Comerica Bank Cuts Stake in Wabtec $WAB

Comerica Bank reduced its stake in Wabtec (NYSE:WAB) by 8.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,617 shares of the transportation company’s stock after selling 3,319 shares during the period. Comerica Bank’s holdings in Wabtec were worth $7,389,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of WAB. CI Investments Inc. lifted its holdings in Wabtec by 6.1% in the third quarter. CI Investments Inc. now owns 865 shares of the transportation company’s stock valued at $173,000 after acquiring an additional 50 shares during the period. Carnegie Investment Counsel lifted its holdings in Wabtec by 2.6% in the fourth quarter. Carnegie Investment Counsel now owns 2,051 shares of the transportation company’s stock valued at $438,000 after acquiring an additional 51 shares during the period. Quadrant Capital Group LLC raised its stake 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 worth $818,000 after buying an additional 54 shares during the period. Blue Trust Inc. raised its stake in shares of Wabtec by 11.1% in the fourth quarter. Blue Trust Inc. now owns 549 shares of the transportation company’s stock worth $117,000 after buying an additional 55 shares during the period. Finally, True Wealth Design LLC raised its stake in shares of Wabtec by 13.9% in the fourth quarter. True Wealth Design LLC now owns 460 shares of the transportation company’s stock worth $98,000 after buying an additional 56 shares during the period. 91.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WAB has been the topic of several recent research reports. Stephens raised their price objective on Wabtec from $230.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, February 12th. KeyCorp raised their price objective on Wabtec from $240.00 to $308.00 and gave the stock an “overweight” rating in a research note on Thursday, February 12th. Wells Fargo & Company lifted their price target on shares of Wabtec from $270.00 to $284.00 and gave the company an “equal weight” rating in a report on Thursday, April 23rd. Morgan Stanley reaffirmed an “overweight” rating and set a $318.00 price target on shares of Wabtec in a report on Monday. Finally, Citigroup lifted their price target on shares of Wabtec from $283.00 to $292.00 and gave the company a “buy” rating in a report on Thursday, April 9th. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $289.82.

Wabtec Stock Performance

NYSE:WAB opened at $261.51 on Thursday. The company has a current ratio of 1.02, a quick ratio of 0.54 and a debt-to-equity ratio of 0.42. Wabtec has a 12-month low of $180.06 and a 12-month high of $275.84. The stock has a 50-day moving average price of $255.00 and a 200 day moving average price of $230.42. The stock has a market capitalization of $44.37 billion, a P/E ratio of 36.99, a P/E/G ratio of 1.91 and a beta of 0.99.

Wabtec (NYSE:WAB) last released its earnings results on Wednesday, April 22nd. The transportation company reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.09. Wabtec had a return on equity of 14.52% and a net margin of 10.52%.The firm had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter last year, the business posted $2.28 earnings per share. The firm’s revenue was up 13.0% on a year-over-year basis. Wabtec has set its FY 2026 guidance at 10.250-10.650 EPS. Equities research analysts forecast that Wabtec will post 10.61 EPS for the current fiscal year.

Wabtec Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Tuesday, February 17th were given a dividend of $0.31 per share. This is an increase from Wabtec’s previous quarterly dividend of $0.25. This represents a $1.24 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Tuesday, February 17th. Wabtec’s dividend payout ratio (DPR) is 17.54%.

Wabtec declared that its board has authorized a stock repurchase plan on Wednesday, February 11th that permits the company to buyback $1.20 billion in shares. This buyback authorization permits the transportation company to buy up to 2.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, EVP Gina Trombley sold 4,013 shares of the stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $241.87, for a total transaction of $970,624.31. Following the completion of the sale, the executive vice president owned 13,841 shares in the company, valued at approximately $3,347,722.67. This trade represents a 22.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nalin Jain sold 7,936 shares of the stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $264.09, for a total value of $2,095,818.24. Following the sale, the insider owned 6,364 shares of the company’s stock, valued at $1,680,668.76. This represents a 55.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 92,364 shares of company stock valued at $24,522,522 in the last three months. 0.57% of the stock is currently owned by insiders.

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.