Bank of New York Mellon Corp Sells 18,031 Shares of Wabtec $WAB

Bank of New York Mellon Corp cut its stake in shares of Wabtec (NYSE:WAB) by 2.2% during the first quarter, HoldingsChannel reports. The firm owned 793,982 shares of the transportation company’s stock after selling 18,031 shares during the quarter. Bank of New York Mellon Corp’s holdings in Wabtec were worth $198,424,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Whipplewood Advisors LLC purchased a new position in shares of Wabtec in the 1st quarter worth approximately $25,000. Clal Insurance Enterprises Holdings Ltd raised its holdings in Wabtec by 125.9% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 131 shares of the transportation company’s stock valued at $28,000 after buying an additional 73 shares during the period. Manchester Capital Management LLC raised its holdings in Wabtec by 122.0% during the 4th quarter. Manchester Capital Management LLC now owns 131 shares of the transportation company’s stock valued at $28,000 after buying an additional 72 shares during the period. McMillan Office Inc. bought a new stake in Wabtec in the fourth quarter worth $31,000. Finally, Reflection Asset Management bought a new stake in Wabtec in the fourth quarter worth $35,000. 91.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on WAB. Citigroup cut their price objective on shares of Wabtec from $313.00 to $311.00 and set a “buy” rating on the stock in a research report on Monday, July 13th. Stephens upgraded shares of Wabtec to a “strong-buy” rating in a report on Wednesday, July 8th. Jefferies Financial Group reaffirmed a “buy” rating and set a $290.00 price target (down from $300.00) on shares of Wabtec in a research note on Tuesday, March 31st. Susquehanna reaffirmed a “positive” rating and set a $305.00 price target on shares of Wabtec in a research note on Thursday, April 23rd. Finally, Morgan Stanley reiterated an “overweight” rating and set a $318.00 price target on shares of Wabtec in a report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $293.36.

Insider Transactions at Wabtec

In other news, insider Sameer Gaur sold 1,082 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $263.50, for a total transaction of $285,107.00. Following the transaction, the insider directly owned 11,985 shares of the company’s stock, valued at approximately $3,158,047.50. This trade represents a 8.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Rafael Santana sold 1,163 shares of Wabtec stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $262.07, for a total transaction of $304,787.41. Following the sale, the chief executive officer directly owned 122,914 shares of the company’s stock, valued at $32,212,071.98. This represents a 0.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 5,734 shares of company stock valued at $1,504,571 in the last quarter. 0.57% of the stock is currently owned by company insiders.

Wabtec Stock Performance

WAB stock opened at $261.85 on Friday. 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 business’s fifty day simple moving average is $264.30 and its two-hundred day simple moving average is $252.83. Wabtec has a twelve month low of $184.26 and a twelve month high of $284.91. The firm has a market cap of $44.43 billion, a price-to-earnings ratio of 37.04, a PEG ratio of 1.87 and a beta of 0.94.

Wabtec (NYSE:WAB) last released its earnings results on Wednesday, April 22nd. The transportation company reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.09. The business had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $3.08 billion. Wabtec had a return on equity of 14.52% and a net margin of 10.52%.The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period last year, the company earned $2.28 earnings per share. Wabtec has set its FY 2026 guidance at 10.250-10.650 EPS. Analysts predict that Wabtec will post 10.64 earnings per share for the current year.

Wabtec Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be issued a dividend of $0.31 per share. The ex-dividend date is Tuesday, August 18th. This represents a $1.24 dividend on an annualized basis and a yield of 0.5%. Wabtec’s dividend payout ratio (DPR) is presently 17.54%.

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.