Wabtec $WAB Shares Sold by Legal & General Group Plc

Legal & General Group Plc reduced its holdings in shares of Wabtec (NYSE:WAB) by 8.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 895,289 shares of the transportation company’s stock after selling 79,224 shares during the period. Legal & General Group Plc owned approximately 0.53% of Wabtec worth $241,370,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of WAB. BlackRock Inc. purchased a new position in shares of Wabtec during the second quarter worth about $3,741,077,000. Price T Rowe Associates Inc. MD raised 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 during the last quarter. State Street Corp lifted its position in Wabtec by 2.6% during the 4th quarter. State Street Corp now owns 7,658,040 shares of the transportation company’s stock worth $1,634,609,000 after acquiring an additional 197,610 shares during the period. Geode Capital Management LLC lifted its position in Wabtec by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 4,366,157 shares of the transportation company’s stock worth $928,249,000 after acquiring an additional 38,029 shares during the period. Finally, Wellington Management Group LLP grew its stake in shares of Wabtec by 3.6% in the 3rd quarter. Wellington Management Group LLP now owns 3,304,183 shares of the transportation company’s stock valued at $662,390,000 after purchasing an additional 116,329 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Wabtec

In other news, insider Sameer Gaur sold 1,082 shares of Wabtec stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $263.50, for a total value of $285,107.00. Following the completion of the transaction, the insider owned 11,985 shares in the company, valued at approximately $3,158,047.50. This trade represents a 8.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Fetsko sold 3,250 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $293.22, for a total transaction of $952,965.00. Following the sale, the insider owned 37,380 shares of the company’s stock, valued at approximately $10,960,563.60. The trade was a 8.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 21,036 shares of company stock valued at $6,113,542. Corporate insiders own 0.57% of the company’s stock.

Wabtec Trading Up 1.2%

NYSE WAB opened at $300.63 on Thursday. The company has a market cap of $50.78 billion, a P/E ratio of 40.41, a P/E/G ratio of 2.01 and a beta of 0.93. Wabtec has a 12 month low of $184.26 and a 12 month high of $306.64. 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 company has a 50-day moving average of $281.85 and a 200-day moving average of $266.27.

Wabtec (NYSE:WAB) last released its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.60 by $0.16. The company had revenue of $3.18 billion during 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 business’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.27 earnings per share. Wabtec has set its FY 2026 guidance at 10.600-10.900 EPS. As a group, equities analysts predict that Wabtec will post 10.86 earnings per share for the current year.

Wabtec Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.24 annualized dividend and a dividend yield of 0.4%. Wabtec’s dividend payout ratio (DPR) is presently 16.67%.

Wall Street Analyst Weigh In

A number of brokerages have commented on WAB. KeyCorp upped their price objective on shares of Wabtec from $308.00 to $340.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Wall Street Zen cut shares of Wabtec from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Morgan Stanley lifted their price objective on Wabtec from $318.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Wells Fargo & Company boosted their target price on Wabtec from $284.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 23rd. Finally, Stephens raised their price target on Wabtec from $320.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.