JPMorgan Chase & Co. Has $191.83 Million Stock Position in Wabtec $WAB

JPMorgan Chase & Co. cut its holdings in Wabtec (NYSE:WAB) by 37.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 956,915 shares of the transportation company’s stock after selling 570,487 shares during the period. JPMorgan Chase & Co.’s holdings in Wabtec were worth $191,834,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Colonial Trust Advisors grew its position in Wabtec by 454.5% in the second quarter. Colonial Trust Advisors now owns 122 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 100 shares in the last quarter. Piscataqua Savings Bank lifted its position in Wabtec by 12,800.0% during the 3rd quarter. Piscataqua Savings Bank now owns 129 shares of the transportation company’s stock worth $26,000 after buying an additional 128 shares in the last quarter. Motco lifted its position in Wabtec by 6,600.0% during the 3rd quarter. Motco now owns 134 shares of the transportation company’s stock worth $27,000 after buying an additional 132 shares in the last quarter. Salomon & Ludwin LLC boosted its stake in shares of Wabtec by 370.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 160 shares of the transportation company’s stock worth $32,000 after buying an additional 126 shares during the last quarter. Finally, North Capital Inc. grew its holdings in shares of Wabtec by 18,900.0% in the 3rd quarter. North Capital Inc. now owns 190 shares of the transportation company’s stock valued at $38,000 after acquiring an additional 189 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.

Insider Activity

In other Wabtec news, insider Nalin Jain sold 7,936 shares of the company’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $264.09, for a total value of $2,095,818.24. Following the transaction, the insider directly owned 6,364 shares in the company, valued at $1,680,668.76. The trade was a 55.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Rogerio Mendonca sold 3,500 shares of the stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $264.21, for a total transaction of $924,735.00. Following the completion of the transaction, the insider directly owned 10,101 shares in the company, valued at $2,668,785.21. The trade was a 25.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 31,512 shares of company stock valued at $8,160,028. 1.10% of the stock is owned by company insiders.

Wabtec Stock Down 0.5%

Shares of WAB stock opened at $238.00 on Wednesday. Wabtec has a 52-week low of $151.81 and a 52-week high of $266.27. The stock has a market cap of $40.58 billion, a price-to-earnings ratio of 34.85, a PEG ratio of 1.81 and a beta of 0.99. The firm’s 50-day moving average is $243.15 and its 200-day moving average is $217.12. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.57 and a current ratio of 1.11.

Wabtec (NYSE:WAB) last posted its quarterly earnings results on Wednesday, February 11th. The transportation company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.02. The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.86 billion. Wabtec had a return on equity of 14.12% and a net margin of 10.48%.Wabtec’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the company posted $1.68 earnings per share. Wabtec has set its FY 2026 guidance at 10.050-10.450 EPS. Sell-side analysts predict that Wabtec will post 8.54 EPS for the current year.

Wabtec announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 11th that permits the company to buyback $1.20 billion in shares. This buyback authorization permits the transportation company to buy up to 2.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Wabtec Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Tuesday, February 17th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $1.24 annualized dividend and a yield of 0.5%. This is a positive change from Wabtec’s previous quarterly dividend of $0.25. Wabtec’s payout ratio is 18.16%.

Wall Street Analysts Forecast Growth

WAB has been the topic of several analyst reports. Citigroup upped their target price on Wabtec from $258.00 to $283.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Stephens raised their price target on Wabtec from $230.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, February 12th. Wolfe Research raised Wabtec from a “peer perform” rating to an “outperform” rating and set a $245.00 price target on the stock in a research report on Thursday, January 8th. Wells Fargo & Company upped their price objective on Wabtec from $224.00 to $270.00 and gave the stock an “equal weight” rating in a research note on Friday, February 13th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Wabtec in a report on Wednesday, January 21st. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $269.00.

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.