Edgestream Partners L.P. Invests $10.62 Million in Wabtec $WAB

Edgestream Partners L.P. purchased a new position in Wabtec (NYSE:WAB) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 42,475 shares of the transportation company’s stock, valued at approximately $10,615,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of WAB. Norges Bank acquired a new position in shares of Wabtec in the 4th quarter worth approximately $409,039,000. Price T Rowe Associates Inc. MD lifted its stake in Wabtec by 20.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,965,503 shares of the transportation company’s stock worth $1,700,238,000 after purchasing an additional 1,344,744 shares during the last quarter. Bank of Montreal Can boosted its holdings in Wabtec by 360.0% in the fourth quarter. Bank of Montreal Can now owns 885,197 shares of the transportation company’s stock worth $188,945,000 after purchasing an additional 692,773 shares during the period. UBS Group AG increased its stake in Wabtec by 194.2% during the third quarter. UBS Group AG now owns 1,033,304 shares of the transportation company’s stock valued at $207,146,000 after purchasing an additional 682,048 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Wabtec by 288.0% during the first quarter. Assenagon Asset Management S.A. now owns 851,733 shares of the transportation company’s stock valued at $212,857,000 after purchasing an additional 632,218 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Insiders Place Their Bets

In related news, CTO Eric Gebhardt sold 7,100 shares of the stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $299.27, for a total value of $2,124,817.00. Following the completion of the transaction, the chief technology officer owned 19,153 shares in the company, valued at $5,731,918.31. This represents a 27.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP David L. Deninno sold 3,000 shares of the firm’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $301.31, for a total transaction of $903,930.00. Following the transaction, the vice president directly owned 55,128 shares in the company, valued at approximately $16,610,617.68. The trade was a 5.16% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 16,834 shares of company stock worth $4,833,958. Insiders own 0.57% of the company’s stock.

Wabtec Price Performance

NYSE WAB opened at $292.04 on Thursday. The company has a 50-day moving average price of $268.27 and a two-hundred day moving average price of $257.11. The stock has a market cap of $49.33 billion, a price-to-earnings ratio of 39.25, a price-to-earnings-growth ratio of 2.07 and a beta of 0.94. The company has a current ratio of 1.12, a quick ratio of 0.59 and a debt-to-equity ratio of 0.44. Wabtec has a 52 week low of $184.26 and a 52 week high of $306.64.

Wabtec (NYSE:WAB) last issued its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.60 by $0.16. Wabtec had a return on equity of 15.10% and a net margin of 10.59%.The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.07 billion. During the same period in the previous year, the firm posted $2.27 earnings per share. The business’s revenue was up 17.5% on a year-over-year basis. Wabtec has set its FY 2026 guidance at 10.600-10.900 EPS. Analysts forecast that Wabtec will post 10.86 EPS for the current year.

Wabtec Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.24 annualized dividend and a yield of 0.4%. Wabtec’s payout ratio is presently 16.67%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on WAB. Morgan Stanley raised their price target on shares of Wabtec from $318.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Stephens raised their target price on shares of Wabtec from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Wells Fargo & Company lifted their target price on Wabtec from $284.00 to $315.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. Wall Street Zen upgraded Wabtec from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Finally, Wolfe Research reissued an “outperform” rating and issued a $303.00 price target on shares of Wabtec in a report on Thursday, April 23rd. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $310.64.

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.