Wabtec $WAB Stock Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management reduced its Wabtec stake by 4.5% in the third quarter, selling 8,696 shares and retaining 186,556 shares valued at approximately $53.6 million. Institutional investors collectively own 91.69% of Wabtec.
• Wabtec signed a roughly $400 million, multiyear South African rail-services agreement with Transnet Engineering, potentially strengthening its services backlog and international rail presence.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $313.55 target price, although Citi lowered its target to $338. Wabtec also maintained its $0.31 quarterly dividend, while upcoming earnings face potential cost and supply-chain pressures.

Assenagon Asset Management S.A. reduced its stake in Wabtec (NYSE:WAB - Free Report) by 4.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 186,556 shares of the transportation company's stock after selling 8,696 shares during the period. Assenagon Asset Management S.A. owned 0.11% of Wabtec worth $53,575,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Welch & Forbes LLC grew its position in shares of Wabtec by 1.8% during the 2nd quarter. Welch & Forbes LLC now owns 2,050 shares of the transportation company's stock worth $553,000 after buying an additional 36 shares in the last quarter. Parkside Financial Bank & Trust increased its position in Wabtec by 4.5% during the 2nd quarter. Parkside Financial Bank & Trust now owns 851 shares of the transportation company's stock valued at $229,000 after purchasing an additional 37 shares during the period. Meeder Advisory Services Inc. raised its stake in Wabtec by 1.6% in the first quarter. Meeder Advisory Services Inc. now owns 2,471 shares of the transportation company's stock worth $618,000 after buying an additional 38 shares in the last quarter. Legacy Financial Advisors Inc. raised its position in shares of Wabtec by 3.4% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 1,141 shares of the transportation company's stock worth $308,000 after acquiring an additional 38 shares in the last quarter. Finally, L2 Asset Management LLC raised its holdings in Wabtec by 5.0% in the second quarter. L2 Asset Management LLC now owns 960 shares of the transportation company's stock worth $259,000 after purchasing an additional 46 shares in the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

More Wabtec News

Here are the key news stories impacting Wabtec this week:

• Positive Sentiment: Major South African rail contract: Wabtec signed a R6.6 billion (approximately $400 million) agreement with Transnet Engineering to improve the performance and reliability of South Africa’s diesel locomotive fleet. The multiyear support work should strengthen Wabtec’s services backlog and reinforce its international rail presence, although the timing of revenue recognition was not disclosed. Wabtec signs R6.6bn agreement to help enhance South African freight loco performance
• Positive Sentiment: Quarterly dividend maintained: Wabtec declared a $0.31-per-share quarterly dividend, payable December 1 to shareholders of record November 17. The dividend signals continued shareholder distributions, though the annualized yield is relatively low at about 0.4%.
• Neutral Sentiment: Third-quarter results approaching: Analysts expect double-digit year-over-year revenue and earnings growth for the quarter ended September 2026. Wabtec’s prior quarter also exceeded consensus estimates, reporting $2.76 in adjusted earnings per share on $3.18 billion of revenue, but the upcoming release could be closely scrutinized because the stock trades at a premium valuation.
• Negative Sentiment: Cost and supply-chain risks could limit an earnings beat: Rising costs and supply-chain disruptions may pressure margins or make it harder for Wabtec to exceed expectations despite projected sales and profit growth. Wabtec Gears Up to Report Q3 Earnings
• Negative Sentiment: Citi trims price target: Citi reduced its Wabtec price target from $341 to $338. While the revised target still implies upside relative to recent trading levels, the cut suggests somewhat less near-term confidence in the shares.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WAB. Citigroup cut their price objective on shares of Wabtec from $341.00 to $338.00 and set a "buy" rating on the stock in a research report on Thursday, October 8th. Stephens increased their target price on shares of Wabtec from $320.00 to $330.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. KeyCorp raised their target price on shares of Wabtec from $308.00 to $340.00 and gave the company an "overweight" rating in a research note on Thursday, July 23rd. Weiss Ratings raised shares of Wabtec from a "buy (b)" rating to a "buy (b+)" rating in a report on Thursday, October 8th. Finally, Wells Fargo & Company lifted their price target 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 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.com, Wabtec has an average rating of "Moderate Buy" and a consensus target price of $313.55.

Wabtec Price Performance

NYSE WAB opened at $286.46 on Friday. The company has a market cap of $48.39 billion, a price-to-earnings ratio of 38.50, a PEG ratio of 1.94 and a beta of 0.92. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.12 and a quick ratio of 0.59. The stock's fifty day moving average price is $288.34 and its 200 day moving average price is $275.09. Wabtec has a 1 year low of $186.06 and a 1 year high of $306.64.

Wabtec (NYSE:WAB - Get Free Report) last issued its quarterly 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 during the quarter, compared to analysts' expectations of $3.07 billion. Wabtec had a return on equity of 15.10% and a net margin of 10.59%. The firm's revenue was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.27 EPS. Wabtec has set its FY 2026 guidance at 10.600-10.900 EPS. As a group, equities research analysts forecast that Wabtec will post 10.89 earnings per share for the current year.

Wabtec Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, November 17th will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.4%. Wabtec's payout ratio is 16.67%.

Insider Transactions at Wabtec

In related news, EVP Gregory Sbrocco sold 952 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $300.00, for a total value of $285,600.00. Following the transaction, the executive vice president owned 21,043 shares in the company, valued at approximately $6,312,900. This represents a 4.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Eric Gebhardt sold 7,100 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief technology officer directly owned 19,153 shares of the company's stock, valued at $5,731,918.31. This represents a 27.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 17,552 shares of company stock valued at $5,232,911 over the last quarter. Company insiders own 0.57% of the company's stock.

About Wabtec

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.

Want to see what other hedge funds are holding WAB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wabtec (NYSE:WAB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.