Korea Investment CORP Buys 8,582 Shares of Wabtec $WAB

Korea Investment CORP grew its stake in shares of Wabtec (NYSE:WAB) by 13.3% in the second quarter, HoldingsChannel.com reports. The firm owned 72,906 shares of the transportation company’s stock after buying an additional 8,582 shares during the quarter. Korea Investment CORP’s holdings in Wabtec were worth $19,655,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in WAB. Nomura Asset Management Co. Ltd. raised its stake in shares of Wabtec by 5.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 85,485 shares of the transportation company’s stock valued at $18,247,000 after acquiring an additional 4,266 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Wabtec by 24,274.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 323,936 shares of the transportation company’s stock worth $69,144,000 after acquiring an additional 322,607 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Wabtec by 16.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 925,021 shares of the transportation company’s stock worth $197,446,000 after purchasing an additional 132,091 shares in the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Wabtec in the 4th quarter worth about $2,134,000. Finally, Pinnbrook Capital Management LP purchased a new position in shares of Wabtec during the fourth quarter valued at approximately $7,743,000. Institutional investors own 91.69% of the company’s stock.

Wabtec Price Performance

NYSE WAB opened at $298.10 on Monday. The business’s fifty day moving average price is $280.20 and its 200-day moving average price is $265.02. The stock has a market capitalization of $50.35 billion, a price-to-earnings ratio of 40.07, a PEG ratio of 2.02 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 1-year low of $184.26 and a 1-year high of $306.64.

Wabtec (NYSE:WAB) last released its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $2.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.60 by $0.16. Wabtec had a return on equity of 15.10% and a net margin of 10.59%.The firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.07 billion. During the same period last year, the business posted $2.27 EPS. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. Wabtec has set its FY 2026 guidance at 10.600-10.900 EPS. On average, equities analysts predict that Wabtec will post 10.86 earnings per share for the current year.

Wabtec Dividend Announcement

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

Insiders Place Their Bets

In other news, insider Michael Fetsko sold 3,250 shares of the stock in a transaction that occurred 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 transaction, the insider owned 37,380 shares in the company, valued at $10,960,563.60. This represents a 8.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sameer Gaur sold 1,082 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $263.50, for a total transaction of $285,107.00. Following the completion of the transaction, the insider directly owned 11,985 shares in the company, valued at approximately $3,158,047.50. The trade was a 8.28% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 21,036 shares of company stock valued at $6,113,542. 0.57% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

WAB has been the subject of several recent analyst reports. KeyCorp lifted their price target on Wabtec from $308.00 to $340.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Stephens lifted their price objective on Wabtec from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Citigroup boosted their target price on Wabtec from $311.00 to $341.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. JPMorgan Chase & Co. upped their target price 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. Finally, Susquehanna raised their price target on shares of Wabtec from $305.00 to $340.00 and gave the company a “positive” rating in a report on Thursday, July 23rd. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Wabtec currently has a consensus rating of “Moderate Buy” and a consensus target price of $313.36.

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.