Fifth Third Bancorp Has $10.43 Million Holdings in Wabtec $WAB

Fifth Third Bancorp boosted its stake in shares of Wabtec (NYSE:WAB) by 497.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 41,734 shares of the transportation company’s stock after buying an additional 34,744 shares during the quarter. Fifth Third Bancorp’s holdings in Wabtec were worth $10,430,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Hilltop Holdings Inc. boosted its position in Wabtec by 3.9% during the fourth quarter. Hilltop Holdings Inc. now owns 1,069 shares of the transportation company’s stock valued at $228,000 after acquiring an additional 40 shares during the last quarter. Apollon Wealth Management LLC boosted its holdings in Wabtec by 1.6% in the first quarter. Apollon Wealth Management LLC now owns 3,081 shares of the transportation company’s stock worth $770,000 after acquiring an additional 48 shares in the last quarter. IHT Wealth Management LLC grew its position in Wabtec by 1.0% in the 4th quarter. IHT Wealth Management LLC now owns 4,856 shares of the transportation company’s stock valued at $1,037,000 after purchasing an additional 50 shares during the period. Carnegie Investment Counsel increased its position in shares of Wabtec by 2.5% during the fourth quarter. Carnegie Investment Counsel now owns 2,051 shares of the transportation company’s stock worth $438,000 after acquiring an additional 51 shares in the last quarter. Finally, DGS Capital Management LLC increased its holdings in Wabtec by 5.2% during the 1st quarter. DGS Capital Management LLC now owns 1,051 shares of the transportation company’s stock worth $263,000 after purchasing an additional 52 shares in the last quarter. 91.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on WAB shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Wabtec in a research note on Monday, April 20th. Stephens raised Wabtec to a “strong-buy” rating in a report on Wednesday, July 8th. Jefferies Financial Group reissued a “buy” rating and set a $290.00 target price (down from $300.00) on shares of Wabtec in a report on Tuesday, March 31st. Susquehanna reiterated a “positive” rating and set a $305.00 price target on shares of Wabtec in a research report on Thursday, April 23rd. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $318.00 price target on shares of Wabtec in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Wabtec has a consensus rating of “Moderate Buy” and an average target price of $293.36.

Insider Transactions at Wabtec

In other Wabtec news, CEO Rafael Santana sold 1,163 shares of the business’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $262.07, for a total transaction of $304,787.41. Following the transaction, the chief executive officer directly owned 122,914 shares of the company’s stock, valued at approximately $32,212,071.98. The trade was a 0.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sameer Gaur sold 1,082 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $263.50, for a total transaction of $285,107.00. Following the transaction, the insider owned 11,985 shares in the company, valued at $3,158,047.50. This represents a 8.28% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 5,734 shares of company stock valued at $1,504,571. 0.57% of the stock is currently owned by company insiders.

Wabtec Trading Up 0.6%

Shares of WAB opened at $262.32 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.54 and a current ratio of 1.02. The firm has a market cap of $44.51 billion, a price-to-earnings ratio of 37.10, a PEG ratio of 1.87 and a beta of 0.94. The firm has a 50 day moving average price of $264.63 and a 200-day moving average price of $252.17. Wabtec has a fifty-two week low of $184.26 and a fifty-two week high of $284.91.

Wabtec (NYSE:WAB) last announced its quarterly earnings data on Wednesday, April 22nd. The transportation company reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.09. Wabtec had a return on equity of 14.52% and a net margin of 10.52%.The firm had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same period last year, the firm earned $2.28 earnings per share. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. Wabtec has set its FY 2026 guidance at 10.250-10.650 EPS. As a group, equities research analysts forecast that Wabtec will post 10.61 earnings per share for the current year.

Wabtec Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Friday, May 22nd were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.24 annualized dividend and a yield of 0.5%. Wabtec’s dividend payout ratio is presently 17.54%.

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.