Farallon Capital Management LLC Raises Stake in Wabtec $WAB

Farallon Capital Management LLC increased its position in Wabtec (NYSE:WAB) by 68.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,205,098 shares of the transportation company’s stock after buying an additional 896,900 shares during the period. Wabtec comprises 1.8% of Farallon Capital Management LLC’s portfolio, making the stock its 15th largest holding. Farallon Capital Management LLC owned approximately 1.29% of Wabtec worth $442,056,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Focus Partners Wealth grew its stake in Wabtec by 13.4% in the 3rd quarter. Focus Partners Wealth now owns 25,577 shares of the transportation company’s stock worth $5,128,000 after acquiring an additional 3,031 shares during the period. Distillate Capital Partners LLC purchased a new stake in Wabtec in the 3rd quarter worth approximately $15,689,000. Brevan Howard Capital Management LP lifted its stake in shares of Wabtec by 47.2% during the 3rd quarter. Brevan Howard Capital Management LP now owns 14,439 shares of the transportation company’s stock worth $2,895,000 after purchasing an additional 4,630 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. lifted its stake in shares of Wabtec by 1.9% during the 3rd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 65,829 shares of the transportation company’s stock worth $13,197,000 after purchasing an additional 1,213 shares during the period. Finally, Bridgefront Capital LLC lifted its stake in shares of Wabtec by 76.6% during the 3rd quarter. Bridgefront Capital LLC now owns 6,166 shares of the transportation company’s stock worth $1,236,000 after purchasing an additional 2,674 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Wabtec Stock Down 1.6%

Shares of WAB opened at $236.60 on Monday. Wabtec has a fifty-two week low of $151.81 and a fifty-two week high of $266.27. The company’s fifty day moving average is $242.37 and its two-hundred day moving average is $216.49. The firm has a market cap of $40.34 billion, a PE ratio of 34.64, a price-to-earnings-growth ratio of 1.79 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.

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

Wabtec announced that its board has initiated a stock repurchase program on Wednesday, February 11th that allows the company to buyback $1.20 billion in shares. This buyback authorization allows the transportation company to purchase up to 2.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Wabtec Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Tuesday, February 17th were paid a dividend of $0.31 per share. 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%. The ex-dividend date was Tuesday, February 17th. Wabtec’s payout ratio is currently 18.16%.

Insider Activity at Wabtec

In other news, insider Sameer Gaur sold 1,150 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $262.62, for a total transaction of $302,013.00. Following the completion of the sale, the insider owned 12,017 shares in the company, valued at approximately $3,155,904.54. The trade was a 8.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Rafael Santana sold 1,163 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $243.10, for a total transaction of $282,725.30. Following the sale, the chief executive officer directly owned 190,744 shares of the company’s stock, valued at approximately $46,369,866.40. This trade represents a 0.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 33,310 shares of company stock valued at $8,541,509 over the last three months. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

WAB has been the topic of several analyst reports. Susquehanna set a $300.00 price objective on Wabtec in a report on Thursday, February 12th. Stephens upped their target price on Wabtec from $230.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, February 12th. Citigroup increased their target price on Wabtec from $258.00 to $283.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Weiss Ratings reissued a “buy (b)” rating on shares of Wabtec in a research note on Wednesday, January 21st. Finally, KeyCorp lifted their price target on Wabtec from $240.00 to $308.00 and gave the company an “overweight” rating in a report on Thursday, February 12th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Wabtec has an average rating of “Moderate Buy” and a consensus target price 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.