J. Goldman & Co LP Purchases New Position in Wabtec $WAB

J. Goldman & Co LP acquired a new stake in Wabtec (NYSE:WAB) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 63,333 shares of the transportation company’s stock, valued at approximately $17,075,000.

Several other hedge funds also recently made changes to their positions in WAB. BlackRock Inc. acquired a new stake in shares of Wabtec in the 2nd quarter valued at about $3,741,077,000. Norges Bank acquired a new position in Wabtec during the fourth quarter worth approximately $409,039,000. Price T Rowe Associates Inc. MD increased its position in Wabtec by 20.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,965,503 shares of the transportation company’s stock worth $1,700,238,000 after buying an additional 1,344,744 shares during the period. Bank of New York Mellon Corp purchased a new stake in Wabtec in the second quarter valued at approximately $212,692,000. Finally, Deutsche Bank AG purchased a new stake in Wabtec in the second quarter valued at approximately $207,228,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on WAB. Wall Street Zen lowered shares of Wabtec from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Citigroup upped their price target 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 increased their price target 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. Susquehanna raised their price objective on shares of Wabtec from $305.00 to $340.00 and gave the stock a “positive” rating in a research report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Wabtec from $300.00 to $315.00 and gave the company a “neutral” rating in a research note on Thursday, July 23rd. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $313.36.

Insider Activity at Wabtec

In other news, insider Michael Fetsko sold 3,250 shares of the firm’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $293.22, for a total value of $952,965.00. Following the completion of the sale, the insider owned 37,380 shares in the company, valued at approximately $10,960,563.60. This trade represents a 8.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Eric Gebhardt sold 7,100 shares of Wabtec stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $299.27, for a total transaction of $2,124,817.00. Following the completion of the sale, the chief technology officer directly owned 19,153 shares in the company, valued at approximately $5,731,918.31. The trade was a 27.04% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 21,036 shares of company stock worth $6,113,542 in the last 90 days. Corporate insiders own 0.57% of the company’s stock.

Wabtec Trading Down 0.2%

Shares of WAB stock opened at $297.10 on Wednesday. The business’s 50 day moving average is $281.28 and its two-hundred day moving average is $265.84. Wabtec has a twelve month low of $184.26 and a twelve month high of $306.64. The company has a market capitalization of $50.18 billion, a P/E ratio of 39.93, a price-to-earnings-growth ratio of 2.02 and a beta of 0.93. The company has a current ratio of 1.12, a quick ratio of 0.59 and a debt-to-equity ratio of 0.44.

Wabtec (NYSE:WAB) last released its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $2.76 EPS for the quarter, topping 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 business had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.07 billion. During the same quarter in the prior year, the business earned $2.27 earnings per share. The company’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. Equities analysts forecast that Wabtec will post 10.86 EPS for the current year.

Wabtec Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be given a dividend of $0.31 per share. The ex-dividend date 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 is presently 16.67%.

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.