Mirabella Financial Services LLP Sells 2,720 Shares of Wabtec $WAB

Mirabella Financial Services LLP cut its stake in Wabtec (NYSE:WAB) by 19.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,371 shares of the transportation company’s stock after selling 2,720 shares during the period. Mirabella Financial Services LLP’s holdings in Wabtec were worth $3,066,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its position in shares of Wabtec by 20.3% in the 4th 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 acquiring an additional 1,344,744 shares in the last quarter. State Street Corp grew its stake in Wabtec by 2.6% in the fourth quarter. State Street Corp now owns 7,658,040 shares of the transportation company’s stock worth $1,634,609,000 after purchasing an additional 197,610 shares during the period. Geode Capital Management LLC grew its stake in Wabtec by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,366,157 shares of the transportation company’s stock worth $928,249,000 after purchasing an additional 38,029 shares during the period. Wellington Management Group LLP raised its holdings in Wabtec by 3.6% in the third quarter. Wellington Management Group LLP now owns 3,304,183 shares of the transportation company’s stock worth $662,390,000 after purchasing an additional 116,329 shares in the last quarter. Finally, Farallon Capital Management LLC lifted its position in Wabtec by 12.3% during the fourth quarter. Farallon Capital Management LLC now owns 2,476,003 shares of the transportation company’s stock valued at $528,503,000 after buying an additional 270,905 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Wabtec Trading Up 0.5%

Wabtec stock opened at $299.40 on Friday. Wabtec has a 12 month low of $184.26 and a 12 month high of $306.64. The company has a market capitalization of $50.57 billion, a price-to-earnings ratio of 40.24, a price-to-earnings-growth ratio of 2.02 and a beta of 0.93. The business’s fifty day simple moving average is $276.79 and its two-hundred day simple moving average is $262.52. 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 issued its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.60 by $0.16. The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.07 billion. Wabtec had a return on equity of 15.10% and a net margin of 10.59%.The company’s revenue was up 17.5% on a year-over-year basis. During the same period last year, the company 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 fiscal 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 paid a dividend of $0.31 per share. 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 currently 16.67%.

Insider Activity

In other news, VP David L. Deninno sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $301.31, for a total value of $903,930.00. Following the transaction, the vice president owned 55,128 shares in the company, valued at approximately $16,610,617.68. This represents a 5.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Sameer Gaur sold 1,082 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $263.50, for a total transaction of $285,107.00. Following the sale, the insider 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. Insiders sold a total of 16,834 shares of company stock valued at $4,874,977 over the last ninety days. 0.57% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on WAB. Wolfe Research restated an “outperform” rating and set a $303.00 target price on shares of Wabtec in a report on Thursday, April 23rd. Morgan Stanley lifted their price target on shares of Wabtec from $318.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Wells Fargo & Company boosted their price objective on shares of Wabtec from $284.00 to $315.00 and gave the stock an “equal weight” rating in a research note 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. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wabtec in a research note on Friday, July 17th. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.