Wabtec $WAB Stake Trimmed by Legal & General Group Plc

Legal & General Group Plc lessened its position in Wabtec (NYSE:WAB) by 8.1% in the 2nd quarter, Holdings Channel reports. The fund owned 895,289 shares of the transportation company’s stock after selling 79,224 shares during the period. Legal & General Group Plc’s holdings in Wabtec were worth $241,370,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Wabtec in the second quarter valued at $3,741,077,000. Norges Bank acquired a new stake in Wabtec during the 4th quarter worth about $409,039,000. Price T Rowe Associates Inc. MD grew its stake 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 acquiring an additional 1,344,744 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Wabtec in the second quarter worth approximately $212,692,000. Finally, Deutsche Bank AG acquired a new stake in shares of Wabtec during the second quarter worth approximately $207,228,000. 91.69% of the stock is owned by institutional investors and hedge funds.

Wabtec Stock Up 1.2%

WAB opened at $300.63 on Thursday. The firm has a market cap of $50.78 billion, a P/E ratio of 40.41, a price-to-earnings-growth ratio of 2.01 and a beta of 0.93. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.59 and a current ratio of 1.12. The business has a 50 day moving average price of $281.85 and a 200 day moving average price of $266.27. Wabtec has a twelve month low of $184.26 and a twelve month high of $306.64.

Wabtec (NYSE:WAB) last released its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $2.76 EPS for the quarter, beating analysts’ consensus estimates 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 last year, the firm posted $2.27 earnings per share. Wabtec has set its FY 2026 guidance at 10.600-10.900 EPS. Research 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 $0.31 dividend. 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 dividend payout ratio (DPR) is 16.67%.

Insider Transactions at Wabtec

In related news, CEO Rafael Santana sold 1,163 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $299.04, for a total transaction of $347,783.52. Following the transaction, the chief executive officer owned 120,588 shares of the company’s stock, valued at approximately $36,060,635.52. The trade was a 0.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sameer Gaur sold 1,000 shares of the company’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $300.64, for a total transaction of $300,640.00. Following the transaction, the insider owned 10,985 shares of the company’s stock, valued at approximately $3,302,530.40. The trade was a 8.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 21,036 shares of company stock worth $6,113,542. Insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on WAB shares. Citigroup increased their target price on shares of Wabtec from $311.00 to $341.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Wells Fargo & Company lifted their price objective on Wabtec from $284.00 to $315.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. JPMorgan Chase & Co. upped their target price on Wabtec from $300.00 to $315.00 and gave the stock a “neutral” rating in a research report on Thursday, July 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Wabtec in a report on Friday, July 17th. Finally, Stephens raised their price objective on shares of Wabtec from $320.00 to $330.00 and gave the company an “overweight” 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $313.36.

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.