Hudson Bay Capital Management LP Purchases 71,698 Shares of Wabtec $WAB

Hudson Bay Capital Management LP raised its holdings in shares of Wabtec (NYSE:WAB) by 338.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 92,905 shares of the transportation company’s stock after purchasing an additional 71,698 shares during the quarter. Hudson Bay Capital Management LP’s holdings in Wabtec were worth $18,625,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of WAB. Norges Bank bought a new stake in shares of Wabtec during the 2nd quarter worth approximately $347,194,000. Farallon Capital Management LLC grew its position in Wabtec by 68.6% in the 3rd quarter. Farallon Capital Management LLC now owns 2,205,098 shares of the transportation company’s stock valued at $442,056,000 after acquiring an additional 896,900 shares during the last quarter. UBS Group AG grew its position in Wabtec by 194.2% in the 3rd quarter. UBS Group AG now owns 1,033,304 shares of the transportation company’s stock valued at $207,146,000 after acquiring an additional 682,048 shares during the last quarter. Qube Research & Technologies Ltd purchased a new stake in Wabtec in the second quarter worth $121,612,000. Finally, AQR Capital Management LLC lifted its position in shares of Wabtec by 76.3% during the third quarter. AQR Capital Management LLC now owns 1,229,270 shares of the transportation company’s stock worth $245,534,000 after purchasing an additional 532,121 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

Analyst Ratings Changes

WAB has been the subject of a number of recent analyst reports. Morgan Stanley reissued an “overweight” rating and set a $315.00 target price on shares of Wabtec in a research note on Tuesday, February 17th. Stephens lifted their price objective on shares of Wabtec from $230.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, February 12th. Wells Fargo & Company boosted their price objective on shares of Wabtec from $224.00 to $270.00 and gave the company an “equal weight” rating in a research report on Friday, February 13th. JPMorgan Chase & Co. upped their target price on shares of Wabtec from $215.00 to $245.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Finally, KeyCorp raised their target price on shares of Wabtec from $240.00 to $308.00 and gave the stock an “overweight” rating in a research report on Thursday, February 12th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Wabtec presently has an average rating of “Moderate Buy” and an average price target of $269.00.

Wabtec Price Performance

WAB opened at $237.92 on Thursday. Wabtec has a 12-month low of $151.81 and a 12-month high of $266.27. The company has a current ratio of 1.11, a quick ratio of 0.57 and a debt-to-equity ratio of 0.38. The business’s fifty day simple moving average is $243.58 and its 200-day simple moving average is $217.26. The company has a market capitalization of $40.57 billion, a price-to-earnings ratio of 34.84, a PEG ratio of 1.80 and a beta of 0.99.

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

Wabtec Increases Dividend

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

Wabtec declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 11th that authorizes the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization authorizes the transportation company to repurchase up to 2.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, insider Nalin Jain sold 7,936 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider owned 6,364 shares of the company’s stock, valued at approximately $1,680,668.76. This represents a 55.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gina Trombley sold 4,013 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $241.87, for a total transaction of $970,624.31. Following the transaction, the executive vice president owned 13,841 shares in the company, valued at approximately $3,347,722.67. This represents a 22.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 31,512 shares of company stock worth $8,160,028. 1.10% of the stock is owned by corporate insiders.

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.