Insider Selling: Wabtec (NYSE:WAB) CFO Sells 11,000 Shares of Stock

Wabtec (NYSE:WAB) CFO John Olin sold 11,000 shares of the stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $263.30, for a total value of $2,896,300.00. Following the completion of the transaction, the chief financial officer directly owned 60,487 shares in the company, valued at $15,926,227.10. The trade was a 15.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Wabtec Trading Down 0.5%

Shares of NYSE WAB traded down $1.35 during midday trading on Wednesday, reaching $263.12. 309,588 shares of the stock were exchanged, compared to its average volume of 811,680. The business has a 50-day simple moving average of $232.98 and a two-hundred day simple moving average of $210.99. The company has a market capitalization of $44.87 billion, a price-to-earnings ratio of 38.52, a P/E/G ratio of 1.98 and a beta of 1.01. Wabtec has a 12 month low of $151.81 and a 12 month high of $266.27. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.11 and a quick ratio of 0.57.

Wabtec (NYSE:WAB) last released its quarterly earnings data on Wednesday, February 11th. The transportation company reported $2.10 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.02. The business had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.86 billion. Wabtec had a return on equity of 14.12% and a net margin of 10.48%.Wabtec’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.68 EPS. Wabtec has set its FY 2026 guidance at 10.050-10.450 EPS. As a group, equities research analysts expect that Wabtec will post 8.54 EPS for the current year.

Wabtec announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 11th that allows the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization allows the transportation company to repurchase up to 2.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Wabtec Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 17th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 0.5%. The ex-dividend date is Tuesday, February 17th. This is a positive change from Wabtec’s previous quarterly dividend of $0.25. Wabtec’s dividend payout ratio (DPR) is presently 18.16%.

Institutional Trading of Wabtec

A number of hedge funds have recently added to or reduced their stakes in the stock. Colonial Trust Advisors lifted its holdings in Wabtec by 454.5% in the second quarter. Colonial Trust Advisors now owns 122 shares of the transportation company’s stock valued at $26,000 after buying an additional 100 shares during the period. Piscataqua Savings Bank grew its holdings in Wabtec by 12,800.0% during the 3rd quarter. Piscataqua Savings Bank now owns 129 shares of the transportation company’s stock worth $26,000 after acquiring an additional 128 shares during the period. Clal Insurance Enterprises Holdings Ltd raised its position in shares of Wabtec by 125.9% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 131 shares of the transportation company’s stock worth $28,000 after acquiring an additional 73 shares in the last quarter. Manchester Capital Management LLC lifted its stake in shares of Wabtec by 122.0% in the 4th quarter. Manchester Capital Management LLC now owns 131 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 72 shares during the period. Finally, Motco lifted its stake in shares of Wabtec by 6,600.0% in the 3rd quarter. Motco now owns 134 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 132 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on WAB shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wabtec in a research report on Wednesday, January 21st. Morgan Stanley restated an “overweight” rating and issued a $315.00 price target on shares of Wabtec in a research note on Tuesday, February 17th. KeyCorp upped their price objective on Wabtec from $240.00 to $308.00 and gave the company an “overweight” rating in a report on Thursday, February 12th. JPMorgan Chase & Co. lifted their target price on Wabtec from $215.00 to $245.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Finally, Wells Fargo & Company boosted their target price on shares of Wabtec from $224.00 to $270.00 and gave the company an “equal weight” rating in a research report on Friday, February 13th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Wabtec presently has a consensus rating of “Moderate Buy” and a consensus price target of $269.00.

About Wabtec

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.