AIA Group Ltd Sells 9,666 Shares of Wabtec $WAB

AIA Group Ltd decreased its holdings in Wabtec (NYSE:WAB) by 51.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,279 shares of the transportation company’s stock after selling 9,666 shares during the quarter. AIA Group Ltd’s holdings in Wabtec were worth $2,319,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its position in Wabtec by 20.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,965,503 shares of the transportation company’s stock worth $1,700,238,000 after acquiring an additional 1,344,744 shares during the period. State Street Corp lifted its position in Wabtec by 2.6% during the fourth quarter. State Street Corp now owns 7,658,040 shares of the transportation company’s stock valued at $1,634,609,000 after purchasing an additional 197,610 shares in the last quarter. Geode Capital Management LLC grew its holdings in Wabtec by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 4,366,157 shares of the transportation company’s stock valued at $928,249,000 after purchasing an additional 38,029 shares during the period. Wellington Management Group LLP increased its position in Wabtec by 3.6% in the third quarter. Wellington Management Group LLP now owns 3,304,183 shares of the transportation company’s stock worth $662,390,000 after buying an additional 116,329 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in Wabtec by 55.5% in the fourth 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 in the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on WAB shares. Susquehanna reaffirmed a “positive” rating and set a $305.00 price objective on shares of Wabtec in a research report on Thursday, April 23rd. Citigroup decreased their target price on shares of Wabtec from $313.00 to $311.00 and set a “buy” rating on the stock in a research note on Monday, July 13th. Wells Fargo & Company lifted their price target on shares of Wabtec from $270.00 to $284.00 and gave the company an “equal weight” rating in a report on Thursday, April 23rd. Stephens raised shares of Wabtec to a “strong-buy” rating in a research note on Wednesday, July 8th. Finally, Morgan Stanley restated an “overweight” rating and set a $318.00 price objective on shares of Wabtec in a research 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 given a Hold rating to the company. According to data from MarketBeat, Wabtec currently has a consensus rating of “Moderate Buy” and an average price target of $293.36.

Insider Activity

In related news, insider Sameer Gaur sold 1,082 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $263.50, for a total value of $285,107.00. Following the sale, the insider directly owned 11,985 shares in the company, valued at approximately $3,158,047.50. The trade was a 8.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Rafael Santana sold 1,163 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $261.06, for a total value of $303,612.78. Following the transaction, the chief executive officer directly owned 124,077 shares of the company’s stock, valued at approximately $32,391,541.62. The trade was a 0.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 three months. Insiders own 0.57% of the company’s stock.

Wabtec Trading Down 0.1%

Shares of WAB opened at $261.85 on Monday. The firm has a market cap of $44.43 billion, a P/E ratio of 37.04, a price-to-earnings-growth 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 1 year low of $184.26 and a 1 year high of $284.91. The company has a 50 day simple moving average of $264.30 and a two-hundred day simple moving average of $253.08.

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

Wabtec Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders 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 annualized dividend 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.