California Public Employees Retirement System Has $74.27 Million Position in Wabtec $WAB

California Public Employees Retirement System grew its stake in Wabtec (NYSE:WAB) by 3.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 370,501 shares of the transportation company’s stock after purchasing an additional 10,702 shares during the quarter. California Public Employees Retirement System owned approximately 0.22% of Wabtec worth $74,274,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Bank of Nova Scotia boosted its holdings in shares of Wabtec by 17.7% during the 3rd quarter. Bank of Nova Scotia now owns 21,061 shares of the transportation company’s stock worth $4,222,000 after buying an additional 3,171 shares during the period. Aquatic Capital Management LLC grew its stake in Wabtec by 19.6% in the 3rd quarter. Aquatic Capital Management LLC now owns 28,781 shares of the transportation company’s stock valued at $5,770,000 after buying an additional 4,711 shares during the last quarter. Creative Planning lifted its position in Wabtec by 13.3% during the third quarter. Creative Planning now owns 26,854 shares of the transportation company’s stock worth $5,383,000 after acquiring an additional 3,145 shares during the last quarter. SummitTX Capital L.P. acquired a new stake in Wabtec during the third quarter worth approximately $5,804,000. Finally, AQR Capital Management LLC boosted its holdings in shares of Wabtec by 76.3% during the third quarter. AQR Capital Management LLC now owns 1,229,270 shares of the transportation company’s stock worth $245,534,000 after acquiring an additional 532,121 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

Insider Buying and Selling

In related news, EVP Gina Trombley sold 4,013 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $241.87, for a total transaction of $970,624.31. Following the completion of the transaction, the executive vice president directly owned 13,841 shares in the company, valued at $3,347,722.67. This represents a 22.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sameer Gaur sold 1,150 shares of the stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $262.62, for a total transaction of $302,013.00. Following the completion of the transaction, the insider directly owned 12,017 shares of the company’s stock, valued at approximately $3,155,904.54. The trade was a 8.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 33,310 shares of company stock worth $8,541,509 in the last quarter. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on WAB. Wall Street Zen downgraded Wabtec from a “buy” rating to a “hold” rating in a research report on Saturday. KeyCorp boosted their price target on Wabtec from $240.00 to $308.00 and gave the company an “overweight” rating in a research note on Thursday, February 12th. Wolfe Research raised Wabtec from a “peer perform” rating to an “outperform” rating and set a $245.00 price objective on the stock in a report on Thursday, January 8th. Citigroup increased 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. Finally, Morgan Stanley reissued an “overweight” rating and set a $315.00 target price on shares of Wabtec in a report on Tuesday, February 17th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $269.00.

Wabtec Trading Up 1.1%

Shares of WAB opened at $239.32 on Tuesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.57 and a current ratio of 1.11. Wabtec has a 52-week low of $151.81 and a 52-week high of $266.27. The firm has a market cap of $40.81 billion, a price-to-earnings ratio of 35.04, a PEG ratio of 1.79 and a beta of 0.99. The business’s fifty day moving average is $242.81 and its 200-day moving average is $216.80.

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

Wabtec declared that its Board of Directors has initiated a stock repurchase program on Wednesday, February 11th that authorizes the company to buyback $1.20 billion in shares. This buyback authorization authorizes the transportation company to purchase up to 2.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Wabtec Increases Dividend

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

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.