Pallas Capital Advisors LLC Takes $1.39 Million Position in Wabtec $WAB

Pallas Capital Advisors LLC purchased a new position in Wabtec (NYSE:WAB) during the second quarter, HoldingsChannel reports. The firm purchased 5,149 shares of the transportation company’s stock, valued at approximately $1,388,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its holdings in Wabtec by 20.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,965,503 shares of the transportation company’s stock valued at $1,700,238,000 after buying an additional 1,344,744 shares in the last quarter. State Street Corp grew its stake in Wabtec by 2.6% in the 4th quarter. State Street Corp now owns 7,658,040 shares of the transportation company’s stock worth $1,634,609,000 after acquiring an additional 197,610 shares in the last quarter. Geode Capital Management LLC grew its stake in Wabtec by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 4,366,157 shares of the transportation company’s stock worth $928,249,000 after acquiring an additional 38,029 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Wabtec by 3.6% during the third quarter. Wellington Management Group LLP now owns 3,304,183 shares of the transportation company’s stock worth $662,390,000 after acquiring an additional 116,329 shares during the period. Finally, Farallon Capital Management LLC increased its position in shares of Wabtec by 12.3% during the fourth quarter. Farallon Capital Management LLC now owns 2,476,003 shares of the transportation company’s stock worth $528,503,000 after acquiring an additional 270,905 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Wabtec Stock Down 1.8%

Wabtec stock opened at $295.34 on Wednesday. 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 has a market cap of $49.89 billion, a P/E ratio of 39.70, a P/E/G ratio of 2.03 and a beta of 0.93. The business has a fifty day moving average of $278.22 and a two-hundred day moving average of $263.70. Wabtec has a twelve month low of $184.26 and a twelve month high of $306.64.

Wabtec (NYSE:WAB) last announced its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $2.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.60 by $0.16. The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.07 billion. Wabtec had a return on equity of 15.10% and a net margin of 10.59%.The business’s revenue was up 17.5% compared to the same quarter last year. During the same period last year, the business posted $2.27 EPS. Wabtec has set its FY 2026 guidance at 10.600-10.900 EPS. On average, analysts forecast that Wabtec will post 10.86 earnings per share for the current fiscal year.

Wabtec Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 0.4%. The ex-dividend date is Tuesday, August 18th. Wabtec’s payout ratio is 16.67%.

Insiders Place Their Bets

In other news, insider Sameer Gaur sold 1,082 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $263.50, for a total value of $285,107.00. Following the sale, the insider directly owned 11,985 shares in the company, valued at approximately $3,158,047.50. This trade represents a 8.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David L. Deninno sold 3,000 shares of Wabtec 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 transaction, the vice president directly owned 55,128 shares in the company, valued at approximately $16,610,617.68. The trade was a 5.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 17,786 shares of company stock valued at $5,160,577 in the last three months. 0.57% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on WAB shares. Susquehanna boosted their price target on Wabtec from $305.00 to $340.00 and gave the company a “positive” rating in a report on Thursday, July 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wabtec in a research report on Friday, July 17th. Wolfe Research reiterated an “outperform” rating and issued a $303.00 target price on shares of Wabtec in a report on Thursday, April 23rd. KeyCorp increased their price target on Wabtec from $308.00 to $340.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Finally, Wall Street Zen lowered Wabtec from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $313.36.

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.