Man Group plc Cuts Stake in Wabtec $WAB

Man Group plc cut its stake in shares of Wabtec (NYSE:WAB) by 36.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 193,131 shares of the transportation company’s stock after selling 111,525 shares during the quarter. Man Group plc owned about 0.11% of Wabtec worth $52,068,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of WAB. Nomura Asset Management Co. Ltd. raised its holdings in Wabtec by 5.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 85,485 shares of the transportation company’s stock worth $18,247,000 after acquiring an additional 4,266 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Wabtec by 24,274.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 323,936 shares of the transportation company’s stock valued at $69,144,000 after purchasing an additional 322,607 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Wabtec by 16.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 925,021 shares of the transportation company’s stock valued at $197,446,000 after purchasing an additional 132,091 shares during the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Wabtec during the 4th quarter valued at $2,134,000. Finally, Pinnbrook Capital Management LP bought a new stake in shares of Wabtec in the 4th quarter worth $7,743,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Wabtec Trading Down 0.2%

Wabtec stock opened at $297.10 on Wednesday. Wabtec has a 52-week low of $184.26 and a 52-week high of $306.64. The company has a market cap of $50.18 billion, a P/E ratio of 39.93, a P/E/G ratio of 2.02 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 business has a 50-day simple moving average of $281.28 and a two-hundred day simple moving average of $265.84.

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

Wabtec Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be given 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 presently 16.67%.

Insider Buying and Selling at Wabtec

In other news, VP David L. Deninno sold 3,000 shares of the company’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $301.31, for a total value of $903,930.00. Following the completion of the sale, the vice president directly owned 55,128 shares in the company, valued at $16,610,617.68. This represents a 5.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Rafael Santana sold 1,163 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $261.06, for a total value of $303,612.78. Following the completion of the transaction, the chief executive officer directly owned 124,077 shares in the company, valued at approximately $32,391,541.62. This represents a 0.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 21,036 shares of company stock worth $6,113,542. Insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on WAB. Wall Street Zen downgraded Wabtec from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Stephens lifted their price objective on Wabtec from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of Wabtec in a research report on Friday, July 17th. Citigroup upped their target price on shares of Wabtec from $311.00 to $341.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Finally, Morgan Stanley raised their price target on shares of Wabtec from $318.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Wabtec has an average rating of “Moderate Buy” and a consensus target price of $313.36.

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.