Skandinaviska Enskilda Banken AB publ Cuts Position in Wabtec $WAB

Skandinaviska Enskilda Banken AB publ trimmed its position in shares of Wabtec (NYSE:WAB) by 4.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,193 shares of the transportation company’s stock after selling 2,285 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Wabtec were worth $8,859,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Empowered Funds LLC grew its stake in Wabtec by 240.8% in the 2nd quarter. Empowered Funds LLC now owns 15,924 shares of the transportation company’s stock worth $3,334,000 after acquiring an additional 11,252 shares in the last quarter. Varenne Capital Partners raised its stake in Wabtec by 39.5% in the second quarter. Varenne Capital Partners now owns 277,078 shares of the transportation company’s stock worth $58,006,000 after buying an additional 78,394 shares in the last quarter. Quantbot Technologies LP bought a new stake in Wabtec during the 2nd quarter valued at $9,371,000. Varma Mutual Pension Insurance Co grew its stake in Wabtec by 9.1% in the third quarter. Varma Mutual Pension Insurance Co now owns 47,924 shares of the transportation company’s stock valued at $9,607,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Mediolanum International Funds Ltd bought a new stake in shares of Wabtec in the 2nd quarter valued at about $8,201,000. 91.69% of the stock is currently owned by institutional investors.

Wabtec Stock Performance

Shares of WAB stock opened at $259.30 on Thursday. The firm has a market capitalization of $44.22 billion, a price-to-earnings ratio of 37.97, a price-to-earnings-growth ratio of 1.97 and a beta of 1.01. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.11 and a quick ratio of 0.57. The business has a fifty day moving average of $229.14 and a 200 day moving average of $208.74. Wabtec has a 1 year low of $151.81 and a 1 year high of $263.66.

Wabtec (NYSE:WAB) last posted its quarterly earnings results on Wednesday, February 11th. The transportation company reported $2.10 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.02. Wabtec had a return on equity of 14.12% and a net margin of 10.48%.The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.86 billion. During the same quarter in the previous year, the business earned $1.68 EPS. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. Wabtec has set its FY 2026 guidance at 10.050-10.450 EPS. As a group, research analysts expect that Wabtec will post 8.54 earnings per share for the current year.

Wabtec declared that its board has authorized a stock repurchase plan on Wednesday, February 11th that permits the company to buyback $1.20 billion in shares. This buyback authorization permits the transportation company to repurchase up to 2.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Wabtec Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 17th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 0.5%. The ex-dividend date is Tuesday, February 17th. This is a positive change from Wabtec’s previous quarterly dividend of $0.25. Wabtec’s dividend payout ratio (DPR) is presently 18.16%.

Insider Buying and Selling at Wabtec

In other news, CEO Rafael Santana sold 1,798 shares of the business’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $245.71, for a total value of $441,786.58. Following the completion of the transaction, the chief executive officer owned 118,749 shares of the company’s stock, valued at $29,177,816.79. The trade was a 1.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP David L. Deninno sold 5,000 shares of the firm’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $214.62, for a total value of $1,073,100.00. Following the sale, the vice president directly owned 50,450 shares in the company, valued at approximately $10,827,579. This trade represents a 9.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 15,673 shares of company stock worth $3,420,576. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on WAB shares. KeyCorp boosted their price objective on shares of Wabtec from $240.00 to $308.00 and gave the stock an “overweight” rating in a research note on Thursday, February 12th. Wall Street Zen upgraded Wabtec from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. Citigroup raised their price objective on Wabtec from $258.00 to $283.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Wells Fargo & Company upped their target price on Wabtec from $224.00 to $270.00 and gave the company an “equal weight” rating in a research report on Friday, February 13th. Finally, Susquehanna set a $300.00 price target on Wabtec in a report on Thursday, February 12th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $269.00.

Wabtec 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.