NEOS Investment Management LLC Increases Position in Wabtec $WAB

NEOS Investment Management LLC grew its holdings in shares of Wabtec (NYSE:WAB) by 13.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 27,463 shares of the transportation company’s stock after buying an additional 3,303 shares during the quarter. NEOS Investment Management LLC’s holdings in Wabtec were worth $7,404,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. bought a new stake in shares of Wabtec during the 2nd quarter worth approximately $3,741,077,000. Price T Rowe Associates Inc. MD grew its position in Wabtec by 20.3% in 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 during the last quarter. State Street Corp increased its stake in Wabtec by 2.6% in the fourth quarter. State Street Corp now owns 7,658,040 shares of the transportation company’s stock worth $1,634,609,000 after purchasing an additional 197,610 shares during the period. Geode Capital Management LLC increased its stake in Wabtec by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,366,157 shares of the transportation company’s stock worth $928,249,000 after purchasing an additional 38,029 shares during the period. Finally, Wellington Management Group LLP lifted its position in shares of Wabtec by 3.6% during the third quarter. Wellington Management Group LLP now owns 3,304,183 shares of the transportation company’s stock worth $662,390,000 after purchasing an additional 116,329 shares during the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on WAB shares. Wells Fargo & Company upped their price target on shares of Wabtec from $284.00 to $315.00 and gave the stock an “equal weight” rating in a report on Thursday, July 23rd. Wall Street Zen lowered shares of Wabtec from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Citigroup boosted their price objective on shares of Wabtec from $311.00 to $341.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Morgan Stanley upped their target price on shares of Wabtec from $318.00 to $355.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Finally, JPMorgan Chase & Co. raised 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. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $313.36.

Insider Activity at Wabtec

In other Wabtec news, VP David L. Deninno sold 3,000 shares of the stock in a transaction dated 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 approximately $16,610,617.68. This trade represents a 5.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Eric Gebhardt sold 7,100 shares of the firm’s 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 completion of the sale, the chief technology officer directly owned 19,153 shares of the company’s stock, valued at approximately $5,731,918.31. This represents a 27.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 19,873 shares of company stock worth $5,809,243 over the last ninety days. Corporate insiders own 0.57% of the company’s stock.

Wabtec Trading Up 0.5%

NYSE WAB opened at $282.25 on Friday. Wabtec has a 52 week low of $184.26 and a 52 week high of $306.64. The company has a 50 day moving average price of $283.36 and a 200 day moving average price of $267.88. 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 firm has a market cap of $47.67 billion, a PE ratio of 37.94, a price-to-earnings-growth ratio of 1.92 and a beta of 0.92.

Wabtec (NYSE:WAB) last announced its 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 net margin of 10.59% and a return on equity of 15.10%. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.07 billion. During the same period last year, the firm earned $2.27 earnings per share. Wabtec’s 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, sell-side analysts forecast that Wabtec will post 10.86 EPS for the current fiscal year.

Wabtec Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th were given a $0.31 dividend. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.4%. Wabtec’s dividend payout ratio (DPR) 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.