Bristol Gate Capital Partners Inc. Has $81.32 Million Stock Holdings in Wabtec $WAB

Bristol Gate Capital Partners Inc. lowered its holdings in shares of Wabtec (NYSE:WAB) by 1.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 380,974 shares of the transportation company’s stock after selling 5,334 shares during the period. Wabtec makes up about 4.7% of Bristol Gate Capital Partners Inc.’s holdings, making the stock its 8th biggest holding. Bristol Gate Capital Partners Inc.’s holdings in Wabtec were worth $81,319,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of WAB. Varma Mutual Pension Insurance Co raised its stake in Wabtec by 9.1% during the third quarter. Varma Mutual Pension Insurance Co now owns 47,924 shares of the transportation company’s stock worth $9,607,000 after buying an additional 4,000 shares during the last quarter. SG Americas Securities LLC raised its stake in Wabtec by 809.6% during the fourth quarter. SG Americas Securities LLC now owns 152,297 shares of the transportation company’s stock worth $32,508,000 after buying an additional 135,553 shares during the last quarter. Alberta Investment Management Corp bought a new position in Wabtec during the third quarter worth $842,000. 111 Capital bought a new position in Wabtec during the third quarter worth $949,000. Finally, Nordea Investment Management AB raised its stake in Wabtec by 55.5% during the fourth quarter. Nordea Investment Management AB now owns 3,069,340 shares of the transportation company’s stock worth $659,939,000 after buying an additional 1,095,083 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. KeyCorp lifted their target price on shares of Wabtec from $240.00 to $308.00 and gave the stock an “overweight” rating in a research note on Thursday, February 12th. Wells Fargo & Company lifted their target price on shares of Wabtec from $270.00 to $284.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 23rd. Jefferies Financial Group reissued a “buy” rating and set a $290.00 target price (down from $300.00) on shares of Wabtec in a research note on Tuesday, March 31st. Stephens lifted their target price on shares of Wabtec from $230.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, February 12th. Finally, Citigroup lifted their price target on shares of Wabtec from $283.00 to $292.00 and gave the company a “buy” rating in a research note on Thursday, April 9th. Ten equities 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 $289.82.

Insider Transactions at Wabtec

In other news, CEO Rafael Santana sold 1,163 shares of Wabtec stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $263.77, for a total transaction of $306,764.51. Following the completion of the transaction, the chief executive officer directly owned 127,566 shares in the company, valued at $33,648,083.82. This trade represents a 0.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gina Trombley sold 4,013 shares of Wabtec stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $241.87, for a total transaction of $970,624.31. Following the transaction, the executive vice president owned 13,841 shares of the company’s stock, valued at $3,347,722.67. This represents a 22.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 87,277 shares of company stock valued at $23,216,740. 0.57% of the stock is owned by insiders.

Wabtec Trading Up 0.7%

WAB opened at $257.00 on Friday. Wabtec has a 1-year low of $184.26 and a 1-year high of $275.84. The company has a current ratio of 1.02, a quick ratio of 0.54 and a debt-to-equity ratio of 0.42. The company has a market cap of $43.61 billion, a P/E ratio of 36.35, a price-to-earnings-growth ratio of 1.83 and a beta of 0.97. The company has a fifty day moving average price of $256.87 and a two-hundred day moving average price of $237.37.

Wabtec (NYSE:WAB) last posted its quarterly earnings results on Wednesday, April 22nd. The transportation company reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.09. Wabtec had a net margin of 10.52% and a return on equity of 14.52%. The firm had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the previous year, the firm posted $2.28 earnings per share. The business’s revenue was up 13.0% compared to the same quarter last year. Wabtec has set its FY 2026 guidance at 10.250-10.650 EPS. Analysts predict that Wabtec will post 10.61 EPS for the current fiscal year.

Wabtec Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Friday, May 22nd will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Friday, May 22nd. Wabtec’s payout ratio is 17.54%.

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

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.