Wabtec $WAB Shares Sold by Picton Mahoney Asset Management

Picton Mahoney Asset Management cut its stake in shares of Wabtec (NYSE:WAB) by 10.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,390 shares of the transportation company’s stock after selling 9,215 shares during the quarter. Picton Mahoney Asset Management’s holdings in Wabtec were worth $15,114,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Wabtec by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 19,930,893 shares of the transportation company’s stock worth $4,172,532,000 after acquiring an additional 493,437 shares during the period. Geode Capital Management LLC raised its stake in shares of Wabtec by 0.7% in the second quarter. Geode Capital Management LLC now owns 4,288,014 shares of the transportation company’s stock worth $893,830,000 after purchasing an additional 30,489 shares during the last quarter. Boston Partners lifted its holdings in shares of Wabtec by 9.0% during the second quarter. Boston Partners now owns 2,261,456 shares of the transportation company’s stock worth $471,410,000 after purchasing an additional 186,248 shares during the period. Nordea Investment Management AB boosted its position in Wabtec by 24.0% in the third quarter. Nordea Investment Management AB now owns 1,974,257 shares of the transportation company’s stock valued at $393,252,000 after buying an additional 381,728 shares during the last quarter. Finally, Norges Bank purchased a new stake in Wabtec in the second quarter valued at approximately $347,194,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Wabtec Stock Performance

WAB opened at $260.70 on Wednesday. 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 firm has a fifty day moving average price of $237.61 and a 200 day moving average price of $213.49. Wabtec has a 1 year low of $151.81 and a 1 year high of $266.27. The stock has a market cap of $44.45 billion, a P/E ratio of 38.17, a P/E/G ratio of 1.99 and a beta of 0.99.

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

Wabtec Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Tuesday, February 17th were paid a $0.31 dividend. The ex-dividend date was Tuesday, February 17th. This represents a $1.24 annualized dividend and a dividend yield of 0.5%. This is a boost from Wabtec’s previous quarterly dividend of $0.25. Wabtec’s dividend payout ratio (DPR) is presently 18.16%.

Wabtec declared that its board has initiated a stock buyback plan on Wednesday, February 11th that authorizes the company to buyback $1.20 billion in outstanding shares. This buyback authorization authorizes the transportation company to purchase up to 2.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

WAB has been the subject of a number of recent research reports. Citigroup raised their price target on shares of Wabtec from $258.00 to $283.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Bank of America increased their price objective on shares of Wabtec from $228.00 to $233.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Wells Fargo & Company raised their target price on shares of Wabtec from $224.00 to $270.00 and gave the stock an “equal weight” rating in a report on Friday, February 13th. Stephens boosted their target price on shares of Wabtec from $230.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday, February 12th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $315.00 price target on shares of Wabtec in a research report on Tuesday, February 17th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $269.00.

Insider Buying and Selling

In other Wabtec news, CFO John A. Olin sold 11,000 shares of the stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $263.30, for a total transaction of $2,896,300.00. Following the transaction, the chief financial officer owned 60,487 shares in the company, valued at approximately $15,926,227.10. This represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP David L. Deninno sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $214.62, for a total value of $1,073,100.00. Following the completion of the sale, the vice president directly owned 50,450 shares in the company, valued at approximately $10,827,579. The trade was a 9.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 40,211 shares of company stock worth $9,885,467 in the last ninety days. 1.10% of the stock is owned by corporate insiders.

About Wabtec

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.