Allstate Corp Acquires 6,357 Shares of Wabtec $WAB

Allstate Corp raised its holdings in Wabtec (NYSE:WAB) by 100.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,672 shares of the transportation company’s stock after acquiring an additional 6,357 shares during the period. Allstate Corp’s holdings in Wabtec were worth $2,705,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BOKF NA grew its position in Wabtec by 66.7% in the fourth quarter. BOKF NA now owns 175 shares of the transportation company’s stock valued at $37,000 after acquiring an additional 70 shares during the last quarter. FNY Investment Advisers LLC bought a new position in Wabtec in the fourth quarter valued at about $42,000. Westfuller Advisors LLC grew its holdings in shares of Wabtec by 83.2% during the fourth quarter. Westfuller Advisors LLC now owns 207 shares of the transportation company’s stock worth $44,000 after purchasing an additional 94 shares during the last quarter. Steigerwald Gordon & Koch Inc. grew its holdings in shares of Wabtec by 258.3% during the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 215 shares of the transportation company’s stock worth $46,000 after purchasing an additional 155 shares during the last quarter. Finally, Salomon & Ludwin LLC grew its holdings in shares of Wabtec by 35.6% during the fourth quarter. Salomon & Ludwin LLC now owns 217 shares of the transportation company’s stock worth $47,000 after purchasing an additional 57 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

Insider Buying and Selling

In related news, CEO Rafael Santana sold 60,852 shares of Wabtec stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $268.89, for a total value of $16,362,494.28. Following the transaction, the chief executive officer directly owned 128,729 shares of the company’s stock, valued at $34,613,940.81. The trade was a 32.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gina Trombley sold 4,013 shares of the business’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 value of $970,624.31. Following the completion of the transaction, the executive vice president directly owned 13,841 shares in the company, valued at approximately $3,347,722.67. This trade represents a 22.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 67,191 shares of company stock worth $17,922,608. 0.57% of the stock is owned by insiders.

Wabtec Price Performance

Wabtec stock opened at $261.12 on Thursday. The stock’s 50 day moving average is $258.15 and its 200 day moving average is $238.77. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.02 and a quick ratio of 0.54. The firm has a market cap of $44.31 billion, a P/E ratio of 36.93, a P/E/G ratio of 1.87 and a beta of 0.97. Wabtec has a one year low of $184.26 and a one year high of $275.84.

Wabtec (NYSE:WAB) last posted its quarterly earnings data on Wednesday, April 22nd. The transportation company reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.09. The company had revenue of $2.95 billion for the quarter, compared to analyst estimates of $3.08 billion. Wabtec had a return on equity of 14.52% and a net margin of 10.52%.The firm’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.28 earnings per share. Wabtec has set its FY 2026 guidance at 10.250-10.650 EPS. As a group, research analysts expect that Wabtec will post 10.61 EPS for the current year.

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

Wabtec Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Friday, May 22nd will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, May 22nd. Wabtec’s payout ratio is currently 17.54%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on WAB shares. Wolfe Research restated an “outperform” rating and set a $303.00 price target on shares of Wabtec in a report on Thursday, April 23rd. Wall Street Zen cut Wabtec from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Morgan Stanley restated an “overweight” rating and set a $318.00 price target on shares of Wabtec in a report on Monday, April 27th. JPMorgan Chase & Co. reduced their price target on Wabtec from $290.00 to $280.00 and set a “neutral” rating on the stock in a report on Friday, April 10th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Wabtec in a report on Monday, April 20th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $289.82.

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.