Sumitomo Mitsui Trust Group Inc. Buys 2,126 Shares of Wabtec $WAB

Sumitomo Mitsui Trust Group Inc. boosted its stake in Wabtec (NYSE:WAB) by 0.6% during the second quarter, Holdings Channel reports. The institutional investor owned 377,797 shares of the transportation company’s stock after buying an additional 2,126 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Wabtec were worth $101,854,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of WAB. Whipplewood Advisors LLC acquired a new stake in Wabtec during the first quarter worth approximately $25,000. Clal Insurance Enterprises Holdings Ltd grew its position 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 last quarter. Manchester Capital Management LLC grew its position in shares of Wabtec by 122.0% in the fourth 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 during the last quarter. McMillan Office Inc. bought a new position in shares of Wabtec during the fourth quarter worth approximately $31,000. Finally, Reflection Asset Management bought a new position in shares of Wabtec during the fourth quarter worth approximately $35,000. 91.69% of the stock is owned by institutional investors.

Wabtec Trading Up 0.8%

Shares of WAB stock opened at $297.93 on Friday. The stock has a market cap of $50.32 billion, a P/E ratio of 40.04, a price-to-earnings-growth ratio of 2.00 and a beta of 0.93. Wabtec has a 1 year low of $184.26 and a 1 year high of $306.64. The company has a current ratio of 1.12, a quick ratio of 0.59 and a debt-to-equity ratio of 0.44. The stock has a 50 day simple moving average of $276.02 and a 200 day simple moving average of $262.26.

Wabtec (NYSE:WAB) last posted its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $2.76 EPS for the quarter, topping analysts’ consensus estimates of $2.60 by $0.16. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates 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 quarter last year, the company earned $2.27 EPS. Wabtec has set its FY 2026 guidance at 10.600-10.900 EPS. On average, research analysts predict that Wabtec will post 10.86 earnings per share for the current fiscal year.

Wabtec Announces Dividend

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

Analysts Set New Price Targets

WAB has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on Wabtec from $300.00 to $315.00 and gave the company a “neutral” rating in a research note on Thursday, July 23rd. Morgan Stanley increased their price objective on Wabtec from $318.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Stephens lifted their target price on Wabtec from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Wells Fargo & Company boosted their target price on shares of Wabtec from $284.00 to $315.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Wabtec in a research note on Friday, July 17th. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $313.36.

Insider Buying and Selling

In related news, insider Sameer Gaur sold 1,082 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $263.50, for a total value of $285,107.00. Following the completion of the transaction, the insider owned 11,985 shares of the company’s stock, valued at $3,158,047.50. The trade was a 8.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP David L. Deninno sold 3,000 shares of the company’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $301.31, for a total transaction of $903,930.00. Following the sale, the vice president directly owned 55,128 shares of the company’s stock, valued at $16,610,617.68. This represents a 5.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 16,834 shares of company stock worth $4,874,977 over the last three months. Company insiders own 0.57% of the company’s stock.

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.