Royal London Asset Management Ltd. Has $259.06 Million Position in Wabtec $WAB

Royal London Asset Management Ltd. lessened its position in Wabtec (NYSE:WAB) by 3.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 960,916 shares of the transportation company’s stock after selling 31,533 shares during the period. Royal London Asset Management Ltd. owned approximately 0.57% of Wabtec worth $259,063,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of WAB. Nissay Asset Management Corp Japan boosted its position in shares of Wabtec by 3.8% during the second quarter. Nissay Asset Management Corp Japan now owns 22,852 shares of the transportation company’s stock worth $6,161,000 after purchasing an additional 826 shares in the last quarter. BNP Paribas lifted its holdings in Wabtec by 11.9% during the second quarter. BNP Paribas now owns 13,700 shares of the transportation company’s stock worth $3,678,000 after acquiring an additional 1,452 shares in the last quarter. Kingsview Wealth Management LLC acquired a new position in Wabtec in the second quarter valued at about $404,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Wabtec in the second quarter valued at about $244,000. Finally, Rakuten Investment Management Inc. increased its holdings in shares of Wabtec by 9.7% in the second quarter. Rakuten Investment Management Inc. now owns 27,781 shares of the transportation company’s stock worth $7,454,000 after acquiring an additional 2,453 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on WAB shares. KeyCorp raised their price target on Wabtec from $308.00 to $340.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Susquehanna increased their target price on Wabtec from $305.00 to $340.00 and gave the stock a “positive” rating in a research note on Thursday, July 23rd. JPMorgan Chase & Co. raised their target price on shares of Wabtec from $300.00 to $315.00 and gave the stock a “neutral” rating in a report on Thursday, July 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Wabtec in a report on Friday, July 17th. Finally, Citigroup upped their target price on shares of Wabtec from $311.00 to $341.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Wabtec has an average rating of “Moderate Buy” and a consensus target price of $313.36.

Insider Buying and Selling at Wabtec

In other news, insider Michael Fetsko sold 3,250 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $293.22, for a total transaction of $952,965.00. Following the sale, the insider owned 37,380 shares in the company, valued at $10,960,563.60. This represents a 8.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Sameer Gaur sold 1,000 shares of the stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $300.64, for a total transaction of $300,640.00. Following the transaction, the insider owned 10,985 shares in the company, valued at approximately $3,302,530.40. The trade was a 8.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 21,036 shares of company stock valued at $6,113,542 in the last ninety days. Insiders own 0.57% of the company’s stock.

Wabtec Price Performance

NYSE WAB opened at $292.28 on Friday. The company has a quick ratio of 0.59, a current ratio of 1.12 and a debt-to-equity ratio of 0.44. Wabtec has a 12-month low of $184.26 and a 12-month high of $306.64. The company has a market capitalization of $49.37 billion, a PE ratio of 39.28, a price-to-earnings-growth ratio of 2.01 and a beta of 0.93. The firm’s 50 day moving average is $282.66 and its 200-day moving average is $266.81.

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

Wabtec Announces Dividend

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

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.