Wabtec $WAB Stock: Contravisory Investment Management Inc. Grows Position

Key Points

• Contravisory Investment Management increased its Wabtec stake by 490.9% in the third quarter, bringing its holdings to 32,793 shares valued at approximately $9.4 million. Institutional investors collectively own 91.69% of Wabtec.
• Analysts remain broadly positive, with 10 Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $313.55. Morgan Stanley and KeyCorp raised their targets to $355 and $340, respectively.
• Wabtec reported quarterly adjusted earnings of $2.76 per share and revenue of $3.18 billion, exceeding estimates, while year-over-year revenue grew 17.5%. Shares recently traded at $286.33, and the company pays a quarterly dividend of $0.31 per share.

Contravisory Investment Management Inc. raised its stake in shares of Wabtec (NYSE:WAB - Free Report) by 490.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 32,793 shares of the transportation company's stock after purchasing an additional 27,243 shares during the period. Wabtec accounts for about 1.2% of Contravisory Investment Management Inc.'s investment portfolio, making the stock its 23rd biggest holding. Contravisory Investment Management Inc.'s holdings in Wabtec were worth $9,417,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. BlackRock Inc. bought a new position in shares of Wabtec during the 2nd quarter valued at approximately $3,741,077,000. Bank of New York Mellon Corp purchased a new stake in Wabtec in the 2nd quarter worth approximately $212,692,000. Deutsche Bank AG bought a new stake in Wabtec during the 2nd quarter worth approximately $207,228,000. Assenagon Asset Management S.A. raised its stake in Wabtec by 288.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 851,733 shares of the transportation company's stock worth $212,857,000 after acquiring an additional 632,218 shares during the period. Finally, Junto Capital Management LP bought a new stake in Wabtec during the 2nd quarter worth approximately $142,007,000. Hedge funds and other institutional investors own 91.69% of the company's stock.

Insider Buying and Selling at Wabtec

In other news, insider Sameer Gaur sold 1,000 shares of the stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $300.64, for a total transaction of $300,640.00. Following the completion of the transaction, the insider directly owned 10,985 shares in the company, valued at approximately $3,302,530.40. This represents a 8.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Eric Gebhardt sold 7,100 shares of the firm's stock in a transaction on Friday, July 24th. The shares were sold at an average price of $299.27, for a total transaction of $2,124,817.00. Following the completion of the transaction, the chief technology officer directly 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 17,552 shares of company stock worth $5,232,911. Company insiders own 0.57% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on WAB shares. Morgan Stanley upped their price target on shares of Wabtec from $318.00 to $355.00 and gave the stock an "overweight" rating in a research report on Thursday, July 23rd. KeyCorp raised their price objective on shares of Wabtec from $308.00 to $340.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. JPMorgan Chase & Co. raised their price objective on shares of Wabtec from $315.00 to $320.00 and gave the company a "neutral" rating in a research report on Monday, September 21st. Stephens lifted their target price on shares of Wabtec from $320.00 to $330.00 and gave the company an "overweight" rating in a research note on Thursday, July 23rd. Finally, Wells Fargo & Company upped their target price on shares of Wabtec from $284.00 to $315.00 and gave the stock an "equal weight" rating in a report on Thursday, July 23rd. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Wabtec has a consensus rating of "Moderate Buy" and an average target price of $313.55.

Wabtec Price Performance

Shares of Wabtec stock traded up $0.56 on Tuesday, hitting $286.33. 960,465 shares of the company traded hands, compared to its average volume of 905,670. Wabtec has a 52 week low of $186.06 and a 52 week high of $306.64. The business has a 50-day simple moving average of $289.05 and a 200 day simple moving average of $274.13. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.59 and a current ratio of 1.12. The stock has a market capitalization of $48.36 billion, a P/E ratio of 38.49, a price-to-earnings-growth ratio of 1.93 and a beta of 0.92.

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%. The firm's revenue for the quarter was up 17.5% on a year-over-year basis. 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. Research analysts expect that Wabtec will post 10.89 earnings per share for the current fiscal year.

Wabtec Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Tuesday, August 18th. Wabtec's dividend payout ratio is 16.67%.

Wabtec Profile

Wabtec Corporation, also known as Westinghouse Air Brake Technologies Corporation, provides equipment, systems, software and services for the global rail and transit industries. Its offerings support freight railroads, passenger rail operators, transit agencies, mining companies and other transportation customers.

The company manufactures and services locomotives, locomotive engines, braking systems, electronic and control equipment, train components, signaling and communications systems, and digital technologies designed to improve rail safety, efficiency and asset management.

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