Assenagon Asset Management S.A. Increases Stake in Wabtec $WAB

Assenagon Asset Management S.A. raised its position in shares of Wabtec (NYSE:WAB) by 288.0% in the first quarter, Holdings Channel reports. The firm owned 851,733 shares of the transportation company’s stock after acquiring an additional 632,218 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Wabtec were worth $212,857,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hilltop Holdings Inc. increased its position in shares of Wabtec by 3.9% during the fourth quarter. Hilltop Holdings Inc. now owns 1,069 shares of the transportation company’s stock valued at $228,000 after acquiring an additional 40 shares in the last quarter. CI Investments Inc. increased its holdings in shares of Wabtec by 6.1% in the 3rd quarter. CI Investments Inc. now owns 865 shares of the transportation company’s stock worth $173,000 after purchasing an additional 50 shares in the last quarter. IHT Wealth Management LLC raised its stake in shares of Wabtec by 1.0% in the fourth quarter. IHT Wealth Management LLC now owns 4,856 shares of the transportation company’s stock worth $1,037,000 after purchasing an additional 50 shares during the last quarter. Carnegie Investment Counsel raised its stake in shares of Wabtec by 2.5% in the fourth quarter. Carnegie Investment Counsel now owns 2,051 shares of the transportation company’s stock worth $438,000 after purchasing an additional 51 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in shares of Wabtec by 1.3% during the third quarter. Quadrant Capital Group LLC now owns 4,082 shares of the transportation company’s stock valued at $818,000 after purchasing an additional 54 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.

Insider Buying and Selling

In other Wabtec news, CEO Rafael Santana sold 60,852 shares of the stock in a transaction that occurred on Tuesday, April 14th. The shares were 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 in the company, valued at approximately $34,613,940.81. This trade represents 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 accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sameer Gaur sold 1,082 shares of Wabtec stock in a transaction on Friday, June 12th. The stock was sold at an average price of $263.50, for a total transaction of $285,107.00. Following the transaction, the insider owned 11,985 shares in the company, valued at $3,158,047.50. This represents a 8.28% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 65,423 shares of company stock worth $17,562,278. 0.57% of the stock is currently owned by insiders.

Analysts Set New Price Targets

WAB has been the topic of several recent analyst reports. Wall Street Zen cut Wabtec from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Wells Fargo & Company upped their target price on shares of Wabtec from $270.00 to $284.00 and gave the company an “equal weight” rating in a research note on Thursday, April 23rd. Wolfe Research reaffirmed an “outperform” rating and set a $303.00 price target on shares of Wabtec in a report on Thursday, April 23rd. JPMorgan Chase & Co. dropped their price target on shares of Wabtec from $290.00 to $280.00 and set a “neutral” rating on the stock in a report on Friday, April 10th. Finally, Rothschild & Co Redburn upgraded shares of Wabtec from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $262.00 to $285.00 in a research note on Thursday, March 26th. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $289.82.

Wabtec Stock Performance

Shares of WAB opened at $272.64 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.02 and a quick ratio of 0.54. Wabtec has a one year low of $184.26 and a one year high of $278.98. The firm has a market capitalization of $46.26 billion, a P/E ratio of 38.56, a PEG ratio of 1.93 and a beta of 0.94. The business has a fifty day moving average of $264.37 and a 200 day moving average of $247.31.

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

Wabtec Announces Dividend

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

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.