Pinebridge Investments LLC Takes Position in Wabtec $WAB

Pinebridge Investments LLC bought a new stake in Wabtec (NYSE:WAB) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 453,245 shares of the transportation company’s stock, valued at approximately $96,745,000. Wabtec makes up approximately 0.7% of Pinebridge Investments LLC’s holdings, making the stock its 29th biggest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WAB. Guggenheim Capital LLC increased its position in Wabtec by 7.4% in the second quarter. Guggenheim Capital LLC now owns 4,938 shares of the transportation company’s stock worth $1,034,000 after purchasing an additional 342 shares during the period. Bank of Nova Scotia boosted its holdings in Wabtec by 0.5% during the second quarter. Bank of Nova Scotia now owns 17,890 shares of the transportation company’s stock worth $3,745,000 after buying an additional 97 shares during the last quarter. Nebula Research & Development LLC boosted its holdings in Wabtec by 208.7% during the second quarter. Nebula Research & Development LLC now owns 5,386 shares of the transportation company’s stock worth $1,128,000 after buying an additional 3,641 shares during the last quarter. Treasurer of the State of North Carolina boosted its holdings in Wabtec by 11.6% during the second quarter. Treasurer of the State of North Carolina now owns 92,097 shares of the transportation company’s stock worth $19,281,000 after buying an additional 9,545 shares during the last quarter. Finally, Ieq Capital LLC boosted its holdings in Wabtec by 19.2% during the second quarter. Ieq Capital LLC now owns 30,352 shares of the transportation company’s stock worth $6,354,000 after buying an additional 4,889 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Rafael Santana sold 1,163 shares of Wabtec stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $263.77, for a total value of $306,764.51. Following the sale, the chief executive officer owned 127,566 shares of the company’s stock, valued at approximately $33,648,083.82. This trade represents a 0.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gina Trombley sold 4,013 shares of Wabtec stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $241.87, for a total value of $970,624.31. Following the completion of the sale, 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 position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 67,191 shares of company stock worth $17,922,608. 0.57% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on WAB shares. Morgan Stanley restated an “overweight” rating and set a $318.00 target price on shares of Wabtec in a report on Monday, April 27th. Wall Street Zen cut Wabtec from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Rothschild & Co Redburn upgraded Wabtec from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $262.00 to $285.00 in a report on Thursday, March 26th. Wolfe Research reiterated an “outperform” rating and set a $303.00 price objective on shares of Wabtec in a report on Thursday, April 23rd. Finally, Susquehanna reiterated a “positive” rating and set a $305.00 price objective on shares of Wabtec in a report on Thursday, April 23rd. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $289.82.

Wabtec Trading Down 0.7%

NYSE:WAB opened at $260.77 on Friday. Wabtec has a fifty-two week low of $184.26 and a fifty-two week high of $275.84. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.02 and a quick ratio of 0.54. The stock has a market capitalization of $44.25 billion, a PE ratio of 36.88, a price-to-earnings-growth ratio of 1.88 and a beta of 0.94. The business’s 50-day simple moving average is $261.06 and its 200-day simple moving average is $241.22.

Wabtec (NYSE:WAB) last released 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 return on equity of 14.52% and a net margin of 10.52%.The business had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the previous year, the business posted $2.28 EPS. Wabtec’s revenue for the quarter was up 13.0% on a year-over-year basis. Wabtec has set its FY 2026 guidance at 10.250-10.650 EPS. Sell-side analysts expect that Wabtec will post 10.61 earnings per share for the current fiscal year.

Wabtec announced that its Board of Directors has initiated a share buyback plan on Wednesday, February 11th that permits the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization permits the transportation company to buy up to 2.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Wabtec Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Friday, May 22nd were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Friday, May 22nd. Wabtec’s dividend payout ratio (DPR) is currently 17.54%.

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.