Glenmede Trust Co. NA lowered its holdings in Wabtec (NYSE:WAB - Free Report) by 11.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,449 shares of the transportation company's stock after selling 6,170 shares during the quarter. Glenmede Trust Co. NA's holdings in Wabtec were worth $11,608,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the business. Whipplewood Advisors LLC purchased a new position in shares of Wabtec during the 1st quarter worth $25,000. Clal Insurance Enterprises Holdings Ltd raised 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 buying an additional 73 shares during the period. Manchester Capital Management LLC raised its holdings 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 period. McMillan Office Inc. acquired a new position in Wabtec in the fourth quarter valued at about $31,000. Finally, Reflection Asset Management acquired a new position in Wabtec in the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 91.69% of the company's stock.
Insiders Place Their Bets
In other news, CTO Eric Gebhardt sold 7,100 shares of the firm's stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $299.27, for a total transaction of $2,124,817.00. Following the sale, the chief technology officer owned 19,153 shares of the company's stock, valued at approximately $5,731,918.31. This trade represents a 27.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sameer Gaur sold 1,082 shares of the business's stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $263.50, for a total value 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. The trade was a 8.28% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 15,671 shares of company stock worth $4,527,193. Insiders own 0.57% of the company's stock.
Wabtec Trading Up 0.3%
WAB opened at $291.74 on Monday. The business has a fifty day moving average price of $269.72 and a 200 day moving average price of $258.05. 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. The stock has a market capitalization of $49.28 billion, a price-to-earnings ratio of 39.21, a PEG ratio of 1.97 and a beta of 0.93.
Wabtec (NYSE:WAB - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $2.76 earnings per share for the quarter, beating analysts' consensus estimates of $2.60 by $0.16. Wabtec had a net margin of 10.59% and a return on equity of 15.10%. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.07 billion. During the same period last year, the business earned $2.27 EPS. The company's revenue was up 17.5% on a year-over-year basis. Wabtec has set its FY 2026 guidance at 10.600-10.900 EPS. Sell-side analysts expect that Wabtec will post 10.86 earnings per share for the current fiscal year.
Wabtec Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be issued a $0.31 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.4%. Wabtec's dividend payout ratio is presently 16.67%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the stock. Susquehanna lifted their price target on shares of Wabtec from $305.00 to $340.00 and gave the company a "positive" rating in a research report on Thursday, July 23rd. JPMorgan Chase & Co. upped their price objective on shares of Wabtec from $300.00 to $315.00 and gave the stock a "neutral" rating in a report on Thursday, July 23rd. Stephens increased their price objective on shares of Wabtec from $320.00 to $330.00 and gave the stock an "overweight" rating in a research report on Thursday, July 23rd. Wolfe Research reiterated an "outperform" rating and issued a $303.00 target price on shares of Wabtec in a report on Thursday, April 23rd. Finally, Citigroup cut their target price on Wabtec from $313.00 to $311.00 and set a "buy" rating on the stock in a research report on Monday, July 13th. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $310.64.
Get Our Latest Report on Wabtec
About Wabtec
(
Free Report)
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.
Further Reading
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