Jain Global LLC Increases Stake in Wabtec $WAB

Jain Global LLC increased its stake in Wabtec (NYSE:WAB) by 10,298.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 249,033 shares of the transportation company’s stock after buying an additional 246,638 shares during the period. Wabtec accounts for 0.2% of Jain Global LLC’s portfolio, making the stock its 16th largest position. Jain Global LLC owned approximately 0.15% of Wabtec worth $49,924,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of 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. Wellington Management Group LLP lifted its stake in shares of Wabtec by 3.6% in the 3rd quarter. Wellington Management Group LLP now owns 3,304,183 shares of the transportation company’s stock valued at $662,390,000 after purchasing an additional 116,329 shares during the period. Boston Partners boosted its position in shares of Wabtec by 1.9% during the third quarter. Boston Partners now owns 2,304,832 shares of the transportation company’s stock valued at $462,057,000 after purchasing an additional 43,376 shares in the last quarter. Farallon Capital Management LLC boosted its position in shares of Wabtec by 68.6% during the third quarter. Farallon Capital Management LLC now owns 2,205,098 shares of the transportation company’s stock valued at $442,056,000 after purchasing an additional 896,900 shares in the last quarter. Finally, Nordea Investment Management AB grew its stake 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 worth $393,252,000 after purchasing an additional 381,728 shares during the period. 91.69% of the stock is owned by institutional investors.

Wabtec Stock Down 1.6%

Shares of NYSE:WAB opened at $236.60 on Monday. The company has a current ratio of 1.11, a quick ratio of 0.57 and a debt-to-equity ratio of 0.38. The stock has a fifty day simple moving average of $242.37 and a two-hundred day simple moving average of $216.49. Wabtec has a 12-month low of $151.81 and a 12-month high of $266.27. The stock has a market capitalization of $40.34 billion, a price-to-earnings ratio of 34.64, a PEG ratio of 1.79 and a beta of 0.99.

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

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

Wabtec Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Tuesday, February 17th were given a dividend of $0.31 per share. This is a positive change from Wabtec’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $1.24 annualized dividend and a yield of 0.5%. Wabtec’s payout ratio is currently 18.16%.

Insider Buying and Selling at Wabtec

In other Wabtec news, insider Nalin Jain sold 7,936 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $264.09, for a total transaction of $2,095,818.24. Following the completion of the sale, the insider directly owned 6,364 shares in the company, valued at approximately $1,680,668.76. This trade represents a 55.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Rafael Santana sold 1,163 shares of Wabtec stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $243.10, for a total transaction of $282,725.30. Following the completion of the transaction, the chief executive officer directly owned 190,744 shares of the company’s stock, valued at $46,369,866.40. This trade represents a 0.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 33,310 shares of company stock worth $8,541,509 in the last 90 days. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

WAB has been the subject of a number of research reports. Morgan Stanley reiterated an “overweight” rating and issued a $315.00 price objective on shares of Wabtec in a report on Tuesday, February 17th. Wall Street Zen cut shares of Wabtec from a “buy” rating to a “hold” rating in a report on Saturday. Stephens upped their target price on shares of Wabtec from $230.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, February 12th. Susquehanna set a $300.00 price target on shares of Wabtec in a research note on Thursday, February 12th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Wabtec from $215.00 to $245.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $269.00.

Wabtec Company 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.