Citigroup Inc. Reduces Position in Wabtec $WAB

Citigroup Inc. trimmed its stake in Wabtec (NYSE:WAB) by 18.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 302,387 shares of the transportation company’s stock after selling 68,174 shares during the quarter. Citigroup Inc.’s holdings in Wabtec were worth $60,620,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in WAB. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in Wabtec by 12.4% in the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,880 shares of the transportation company’s stock valued at $377,000 after purchasing an additional 207 shares during the last quarter. Jupiter Asset Management Ltd. grew its holdings in shares of Wabtec by 28.7% during the third quarter. Jupiter Asset Management Ltd. now owns 138,665 shares of the transportation company’s stock worth $27,798,000 after buying an additional 30,896 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Wabtec by 374.2% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 135,996 shares of the transportation company’s stock valued at $27,146,000 after buying an additional 107,314 shares during the last quarter. Alberta Investment Management Corp acquired a new position in shares of Wabtec in the third quarter valued at approximately $842,000. Finally, Pzena Investment Management LLC lifted its stake in shares of Wabtec by 1.9% during the third quarter. Pzena Investment Management LLC now owns 367,582 shares of the transportation company’s stock valued at $73,689,000 after buying an additional 6,886 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on WAB shares. Wells Fargo & Company boosted their price target on Wabtec from $224.00 to $270.00 and gave the company an “equal weight” rating in a report on Friday, February 13th. Wall Street Zen downgraded Wabtec from a “buy” rating to a “hold” rating in a research report on Sunday. JPMorgan Chase & Co. upped their target price on Wabtec from $215.00 to $245.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Citigroup increased their target price on Wabtec from $258.00 to $283.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Finally, KeyCorp lifted their price target on Wabtec from $240.00 to $308.00 and gave the company an “overweight” rating 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $269.00.

Wabtec Stock Performance

Shares of NYSE:WAB opened at $262.77 on Tuesday. The business has a 50-day moving average of $231.97 and a two-hundred day moving average of $210.47. The firm has a market capitalization of $44.81 billion, a PE ratio of 38.47, a P/E/G ratio of 2.00 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. Wabtec has a 12 month low of $151.81 and a 12 month high of $265.88.

Wabtec (NYSE:WAB) last released its quarterly earnings data 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. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.86 billion. Wabtec had a return on equity of 14.12% and a net margin of 10.48%.The company’s revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.68 EPS. Wabtec has set its FY 2026 guidance at 10.050-10.450 EPS. As a group, research analysts forecast that Wabtec will post 8.54 earnings per share for the current year.

Wabtec Increases Dividend

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

Wabtec announced that its Board of Directors has approved a stock repurchase plan on Wednesday, February 11th that authorizes the company to buyback $1.20 billion in outstanding shares. This buyback authorization authorizes the transportation company to purchase up to 2.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other news, insider Rogerio Mendonca sold 3,500 shares of the firm’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $264.21, for a total value of $924,735.00. Following the transaction, the insider owned 10,101 shares of the company’s stock, valued at approximately $2,668,785.21. This trade represents a 25.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael Fetsko sold 5,058 shares of the company’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $215.72, for a total transaction of $1,091,111.76. Following the sale, the insider directly owned 36,882 shares of the company’s stock, valued at approximately $7,956,185.04. This trade represents a 12.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 20,125 shares of company stock worth $4,591,336. 1.10% of the stock is owned by company 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.