Wabtec (NYSE:WAB) Short Interest Up 12.9% in April

Wabtec (NYSE:WAB) was the recipient of a significant increase in short interest in April. As of April 15th, there was short interest totaling 2,493,303 shares, an increase of 12.9% from the March 31st total of 2,207,643 shares. Approximately 1.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,245,609 shares, the short-interest ratio is presently 2.0 days.

Wabtec Trading Up 3.5%

Shares of NYSE WAB opened at $270.54 on Friday. The company’s 50 day simple moving average is $255.17 and its 200 day simple moving average is $230.70. Wabtec has a fifty-two week low of $183.98 and a fifty-two week high of $275.84. The firm has a market capitalization of $45.90 billion, a P/E ratio of 38.27, a P/E/G ratio of 1.87 and a beta of 0.99. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.02 and a quick ratio of 0.54.

Wabtec (NYSE:WAB) last announced its quarterly earnings data on Wednesday, April 22nd. The transportation company reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.09. Wabtec had a net margin of 10.52% and a return on equity of 14.52%. The business had revenue of $2.95 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the prior year, the business posted $2.28 earnings per share. Wabtec’s revenue was up 13.0% compared to the same quarter last year. Wabtec has set its FY 2026 guidance at 10.250-10.650 EPS. On average, analysts predict that Wabtec will post 10.61 EPS for the current year.

Wabtec Increases Dividend

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

Wabtec announced that its board has authorized a stock buyback program on Wednesday, February 11th that permits the company to repurchase $1.20 billion in outstanding 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 typically an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Wabtec

In other news, EVP Gina Trombley sold 4,013 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $241.87, for a total transaction of $970,624.31. Following the transaction, the executive vice president directly owned 13,841 shares in the company, valued at approximately $3,347,722.67. This represents a 22.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rafael Santana sold 60,852 shares of the company’s stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $268.89, for a total transaction of $16,362,494.28. Following the transaction, the chief executive officer owned 128,729 shares in the company, valued at $34,613,940.81. The trade was a 32.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 92,364 shares of company stock valued at $24,522,522. 0.57% of the stock is owned by company insiders.

Institutional Investors Weigh In On Wabtec

Hedge funds have recently bought and sold shares of the company. Whipplewood Advisors LLC acquired a new stake in Wabtec in the first quarter worth $25,000. Piscataqua Savings Bank raised its holdings in Wabtec by 12,800.0% in the third quarter. Piscataqua Savings Bank now owns 129 shares of the transportation company’s stock worth $26,000 after purchasing an additional 128 shares during the period. Clal Insurance Enterprises Holdings Ltd raised its holdings in Wabtec by 125.9% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 131 shares of the transportation company’s stock worth $28,000 after purchasing an additional 73 shares during the period. Manchester Capital Management LLC raised its holdings in Wabtec by 122.0% in the fourth quarter. Manchester Capital Management LLC now owns 131 shares of the transportation company’s stock worth $28,000 after purchasing an additional 72 shares during the period. Finally, Motco raised its holdings in Wabtec by 6,600.0% in the third quarter. Motco now owns 134 shares of the transportation company’s stock worth $27,000 after purchasing an additional 132 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WAB has been the topic of a number of research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Wabtec in a research report on Monday, April 20th. Wolfe Research reiterated an “outperform” rating and set a $303.00 target price on shares of Wabtec in a research report on Thursday, April 23rd. JPMorgan Chase & Co. reduced their target price on shares of Wabtec from $290.00 to $280.00 and set a “neutral” rating on the stock in a research report on Friday, April 10th. Susquehanna reiterated a “positive” rating and set a $305.00 target price on shares of Wabtec in a research report on Thursday, April 23rd. Finally, Morgan Stanley reiterated an “overweight” rating and set a $318.00 target price on shares of Wabtec in a research report on Monday. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Wabtec currently has a consensus rating of “Moderate Buy” and a consensus target price of $289.82.

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.