California Public Employees Retirement System Sells 3,375 Shares of Wabtec $WAB

California Public Employees Retirement System decreased its position in Wabtec (NYSE:WAB) by 0.9% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 367,673 shares of the transportation company’s stock after selling 3,375 shares during the period. California Public Employees Retirement System’s holdings in Wabtec were worth $91,885,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of WAB. Norges Bank purchased a new position in Wabtec during the 4th quarter valued at about $409,039,000. Price T Rowe Associates Inc. MD raised its position in Wabtec by 20.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,965,503 shares of the transportation company’s stock valued at $1,700,238,000 after purchasing an additional 1,344,744 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Wabtec by 55.5% in the 4th quarter. Nordea Investment Management AB now owns 3,069,340 shares of the transportation company’s stock worth $659,939,000 after buying an additional 1,095,083 shares during the period. Bank of Montreal Can lifted its holdings in Wabtec by 360.0% in the 4th quarter. Bank of Montreal Can now owns 885,197 shares of the transportation company’s stock worth $188,945,000 after buying an additional 692,773 shares during the period. Finally, UBS Group AG grew its position in shares of Wabtec by 194.2% in the 3rd quarter. UBS Group AG now owns 1,033,304 shares of the transportation company’s stock worth $207,146,000 after buying an additional 682,048 shares during the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Wabtec

In related news, CEO Rafael Santana sold 1,163 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $261.06, for a total transaction of $303,612.78. Following the sale, the chief executive officer directly owned 124,077 shares of the company’s stock, valued at approximately $32,391,541.62. This represents a 0.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed 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 the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $263.50, for a total transaction of $285,107.00. Following the sale, the insider owned 11,985 shares of the company’s stock, valued at approximately $3,158,047.50. This represents a 8.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 5,734 shares of company stock worth $1,504,571. 0.57% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Rothschild & Co Redburn raised Wabtec from a “neutral” rating to a “buy” rating and boosted their target price for the company from $262.00 to $285.00 in a research note on Thursday, March 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Wabtec in a research report on Monday, April 20th. Stephens raised shares of Wabtec to a “strong-buy” rating in a research note on Wednesday, July 8th. Morgan Stanley restated an “overweight” rating and issued a $318.00 price objective on shares of Wabtec in a report on Monday, April 27th. Finally, Susquehanna reaffirmed a “positive” rating and set a $305.00 price objective on shares of Wabtec in a research report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $293.36.

Wabtec Trading Down 0.1%

NYSE:WAB opened at $261.85 on Monday. The firm has a market capitalization of $44.43 billion, a P/E ratio of 37.04, a PEG ratio of 1.87 and a beta of 0.94. 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 $284.91. The company’s 50-day simple moving average is $264.30 and its 200 day simple moving average is $253.08.

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

Wabtec Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be paid a $0.31 dividend. 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 payout ratio 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.