" rating to a "hold" rating in a research note on Saturday, March 14th. Rothschild & Co Redburn upgraded Wabtec from a "neutral" rating to a "buy" rating and increased their price target for the stock from $262.00 to $285.00 in a report on Thursday, March 26th. Citigroup raised their price objective on Wabtec from $283.00 to $292.00 and gave the stock a "buy" rating in a research report on Thursday, April 9th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Wabtec in a report on Monday, April 20th. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $289.82.

Insider Transactions at Wabtec

In other news, insider Sameer Gaur sold 1,082 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $263.50, for a total transaction of $285,107.00. Following the sale, the insider owned 11,985 shares of the company's stock, valued at approximately $3,158,047.50. This represents a 8.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Rafael Santana sold 60,852 shares of the firm's stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $268.89, for a total transaction of $16,362,494.28. Following the completion of the transaction, the chief executive officer directly owned 128,729 shares of the company's stock, valued at approximately $34,613,940.81. The trade was a 32.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 65,423 shares of company stock valued at $17,562,278 over the last 90 days. 0.57% of the stock is currently owned by company insiders.

Wabtec Stock Up 0.2%

Shares of NYSE WAB opened at $274.49 on Monday. The firm has a market cap of $46.58 billion, a price-to-earnings ratio of 38.82, a PEG ratio of 1.96 and a beta of 0.94. The company has a quick ratio of 0.54, a current ratio of 1.02 and a debt-to-equity ratio of 0.42. Wabtec has a 52-week low of $184.26 and a 52-week high of $278.39. The business's 50 day moving average is $264.12 and its two-hundred day moving average is $246.02.

Wabtec (NYSE:WAB - Get Free Report) last released 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 return on equity of 14.52% and a net margin of 10.52%.The business had revenue of $2.95 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same period last year, the business posted $2.28 earnings per share. The company's quarterly revenue was up 13.0% on a year-over-year basis. Wabtec has set its FY 2026 guidance at 10.250-10.650 EPS. Research analysts predict that Wabtec will post 10.61 EPS for the current year.

Wabtec Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Friday, May 22nd were issued 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 was Friday, May 22nd. Wabtec's dividend payout ratio (DPR) is 17.54%.

About Wabtec

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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