Andra AP fonden Buys 82,100 Shares of Wabtec $WAB

Andra AP fonden increased its stake in Wabtec (NYSE:WAB) by 91.5% in the third quarter, HoldingsChannel reports. The fund owned 171,800 shares of the transportation company’s stock after purchasing an additional 82,100 shares during the period. Andra AP fonden’s holdings in Wabtec were worth $34,441,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Wabtec by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 19,930,893 shares of the transportation company’s stock worth $4,172,532,000 after purchasing an additional 493,437 shares during the period. Geode Capital Management LLC grew its holdings in shares of Wabtec by 0.7% in the second quarter. Geode Capital Management LLC now owns 4,288,014 shares of the transportation company’s stock worth $893,830,000 after purchasing an additional 30,489 shares during the last quarter. Boston Partners increased its stake in shares of Wabtec by 9.0% in the second quarter. Boston Partners now owns 2,261,456 shares of the transportation company’s stock worth $471,410,000 after buying an additional 186,248 shares during the period. Nordea Investment Management AB raised its holdings in Wabtec by 24.0% during the 3rd quarter. Nordea Investment Management AB now owns 1,974,257 shares of the transportation company’s stock valued at $393,252,000 after buying an additional 381,728 shares during the last quarter. Finally, Norges Bank purchased a new stake in Wabtec during the 2nd quarter valued at $347,194,000. 91.69% of the stock is currently owned by institutional investors.

Insider Activity at Wabtec

In related news, CFO John A. Olin sold 11,000 shares of Wabtec stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $263.30, for a total value of $2,896,300.00. Following the completion of the sale, the chief financial officer directly owned 60,487 shares in the company, valued at approximately $15,926,227.10. This trade represents a 15.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gregory Sbrocco sold 952 shares of the company’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $258.43, for a total transaction of $246,025.36. Following the transaction, the executive vice president owned 21,159 shares in the company, valued at $5,468,120.37. This represents a 4.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 39,061 shares of company stock valued at $9,583,454 over the last three months. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on WAB shares. JPMorgan Chase & Co. boosted their price objective on shares of Wabtec from $215.00 to $245.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Wolfe Research raised Wabtec from a “peer perform” rating to an “outperform” rating and set a $245.00 target price on the stock in a research note on Thursday, January 8th. Stephens upped their price target on Wabtec from $230.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday, February 12th. Wells Fargo & Company increased their price objective on Wabtec from $224.00 to $270.00 and gave the stock an “equal weight” rating in a report on Friday, February 13th. Finally, Bank of America lifted their price objective on Wabtec from $228.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $269.00.

Wabtec Trading Up 0.3%

Wabtec stock opened at $263.53 on Friday. Wabtec has a 12 month low of $151.81 and a 12 month high of $266.27. The company has a market capitalization of $44.94 billion, a price-to-earnings ratio of 38.58, a price-to-earnings-growth ratio of 1.98 and a beta of 1.01. The business’s fifty day simple moving average is $234.99 and its two-hundred day simple moving average is $211.71. The company has a current ratio of 1.11, a quick ratio of 0.57 and a debt-to-equity ratio of 0.38.

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

Wabtec announced that its Board of Directors has approved a share buyback plan on Wednesday, February 11th that allows the company to buyback $1.20 billion in shares. This buyback authorization allows the transportation company to purchase up to 2.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Wabtec Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Tuesday, February 17th will be issued a dividend of $0.31 per share. 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 dividend on an annualized basis and a dividend yield of 0.5%. Wabtec’s dividend payout ratio is currently 18.16%.

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.