Bank of New York Mellon Corp Has $173.32 Million Stake in Wabtec $WAB

Bank of New York Mellon Corp lowered its stake in Wabtec (NYSE:WAB) by 4.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 812,013 shares of the transportation company’s stock after selling 35,391 shares during the quarter. Bank of New York Mellon Corp’s holdings in Wabtec were worth $173,324,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Varma Mutual Pension Insurance Co increased its position in shares of Wabtec by 9.1% in the third quarter. Varma Mutual Pension Insurance Co now owns 47,924 shares of the transportation company’s stock worth $9,607,000 after acquiring an additional 4,000 shares in the last quarter. SG Americas Securities LLC grew its position in Wabtec by 809.6% during the fourth quarter. SG Americas Securities LLC now owns 152,297 shares of the transportation company’s stock valued at $32,508,000 after purchasing an additional 135,553 shares in the last quarter. Alberta Investment Management Corp purchased a new position in Wabtec during the third quarter valued at approximately $842,000. 111 Capital purchased a new position in Wabtec during the third quarter valued at approximately $949,000. Finally, Nordea Investment Management AB grew its position in Wabtec by 55.5% during the fourth quarter. Nordea Investment Management AB now owns 3,069,340 shares of the transportation company’s stock valued at $659,939,000 after purchasing an additional 1,095,083 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $318.00 price objective on shares of Wabtec in a research report on Monday, April 27th. KeyCorp boosted their target price on Wabtec from $240.00 to $308.00 and gave the company an “overweight” rating in a research note on Thursday, February 12th. Susquehanna restated a “positive” rating and issued a $305.00 target price on shares of Wabtec in a research note on Thursday, April 23rd. Wall Street Zen downgraded Wabtec from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Finally, Wells Fargo & Company boosted their target price on Wabtec from $270.00 to $284.00 and gave the company an “equal weight” rating in a research note on Thursday, April 23rd. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Wabtec presently has a consensus rating of “Moderate Buy” and an average price target of $289.82.

Wabtec Trading Down 0.7%

Shares of Wabtec stock opened at $260.77 on Friday. The stock has a market capitalization of $44.25 billion, a P/E ratio of 36.88, a price-to-earnings-growth ratio of 1.88 and a beta of 0.94. The company has a quick ratio of 0.54, a current ratio of 1.02 and a debt-to-equity ratio of 0.42. The company has a 50-day simple moving average of $261.06 and a 200 day simple moving average of $241.22. Wabtec has a 12-month low of $184.26 and a 12-month high of $275.84.

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

Wabtec Dividend Announcement

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

Wabtec declared that its Board of Directors has initiated a stock repurchase 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 buy up to 2.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Wabtec

In other Wabtec news, CEO Rafael Santana sold 1,163 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $263.77, for a total transaction of $306,764.51. Following the sale, the chief executive officer owned 127,566 shares of the company’s stock, valued at $33,648,083.82. This represents a 0.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gina Trombley sold 4,013 shares of the stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $241.87, for a total transaction of $970,624.31. Following the sale, the executive vice president directly owned 13,841 shares in the company, valued at approximately $3,347,722.67. This represents a 22.48% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 67,191 shares of company stock worth $17,922,608. Insiders own 0.57% of the company’s stock.

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.