Cornerstone Advisors LLC Buys New Position in Wabtec $WAB

Cornerstone Advisors LLC purchased a new position in shares of Wabtec (NYSE:WAB) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 24,833 shares of the transportation company’s stock, valued at approximately $6,695,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WAB. Whipplewood Advisors LLC purchased a new stake in shares of Wabtec during the first quarter valued at approximately $25,000. Clal Insurance Enterprises Holdings Ltd boosted its stake in shares of Wabtec by 125.9% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 131 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 73 shares during the period. Manchester Capital Management LLC grew its holdings in Wabtec by 122.0% during the 4th quarter. Manchester Capital Management LLC now owns 131 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 72 shares in the last quarter. Bell Investment Advisors Inc acquired a new stake in Wabtec during the 2nd quarter valued at $29,000. Finally, McMillan Office Inc. purchased a new stake in Wabtec during the 4th quarter worth $31,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Wabtec Trading Up 0.7%

NYSE WAB opened at $301.19 on Tuesday. The company has a market capitalization of $50.87 billion, a price-to-earnings ratio of 40.48, a price-to-earnings-growth ratio of 2.03 and a beta of 0.93. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.12 and a quick ratio of 0.59. Wabtec has a 12 month low of $184.26 and a 12 month high of $306.64. The company’s fifty day moving average price is $277.63 and its two-hundred day moving average price is $263.23.

Wabtec (NYSE:WAB) last released its earnings results 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 company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.07 billion. Wabtec had a net margin of 10.59% and a return on equity of 15.10%. The company’s revenue was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.27 EPS. Wabtec has set its FY 2026 guidance at 10.600-10.900 EPS. As a group, research analysts predict that Wabtec will post 10.86 earnings per share for the current fiscal year.

Wabtec Dividend Announcement

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

Insider Transactions at Wabtec

In other Wabtec news, insider Sameer Gaur sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $300.64, for a total transaction of $300,640.00. Following the sale, the insider owned 10,985 shares in the company, valued at $3,302,530.40. This represents a 8.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Rafael Santana sold 1,163 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $299.04, for a total value of $347,783.52. Following the transaction, the chief executive officer directly owned 120,588 shares in the company, valued at approximately $36,060,635.52. This represents a 0.96% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 16,834 shares of company stock valued at $4,874,977 in the last three months. Corporate insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WAB. KeyCorp upped their price objective on shares of Wabtec from $308.00 to $340.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Wall Street Zen lowered Wabtec from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Wolfe Research reiterated an “outperform” rating and issued a $303.00 price target on shares of Wabtec in a research note on Thursday, April 23rd. Wells Fargo & Company increased their price target on Wabtec from $284.00 to $315.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. raised their price objective on Wabtec from $300.00 to $315.00 and gave the company a “neutral” rating in a research note on Thursday, July 23rd. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Wabtec presently has a consensus rating of “Moderate Buy” and an average 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.