Wabtec $WAB Shares Sold by United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund

Key Points

• United Super Pty Ltd cut its Wabtec stake by 48.8% in the fourth quarter, selling 6,300 shares and ending with 6,600 shares valued at about $1.41 million.
• Wabtec reported better-than-expected quarterly EPS of $2.71, though revenue of $2.95 billion came in below analyst estimates; revenue still rose 13% year over year.
• The company’s board authorized a $1.20 billion share repurchase program and also declared a quarterly dividend of $0.31 per share, payable June 3.

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund decreased its holdings in shares of Wabtec (NYSE:WAB - Free Report) by 48.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,600 shares of the transportation company's stock after selling 6,300 shares during the quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund's holdings in Wabtec were worth $1,409,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. CI Investments Inc. grew its holdings in shares of Wabtec by 6.1% during the third quarter. CI Investments Inc. now owns 865 shares of the transportation company's stock valued at $173,000 after buying an additional 50 shares in the last quarter. Carnegie Investment Counsel grew its holdings in shares of Wabtec by 2.6% during the fourth quarter. Carnegie Investment Counsel now owns 2,051 shares of the transportation company's stock valued at $438,000 after buying an additional 51 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Wabtec by 1.3% during the third quarter. Quadrant Capital Group LLC now owns 4,082 shares of the transportation company's stock valued at $818,000 after buying an additional 54 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Wabtec by 11.1% during the fourth quarter. Blue Trust Inc. now owns 549 shares of the transportation company's stock valued at $117,000 after buying an additional 55 shares in the last quarter. Finally, True Wealth Design LLC grew its holdings in shares of Wabtec by 13.9% during the fourth quarter. True Wealth Design LLC now owns 460 shares of the transportation company's stock valued at $98,000 after buying an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company's stock.

Insider Transactions at Wabtec

In other Wabtec news, CEO Rafael Santana sold 1,163 shares of the business's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $263.77, for a total value of $306,764.51. Following the completion of the sale, the chief executive officer owned 127,566 shares of the company's stock, valued at $33,648,083.82. The trade was a 0.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gina Trombley sold 4,013 shares of the business's stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $241.87, for a total value of $970,624.31. Following the completion of the sale, the executive vice president directly owned 13,841 shares of the company's stock, valued at $3,347,722.67. This represents a 22.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 67,191 shares of company stock valued at $17,922,608 in the last ninety days. Insiders own 0.57% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Citigroup lifted their price target on Wabtec from $283.00 to $292.00 and gave the company a "buy" rating in a report on Thursday, April 9th. Jefferies Financial Group reiterated a "buy" rating and set a $290.00 price target (down from $300.00) on shares of Wabtec in a report on Tuesday, March 31st. Stephens lifted their price target on Wabtec from $230.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday, February 12th. KeyCorp lifted their price target on Wabtec from $240.00 to $308.00 and gave the company an "overweight" rating in a report on Thursday, February 12th. Finally, Wolfe Research reissued an "outperform" rating and set a $303.00 price objective on shares of Wabtec in a research report on Thursday, April 23rd. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Wabtec presently has a consensus rating of "Moderate Buy" and an average price target of $289.82.

Wabtec Price Performance

WAB opened at $261.27 on Friday. The stock has a market cap of $44.33 billion, a price-to-earnings ratio of 36.95, a PEG ratio of 1.87 and a beta of 0.97. Wabtec has a 1 year low of $184.26 and a 1 year high of $275.84. The company has a current ratio of 1.02, a quick ratio of 0.54 and a debt-to-equity ratio of 0.42. The stock has a fifty day moving average price of $259.09 and a 200 day moving average price of $239.31.

Wabtec (NYSE:WAB - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The transportation company reported $2.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.62 by $0.09. The firm had revenue of $2.95 billion during the quarter, compared to analysts' expectations of $3.08 billion. Wabtec had a return on equity of 14.52% and a net margin of 10.52%.The business's revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.28 earnings per share. Wabtec has set its FY 2026 guidance at 10.250-10.650 EPS. Analysts forecast that Wabtec will post 10.61 EPS for the current fiscal year.

Wabtec announced that its Board of Directors has authorized a share repurchase program on Wednesday, February 11th that authorizes the company to repurchase $1.20 billion in shares. This repurchase authorization authorizes the transportation company to buy up to 2.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Wabtec Dividend Announcement

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

Wabtec 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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