Panagora Asset Management Inc. Has $24.69 Million Holdings in Wabtec $WAB

Panagora Asset Management Inc. cut its holdings in shares of Wabtec (NYSE:WAB) by 63.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 115,691 shares of the transportation company’s stock after selling 199,094 shares during the quarter. Panagora Asset Management Inc.’s holdings in Wabtec were worth $24,694,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of WAB. Clal Insurance Enterprises Holdings Ltd lifted its holdings in shares of Wabtec by 125.9% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 131 shares of the transportation company’s stock worth $28,000 after buying an additional 73 shares during the last quarter. Manchester Capital Management LLC lifted its holdings in shares of Wabtec by 122.0% during the fourth quarter. Manchester Capital Management LLC now owns 131 shares of the transportation company’s stock worth $28,000 after buying an additional 72 shares during the last quarter. McMillan Office Inc. acquired a new position in shares of Wabtec during the fourth quarter worth approximately $31,000. BOKF NA lifted its holdings in shares of Wabtec by 66.7% during the fourth quarter. BOKF NA now owns 175 shares of the transportation company’s stock worth $37,000 after buying an additional 70 shares during the last quarter. Finally, FNY Investment Advisers LLC acquired a new position in shares of Wabtec during the fourth quarter worth approximately $42,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Rafael Santana sold 1,163 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $261.06, for a total transaction of $303,612.78. Following the sale, the chief executive officer directly owned 124,077 shares in the company, valued at approximately $32,391,541.62. The trade was a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 64,341 shares of company stock worth $17,277,171 in the last quarter. Insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

WAB has been the subject of a number of research analyst reports. Susquehanna reiterated a “positive” rating and set a $305.00 price target on shares of Wabtec in a report on Thursday, April 23rd. Citigroup upped their price target on Wabtec from $283.00 to $292.00 and gave the stock a “buy” rating in a report on Thursday, April 9th. JPMorgan Chase & Co. cut their price target on Wabtec from $290.00 to $280.00 and set a “neutral” rating for the company in a report on Friday, April 10th. Wolfe Research reiterated an “outperform” rating and set a $303.00 price target on shares of Wabtec in a report on Thursday, April 23rd. Finally, Rothschild & Co Redburn upgraded Wabtec from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $262.00 to $285.00 in a research report on Thursday, March 26th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Wabtec has a consensus rating of “Moderate Buy” and a consensus target price of $289.82.

Wabtec Stock Performance

WAB opened at $268.92 on Tuesday. The stock has a market cap of $45.63 billion, a PE ratio of 38.04, a P/E/G ratio of 1.90 and a beta of 0.94. The company has a current ratio of 1.02, a quick ratio of 0.54 and a debt-to-equity ratio of 0.42. Wabtec has a 1 year low of $184.26 and a 1 year high of $275.84. The stock’s 50 day simple moving average is $262.92 and its 200-day simple moving average is $244.18.

Wabtec (NYSE:WAB) last released 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. The business had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Wabtec had a return on equity of 14.52% and a net margin of 10.52%.Wabtec’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.28 earnings per share. Wabtec has set its FY 2026 guidance at 10.250-10.650 EPS. Sell-side analysts forecast that Wabtec will post 10.61 EPS for the current year.

Wabtec Dividend Announcement

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