Wabtec $WAB Shares Sold by Covea Finance

Covea Finance lessened its position in Wabtec (NYSE:WAB) by 28.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 72,246 shares of the transportation company’s stock after selling 29,000 shares during the period. Covea Finance’s holdings in Wabtec were worth $15,421,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Colonial Trust Advisors grew its holdings in Wabtec by 454.5% during the second quarter. Colonial Trust Advisors now owns 122 shares of the transportation company’s stock worth $26,000 after acquiring an additional 100 shares during the period. Piscataqua Savings Bank lifted its holdings in Wabtec by 12,800.0% in the 3rd quarter. Piscataqua Savings Bank now owns 129 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 128 shares during the last quarter. Motco boosted its position in shares of Wabtec by 6,600.0% during the 3rd quarter. Motco now owns 134 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 132 shares in the last quarter. Salomon & Ludwin LLC boosted its position in shares of Wabtec by 370.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 160 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 126 shares in the last quarter. Finally, North Capital Inc. grew its stake in shares of Wabtec by 18,900.0% in the 3rd quarter. North Capital Inc. now owns 190 shares of the transportation company’s stock worth $38,000 after purchasing an additional 189 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Insiders Place Their Bets

In other news, insider Sameer Gaur sold 1,150 shares of the firm’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $262.62, for a total value of $302,013.00. Following the sale, the insider owned 12,017 shares in the company, valued at approximately $3,155,904.54. This trade represents a 8.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Nalin Jain sold 7,936 shares of Wabtec stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $264.09, for a total value of $2,095,818.24. Following the sale, the insider directly owned 6,364 shares in the company, valued at $1,680,668.76. The trade was a 55.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 31,512 shares of company stock worth $8,160,028 in the last quarter. Corporate insiders own 1.10% of the company’s stock.

Wabtec Trading Down 0.6%

NYSE:WAB opened at $235.68 on Friday. The stock has a market cap of $40.19 billion, a PE ratio of 34.51, a price-to-earnings-growth ratio of 1.79 and a beta of 0.99. Wabtec has a fifty-two week low of $151.81 and a fifty-two week high of $266.27. 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 stock’s 50-day moving average is $244.09 and its two-hundred day moving average is $217.69.

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

Wabtec declared that its board 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 repurchase up to 2.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Wabtec Increases Dividend

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

Analysts Set New Price Targets

WAB has been the subject of several recent research reports. KeyCorp increased their target price on shares of Wabtec from $240.00 to $308.00 and gave the company an “overweight” rating in a research note on Thursday, February 12th. Wells Fargo & Company lifted their price target on shares of Wabtec from $224.00 to $270.00 and gave the stock an “equal weight” rating in a research report on Friday, February 13th. Wall Street Zen cut Wabtec from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Stephens increased their price objective on Wabtec from $230.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday, February 12th. Finally, Susquehanna set a $300.00 price objective on Wabtec in a research note on Thursday, February 12th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.