Bristol Gate Capital Partners Inc. Sells 121,712 Shares of Wabtec $WAB

Bristol Gate Capital Partners Inc. reduced its position in Wabtec (NYSE:WAB) by 34.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 234,949 shares of the transportation company’s stock after selling 121,712 shares during the period. Wabtec accounts for about 4.4% of Bristol Gate Capital Partners Inc.’s investment portfolio, making the stock its 12th biggest position. Bristol Gate Capital Partners Inc. owned about 0.14% of Wabtec worth $63,343,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Welch & Forbes LLC raised its holdings in shares of Wabtec by 1.8% during the 2nd quarter. Welch & Forbes LLC now owns 2,050 shares of the transportation company’s stock worth $553,000 after acquiring an additional 36 shares in the last quarter. Meeder Advisory Services Inc. grew its holdings in shares of Wabtec by 1.6% in the first quarter. Meeder Advisory Services Inc. now owns 2,471 shares of the transportation company’s stock valued at $618,000 after purchasing an additional 38 shares in the last quarter. Hilltop Holdings Inc. grew its holdings in shares of Wabtec by 3.9% in the fourth quarter. Hilltop Holdings Inc. now owns 1,069 shares of the transportation company’s stock valued at $228,000 after purchasing an additional 40 shares in the last quarter. L2 Asset Management LLC increased its position in Wabtec by 5.0% in the second quarter. L2 Asset Management LLC now owns 960 shares of the transportation company’s stock worth $259,000 after purchasing an additional 46 shares during the last quarter. Finally, Apollon Wealth Management LLC increased its position in Wabtec by 1.6% in the first quarter. Apollon Wealth Management LLC now owns 3,081 shares of the transportation company’s stock worth $770,000 after purchasing an additional 48 shares during the last quarter. 91.69% of the stock is owned by institutional investors.

Wabtec Trading Down 0.2%

WAB stock opened at $297.10 on Wednesday. Wabtec has a twelve month low of $184.26 and a twelve month high of $306.64. The stock has a market capitalization of $50.18 billion, a price-to-earnings ratio of 39.93, a price-to-earnings-growth ratio of 2.02 and a beta of 0.93. The company has a quick ratio of 0.59, a current ratio of 1.12 and a debt-to-equity ratio of 0.44. The firm’s fifty day simple moving average is $281.28 and its two-hundred day simple moving average is $265.84.

Wabtec (NYSE:WAB) last released its earnings results 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 net margin of 10.59% and a return on equity of 15.10%. The firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.07 billion. During the same quarter last year, the business earned $2.27 EPS. 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. As a group, analysts anticipate that Wabtec will post 10.86 earnings per share for the current year.

Wabtec Announces Dividend

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 given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Tuesday, August 18th. Wabtec’s payout ratio is 16.67%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on WAB shares. Wells Fargo & Company increased their price objective on shares of Wabtec from $284.00 to $315.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. Morgan Stanley upped their target price on shares of Wabtec from $318.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Citigroup increased their price target on shares of Wabtec from $311.00 to $341.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Susquehanna lifted their price target on Wabtec from $305.00 to $340.00 and gave the stock a “positive” rating in a research report on Thursday, July 23rd. Finally, Wall Street Zen downgraded Wabtec from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $313.36.

Insider Buying and Selling at Wabtec

In related news, VP David L. Deninno sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $301.31, for a total transaction of $903,930.00. Following the completion of the sale, the vice president directly owned 55,128 shares of the company’s stock, valued at approximately $16,610,617.68. This trade represents a 5.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Eric Gebhardt sold 7,100 shares of the business’s stock in a transaction on 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 transaction, the chief technology officer owned 19,153 shares of the company’s stock, valued at approximately $5,731,918.31. The trade was a 27.04% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 21,036 shares of company stock valued at $6,113,542. 0.57% of the stock is owned by company insiders.

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.