Pinnbrook Capital Management LP Invests $7.74 Million in Wabtec $WAB

Pinnbrook Capital Management LP acquired a new position in Wabtec (NYSE:WAB) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 36,275 shares of the transportation company’s stock, valued at approximately $7,743,000. Wabtec accounts for about 1.1% of Pinnbrook Capital Management LP’s portfolio, making the stock its 28th biggest holding.

Several other hedge funds also recently made changes to their positions in the business. Wellington Management Group LLP grew its stake in shares of Wabtec by 3.6% in the 3rd quarter. Wellington Management Group LLP now owns 3,304,183 shares of the transportation company’s stock worth $662,390,000 after purchasing an additional 116,329 shares during the last quarter. Nordea Investment Management AB increased its stake 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 purchasing an additional 1,095,083 shares in the last quarter. Boston Partners increased its stake in Wabtec by 1.9% in the 3rd quarter. Boston Partners now owns 2,304,832 shares of the transportation company’s stock worth $462,057,000 after purchasing an additional 43,376 shares in the last quarter. Farallon Capital Management LLC increased its stake 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 worth $442,056,000 after purchasing an additional 896,900 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Wabtec by 1.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,718,241 shares of the transportation company’s stock worth $344,405,000 after purchasing an additional 19,952 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Analyst Ratings Changes

WAB has been the topic of a number of analyst reports. Rothschild & Co Redburn raised Wabtec from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $262.00 to $285.00 in a research note on Thursday, March 26th. Wells Fargo & Company lifted their price target on Wabtec from $270.00 to $284.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 23rd. Stephens lifted their price target on Wabtec from $230.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, February 12th. JPMorgan Chase & Co. dropped their price target on Wabtec from $290.00 to $280.00 and set a “neutral” rating on the stock in a research note on Friday, April 10th. Finally, Wolfe Research reissued an “outperform” rating and issued a $303.00 price target on shares of Wabtec in a research note on Thursday, April 23rd. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $289.82.

Insider Activity at Wabtec

In other Wabtec news, insider Sameer Gaur sold 1,150 shares of Wabtec stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $262.62, for a total transaction of $302,013.00. Following the transaction, the insider owned 12,017 shares of the company’s stock, valued at $3,155,904.54. The trade was a 8.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO John A. Olin sold 11,000 shares of Wabtec stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $263.30, for a total value of $2,896,300.00. Following the transaction, the chief financial officer directly owned 60,487 shares in the company, valued at approximately $15,926,227.10. This trade represents a 15.39% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 87,277 shares of company stock worth $23,216,740. Company insiders own 0.57% of the company’s stock.

Wabtec Trading Down 1.6%

NYSE:WAB opened at $255.07 on Friday. 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 fifty-two week low of $184.26 and a fifty-two week high of $275.84. The stock’s 50-day moving average is $256.65 and its two-hundred day moving average is $237.23. The stock has a market cap of $43.28 billion, a PE ratio of 36.08, a price-to-earnings-growth ratio of 1.85 and a beta of 0.97.

Wabtec (NYSE:WAB) last released its earnings results on Wednesday, April 22nd. The transportation company reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.09. Wabtec had a return on equity of 14.52% and a net margin of 10.52%.The company had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the previous year, the business posted $2.28 EPS. 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, equities research analysts forecast that Wabtec will post 10.61 earnings per share for the current fiscal year.

Wabtec Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Friday, May 22nd will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Friday, May 22nd. Wabtec’s payout ratio is 17.54%.

Wabtec announced that its Board of Directors has approved a stock buyback plan on Wednesday, February 11th that permits the company to repurchase $1.20 billion in shares. This repurchase authorization permits the transportation company to buy up to 2.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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.