Connor Clark & Lunn Investment Management Ltd. Decreases Position in Wabtec $WAB

Connor Clark & Lunn Investment Management Ltd. lowered its stake in shares of Wabtec (NYSE:WAB) by 73.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,019 shares of the transportation company’s stock after selling 134,264 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Wabtec were worth $12,946,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Wabtec in the second quarter worth $3,741,077,000. Norges Bank bought a new stake in shares of Wabtec in the fourth quarter valued at $409,039,000. Price T Rowe Associates Inc. MD lifted its position in shares of 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 during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Wabtec during the 2nd quarter valued at $212,692,000. Finally, Deutsche Bank AG bought a new position in shares of Wabtec during the 2nd quarter worth $207,228,000. Institutional investors own 91.69% of the company’s stock.

Insider Buying and Selling at Wabtec

In other news, insider Sameer Gaur sold 1,082 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $263.50, for a total transaction of $285,107.00. Following the sale, the insider directly owned 11,985 shares in the company, valued at $3,158,047.50. This represents a 8.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Michael Fetsko sold 3,250 shares of the stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $293.22, for a total transaction of $952,965.00. Following the completion of the sale, the insider directly owned 37,380 shares in the company, valued at approximately $10,960,563.60. The trade was a 8.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 21,036 shares of company stock worth $6,113,542. 0.57% of the stock is owned by corporate insiders.

Wabtec Price Performance

Wabtec stock opened at $297.10 on Wednesday. Wabtec has a one year low of $184.26 and a one year high of $306.64. The business has a fifty day moving average price of $281.28 and a 200-day moving average price of $265.84. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.12 and a quick ratio of 0.59. The firm has a market capitalization of $50.18 billion, a P/E ratio of 39.93, a PEG ratio of 2.02 and a beta of 0.93.

Wabtec (NYSE:WAB) last announced its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.60 by $0.16. Wabtec had a return on equity of 15.10% and a net margin of 10.59%.The company had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.07 billion. During the same period in the previous year, the business earned $2.27 earnings per share. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. Wabtec has set its FY 2026 guidance at 10.600-10.900 EPS. As a group, equities research analysts forecast that Wabtec will post 10.86 EPS for the current 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. The ex-dividend date is Tuesday, August 18th. This represents a $1.24 annualized dividend and a yield of 0.4%. Wabtec’s dividend payout ratio (DPR) is currently 16.67%.

Analysts Set New Price Targets

WAB has been the subject of several recent research reports. Morgan Stanley lifted their price objective on Wabtec from $318.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. KeyCorp upped their price objective on shares of Wabtec from $308.00 to $340.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. JPMorgan Chase & Co. increased their target price on shares of Wabtec from $300.00 to $315.00 and gave the stock a “neutral” rating in a research report on Thursday, July 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Wabtec in a research note on Friday, July 17th. Finally, Wells Fargo & Company boosted their price target on shares of Wabtec from $284.00 to $315.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Wabtec presently has a consensus rating of “Moderate Buy” and an average 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.