Resona Asset Management Co. Ltd. Acquires 181,296 Shares of Wabtec $WAB

Resona Asset Management Co. Ltd. lifted its holdings in shares of Wabtec (NYSE:WAB) by 348.6% during the second quarter, HoldingsChannel reports. The firm owned 233,300 shares of the transportation company’s stock after purchasing an additional 181,296 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Wabtec were worth $62,806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in WAB. Meeder Advisory Services Inc. grew its position in Wabtec by 1.6% during the first quarter. Meeder Advisory Services Inc. now owns 2,471 shares of the transportation company’s stock valued at $618,000 after buying an additional 38 shares during the period. Hilltop Holdings Inc. raised its position in Wabtec by 3.9% in the fourth quarter. Hilltop Holdings Inc. now owns 1,069 shares of the transportation company’s stock worth $228,000 after acquiring an additional 40 shares during the period. Apollon Wealth Management LLC raised its position in Wabtec by 1.6% in the first quarter. Apollon Wealth Management LLC now owns 3,081 shares of the transportation company’s stock worth $770,000 after acquiring an additional 48 shares during the period. IHT Wealth Management LLC boosted its stake in Wabtec by 1.0% in the fourth quarter. IHT Wealth Management LLC now owns 4,856 shares of the transportation company’s stock valued at $1,037,000 after acquiring an additional 50 shares during the last quarter. Finally, DGS Capital Management LLC boosted its stake in Wabtec by 5.2% in the first quarter. DGS Capital Management LLC now owns 1,051 shares of the transportation company’s stock valued at $263,000 after acquiring an additional 52 shares during the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Rafael Santana sold 1,163 shares of the business’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $299.04, for a total transaction of $347,783.52. Following the sale, the chief executive officer directly owned 120,588 shares in the company, valued at approximately $36,060,635.52. The trade was a 0.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Eric Gebhardt sold 7,100 shares of the stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $299.27, for a total value of $2,124,817.00. Following the sale, the chief technology officer directly owned 19,153 shares in the company, valued at $5,731,918.31. This trade represents a 27.04% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 16,834 shares of company stock worth $4,874,977. Insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

WAB has been the subject of several research analyst reports. KeyCorp raised their price target on shares of Wabtec from $308.00 to $340.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Stephens upped their price objective on Wabtec from $320.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Wolfe Research reissued an “outperform” rating and set a $303.00 price objective on shares of Wabtec in a report on Thursday, April 23rd. Wall Street Zen downgraded Wabtec from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Finally, Susquehanna boosted their target price on Wabtec from $305.00 to $340.00 and gave the company a “positive” rating in a research note on Thursday, July 23rd. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $313.36.

Wabtec Price Performance

Shares of NYSE:WAB opened at $297.93 on Friday. The firm has a market capitalization of $50.32 billion, a PE ratio of 40.04, a P/E/G ratio of 2.00 and a beta of 0.93. 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 company has a 50-day moving average price of $276.02 and a two-hundred day moving average price of $262.26. Wabtec has a twelve month low of $184.26 and a twelve month high of $306.64.

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

Wabtec Announces Dividend

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

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.