Wabtec $WAB Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its stake in Wabtec (NYSE:WAB) by 964.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 77,195 shares of the transportation company’s stock after acquiring an additional 69,942 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Wabtec were worth $16,696,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its holdings in Wabtec by 6.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 973 shares of the transportation company’s stock valued at $204,000 after buying an additional 59 shares during the last quarter. M&T Bank Corp increased its holdings in shares of Wabtec by 6.1% in the 2nd quarter. M&T Bank Corp now owns 10,299 shares of the transportation company’s stock valued at $2,156,000 after acquiring an additional 590 shares during the last quarter. 1832 Asset Management L.P. raised its position in shares of Wabtec by 28.0% during the 2nd quarter. 1832 Asset Management L.P. now owns 15,118 shares of the transportation company’s stock valued at $3,165,000 after acquiring an additional 3,307 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Wabtec by 60.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,423 shares of the transportation company’s stock valued at $298,000 after acquiring an additional 537 shares in the last quarter. Finally, Guggenheim Capital LLC lifted its stake in Wabtec by 7.4% during the second quarter. Guggenheim Capital LLC now owns 4,938 shares of the transportation company’s stock worth $1,034,000 after purchasing an additional 342 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors.

Wabtec Price Performance

Shares of NYSE WAB opened at $253.98 on Friday. 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 firm has a market capitalization of $43.22 billion, a PE ratio of 37.19, a P/E/G ratio of 1.92 and a beta of 0.99. Wabtec has a 1-year low of $151.81 and a 1-year high of $266.27. The business’s fifty day moving average price is $247.73 and its two-hundred day moving average price is $221.85.

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, beating the consensus estimate of $2.08 by $0.02. The company had revenue of $2.97 billion during 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 company’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.68 earnings per share. Wabtec has set its FY 2026 guidance at 10.050-10.450 EPS. On average, research analysts expect that Wabtec will post 8.54 EPS for the current year.

Wabtec announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 11th that allows the company to buyback $1.20 billion in outstanding shares. This buyback authorization allows the transportation company to buy up to 2.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are 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 dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was 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 Transactions at Wabtec

In other news, insider Nalin Jain sold 7,936 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $264.09, for a total transaction of $2,095,818.24. Following the completion of the transaction, the insider directly owned 6,364 shares in the company, valued at approximately $1,680,668.76. The trade was a 55.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO John A. Olin sold 11,000 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer directly owned 60,487 shares of the company’s stock, valued at $15,926,227.10. This trade represents a 15.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 31,512 shares of company stock worth $8,160,028 in the last quarter. 1.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of Wabtec from $224.00 to $270.00 and gave the stock an “equal weight” rating in a report on Friday, February 13th. Susquehanna set a $300.00 price target on shares of Wabtec in a research report on Thursday, February 12th. KeyCorp lifted their price target on shares of Wabtec from $240.00 to $308.00 and gave the company an “overweight” rating in a report on Thursday, February 12th. Morgan Stanley reaffirmed an “overweight” rating and set a $315.00 price objective on shares of Wabtec in a research report on Tuesday, February 17th. Finally, Citigroup increased their price objective on shares of Wabtec from $258.00 to $283.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Ten research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Wabtec currently has an average rating of “Moderate Buy” and an average price target of $272.08.

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.