Candriam S.C.A. Sells 115,526 Shares of Wabtec $WAB

Candriam S.C.A. reduced its stake in shares of Wabtec (NYSE:WAB) by 25.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 331,492 shares of the transportation company’s stock after selling 115,526 shares during the period. Candriam S.C.A.’s holdings in Wabtec were worth $82,843,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of WAB. Guggenheim Capital LLC boosted its position in shares of Wabtec by 7.4% during the second quarter. Guggenheim Capital LLC now owns 4,938 shares of the transportation company’s stock valued at $1,034,000 after buying an additional 342 shares during the last quarter. Bank of Nova Scotia lifted its stake in Wabtec by 0.5% during the 2nd quarter. Bank of Nova Scotia now owns 17,890 shares of the transportation company’s stock valued at $3,745,000 after acquiring an additional 97 shares in the last quarter. Nebula Research & Development LLC lifted its stake in Wabtec by 208.7% during the 2nd quarter. Nebula Research & Development LLC now owns 5,386 shares of the transportation company’s stock valued at $1,128,000 after acquiring an additional 3,641 shares in the last quarter. Treasurer of the State of North Carolina boosted its holdings in Wabtec by 11.6% during the 2nd quarter. Treasurer of the State of North Carolina now owns 92,097 shares of the transportation company’s stock worth $19,281,000 after acquiring an additional 9,545 shares during the last quarter. Finally, Ieq Capital LLC grew its stake in shares of Wabtec by 19.2% in the 2nd quarter. Ieq Capital LLC now owns 30,352 shares of the transportation company’s stock worth $6,354,000 after acquiring an additional 4,889 shares in the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on WAB. Rothschild & Co Redburn upgraded shares of Wabtec from a “neutral” rating to a “buy” rating and increased their target price for the company from $262.00 to $285.00 in a report on Thursday, March 26th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $290.00 price objective (down from $300.00) on shares of Wabtec in a research report on Tuesday, March 31st. Citigroup increased their price objective on shares of Wabtec from $283.00 to $292.00 and gave the company a “buy” rating in a research note on Thursday, April 9th. Stephens raised shares of Wabtec to a “strong-buy” rating in a research report on Wednesday. Finally, Morgan Stanley restated an “overweight” rating and issued a $318.00 target price on shares of Wabtec in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $289.82.

Insider Transactions at Wabtec

In related news, CEO Rafael Santana sold 60,852 shares of the firm’s stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $268.89, for a total value of $16,362,494.28. Following the completion of the transaction, the chief executive officer directly owned 128,729 shares of the company’s stock, valued at approximately $34,613,940.81. This trade represents a 32.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sameer Gaur sold 1,082 shares of Wabtec stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $263.50, for a total transaction of $285,107.00. Following the completion of the transaction, the insider owned 11,985 shares of the company’s stock, valued at $3,158,047.50. This represents a 8.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 66,586 shares of company stock valued at $17,867,065 in the last quarter. Company insiders own 0.57% of the company’s stock.

Wabtec Price Performance

Shares of NYSE WAB opened at $261.50 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.54 and a debt-to-equity ratio of 0.42. The stock has a fifty day simple moving average of $264.85 and a two-hundred day simple moving average of $251.37. Wabtec has a 1-year low of $184.26 and a 1-year high of $284.91. The firm has a market cap of $44.37 billion, a price-to-earnings ratio of 36.99, a price-to-earnings-growth ratio of 1.86 and a beta of 0.94.

Wabtec (NYSE:WAB) last issued its earnings results on Wednesday, April 22nd. The transportation company reported $2.71 earnings per share (EPS) 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 firm had revenue of $2.95 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the previous year, the company posted $2.28 earnings per share. The business’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. Analysts anticipate that Wabtec will post 10.61 earnings per share for the current year.

Wabtec Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Friday, May 22nd were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.24 annualized dividend and a yield of 0.5%. Wabtec’s dividend payout ratio is 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.