Mackenzie Financial Corp Sells 252,777 Shares of Wabtec $WAB

Mackenzie Financial Corp reduced its holdings in shares of Wabtec (NYSE:WAB) by 44.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 314,918 shares of the transportation company’s stock after selling 252,777 shares during the quarter. Mackenzie Financial Corp’s holdings in Wabtec were worth $63,132,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Franklin Resources Inc. grew its stake in Wabtec by 5.4% in the 3rd quarter. Franklin Resources Inc. now owns 36,345 shares of the transportation company’s stock valued at $7,286,000 after buying an additional 1,852 shares in the last quarter. Quadrant Capital Group LLC grew its position in shares of Wabtec by 1.3% in the third quarter. Quadrant Capital Group LLC now owns 4,082 shares of the transportation company’s stock valued at $818,000 after purchasing an additional 54 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Wabtec by 20.3% during the 3rd quarter. Bank of Montreal Can now owns 192,424 shares of the transportation company’s stock valued at $38,575,000 after purchasing an additional 32,519 shares during the period. Legal & General Group Plc raised its stake in shares of Wabtec by 13.0% during the 3rd quarter. Legal & General Group Plc now owns 1,230,060 shares of the transportation company’s stock valued at $246,590,000 after purchasing an additional 141,706 shares during the period. Finally, Sienna Gestion purchased a new stake in Wabtec during the 3rd quarter worth about $9,932,000. 91.69% of the stock is owned by institutional investors.

Wabtec Price Performance

Shares of NYSE WAB opened at $240.29 on Friday. The firm has a market capitalization of $40.97 billion, a P/E ratio of 35.18, a P/E/G ratio of 1.86 and a beta of 0.99. The company has a quick ratio of 0.57, a current ratio of 1.11 and a debt-to-equity ratio of 0.38. The stock’s 50-day simple moving average is $241.96 and its two-hundred day simple moving average is $215.90. Wabtec has a twelve month low of $151.81 and a twelve month high of $266.27.

Wabtec (NYSE:WAB) last issued its quarterly earnings results on Wednesday, February 11th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $2.86 billion. During the same quarter last year, the company posted $1.68 EPS. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. Wabtec has set its FY 2026 guidance at 10.050-10.450 EPS. As a group, equities analysts anticipate that Wabtec will post 8.54 EPS for the current fiscal year.

Wabtec Increases Dividend

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

Wabtec declared that its board has initiated a share repurchase program on Wednesday, February 11th that permits the company to repurchase $1.20 billion in shares. This repurchase authorization permits the transportation company to repurchase up to 2.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on WAB shares. Wolfe Research raised Wabtec from a “peer perform” rating to an “outperform” rating and set a $245.00 target price for the company in a report on Thursday, January 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Wabtec in a report on Wednesday, January 21st. JPMorgan Chase & Co. raised their price objective 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. Wall Street Zen raised shares of Wabtec from a “hold” rating to a “buy” rating in a research note on Monday, March 2nd. Finally, Wells Fargo & Company upped 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. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Wabtec presently has an average rating of “Moderate Buy” and a consensus target price of $269.00.

Insiders Place Their Bets

In other Wabtec news, insider Nalin Jain sold 7,936 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $264.09, for a total value of $2,095,818.24. Following the completion of the transaction, the insider owned 6,364 shares of the company’s stock, valued at $1,680,668.76. The trade was a 55.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO John A. Olin sold 11,000 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer directly owned 60,487 shares in the company, valued at $15,926,227.10. The trade was a 15.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 29,297 shares of company stock worth $7,570,885. 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.