Wabtec $WAB Shares Bought by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. lifted its stake in shares of Wabtec (NYSE:WAB) by 28.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 138,665 shares of the transportation company’s stock after acquiring an additional 30,896 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Wabtec were worth $27,798,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Wabtec by 374.2% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 135,996 shares of the transportation company’s stock worth $27,146,000 after acquiring an additional 107,314 shares during the last quarter. Alberta Investment Management Corp acquired a new stake in Wabtec during the 3rd quarter worth $842,000. Pzena Investment Management LLC grew its position in Wabtec by 1.9% during the 3rd quarter. Pzena Investment Management LLC now owns 367,582 shares of the transportation company’s stock worth $73,689,000 after purchasing an additional 6,886 shares during the last quarter. CenterBook Partners LP acquired a new position in Wabtec in the third quarter valued at $1,153,000. Finally, MJP Associates Inc. ADV increased its stake in Wabtec by 8.1% in the third quarter. MJP Associates Inc. ADV now owns 3,870 shares of the transportation company’s stock valued at $776,000 after purchasing an additional 290 shares during the period. 91.69% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Wabtec

In other Wabtec news, insider Michael Fetsko sold 5,058 shares of Wabtec stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $215.72, for a total transaction of $1,091,111.76. Following the completion of the transaction, the insider owned 36,882 shares in the company, valued at approximately $7,956,185.04. The trade was a 12.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Rafael Santana sold 1,798 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $245.71, for a total value of $441,786.58. Following the completion of the sale, the chief executive officer directly owned 118,749 shares in the company, valued at approximately $29,177,816.79. The trade was a 1.49% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 15,673 shares of company stock worth $3,420,576. Corporate insiders own 1.10% of the company’s stock.

Wabtec Trading Up 1.0%

Shares of WAB stock opened at $261.95 on Friday. Wabtec has a 1-year low of $151.81 and a 1-year high of $263.66. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.11 and a quick ratio of 0.57. The business’s fifty day moving average price is $230.02 and its 200 day moving average price is $209.11. The firm has a market capitalization of $44.67 billion, a PE ratio of 38.35, a P/E/G ratio of 1.96 and a beta of 1.01.

Wabtec (NYSE:WAB) last issued its earnings results on Wednesday, February 11th. The transportation company reported $2.10 EPS for the quarter, topping the consensus estimate of $2.08 by $0.02. The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.86 billion. Wabtec had a net margin of 10.48% and a return on equity of 14.12%. The business’s revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.68 EPS. Wabtec has set its FY 2026 guidance at 10.050-10.450 EPS. As a group, sell-side analysts forecast that Wabtec will post 8.54 EPS for the current fiscal year.

Wabtec declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 11th that permits the company to buyback $1.20 billion in outstanding shares. This buyback authorization permits the transportation company to reacquire up to 2.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Wabtec Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Tuesday, February 17th will be issued a $0.31 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.5%. This is an increase from Wabtec’s previous quarterly dividend of $0.25. Wabtec’s payout ratio is currently 18.16%.

Wall Street Analysts Forecast Growth

WAB has been the subject of a number of recent research reports. KeyCorp increased their price objective on Wabtec from $240.00 to $308.00 and gave the stock an “overweight” rating in a research report on Thursday, February 12th. Wells Fargo & Company upped their price target on Wabtec from $224.00 to $270.00 and gave the stock an “equal weight” rating in a research note on Friday, February 13th. Citigroup increased their price target on Wabtec from $258.00 to $283.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Stephens boosted their price objective on shares of Wabtec from $230.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, February 12th. Finally, Susquehanna set a $300.00 price objective on shares of Wabtec in a research report on Thursday, February 12th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Wabtec currently has an average rating of “Moderate Buy” and a consensus price target of $269.00.

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.