Sumitomo Mitsui Trust Group Inc. Sells 21,443 Shares of Wabtec $WAB

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of Wabtec (NYSE:WAB) by 5.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 375,671 shares of the transportation company’s stock after selling 21,443 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Wabtec were worth $93,884,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Clal Insurance Enterprises Holdings Ltd raised its holdings in Wabtec by 125.9% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 131 shares of the transportation company’s stock worth $28,000 after purchasing an additional 73 shares during the period. Manchester Capital Management LLC grew its holdings in Wabtec by 122.0% during 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 period. McMillan Office Inc. bought a new stake in Wabtec during the fourth quarter valued at about $31,000. Reflection Asset Management purchased a new stake in Wabtec in the fourth quarter worth about $35,000. Finally, BOKF NA increased its position in Wabtec by 66.7% in the fourth quarter. BOKF NA now owns 175 shares of the transportation company’s stock worth $37,000 after buying an additional 70 shares in the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. JPMorgan Chase & Co. decreased their price objective on Wabtec from $290.00 to $280.00 and set a “neutral” rating on the stock in a research note on Friday, April 10th. Wolfe Research reissued an “outperform” rating and issued a $303.00 target price on shares of Wabtec in a report on Thursday, April 23rd. Wall Street Zen cut shares of Wabtec from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Morgan Stanley reaffirmed an “overweight” rating and set a $318.00 price target on shares of Wabtec in a report on Monday, April 27th. Finally, Rothschild & Co Redburn upgraded shares of Wabtec from a “neutral” rating to a “buy” rating and upped their price target for the stock from $262.00 to $285.00 in a research report on Thursday, March 26th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Wabtec currently has a consensus rating of “Moderate Buy” and a consensus price target of $289.82.

Wabtec Price Performance

WAB stock traded up $1.73 during trading on Friday, reaching $261.50. The company’s stock had a trading volume of 553,958 shares, compared to its average volume of 776,780. The company has a quick ratio of 0.54, a current ratio of 1.02 and a debt-to-equity ratio of 0.42. The company’s fifty day moving average is $264.85 and its 200-day moving average is $251.37. The company has a market capitalization of $44.37 billion, a P/E ratio of 36.99, a price-to-earnings-growth ratio of 1.86 and a beta of 0.94. Wabtec has a 1 year low of $184.26 and a 1 year high of $284.91.

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

Wabtec Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Friday, May 22nd were issued a $0.31 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.24 dividend on an annualized basis and a yield of 0.5%. Wabtec’s payout ratio is currently 17.54%.

Insider Buying and Selling

In other Wabtec news, insider Sameer Gaur sold 1,082 shares of the company’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 value of $285,107.00. Following the completion of the transaction, the insider directly owned 11,985 shares in the company, valued at $3,158,047.50. This represents a 8.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Rafael Santana sold 60,852 shares of the stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $268.89, for a total transaction of $16,362,494.28. Following the sale, the chief executive officer directly owned 128,729 shares of the company’s stock, valued at approximately $34,613,940.81. This trade represents a 32.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 66,586 shares of company stock worth $17,867,065. 0.57% of the stock is owned by insiders.

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.