Renaissance Technologies LLC Sells 22,300 Shares of Wabtec $WAB

Renaissance Technologies LLC lessened its holdings in Wabtec (NYSE:WAB) by 16.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 116,095 shares of the transportation company’s stock after selling 22,300 shares during the period. Renaissance Technologies LLC owned approximately 0.07% of Wabtec worth $29,013,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Whipplewood Advisors LLC bought a new stake in shares of Wabtec in the 1st quarter valued at approximately $25,000. Manchester Capital Management LLC lifted its position in shares of Wabtec by 122.0% during the 4th quarter. Manchester Capital Management LLC now owns 131 shares of the transportation company’s stock worth $28,000 after buying an additional 72 shares during the period. Clal Insurance Enterprises Holdings Ltd boosted its stake in Wabtec by 125.9% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 131 shares of the transportation company’s stock valued at $28,000 after buying an additional 73 shares in the last quarter. McMillan Office Inc. acquired a new stake in Wabtec in the 4th quarter valued at $31,000. Finally, Reflection Asset Management bought a new stake in Wabtec in the fourth quarter valued at $35,000. Institutional investors own 91.69% of the company’s stock.

Wabtec Stock Up 1.5%

NYSE WAB opened at $305.54 on Wednesday. The stock’s 50 day simple moving average is $267.62 and its 200 day simple moving average is $256.62. Wabtec has a one year low of $184.26 and a one year high of $306.10. The firm has a market cap of $51.61 billion, a PE ratio of 41.07, a price-to-earnings-growth ratio of 2.04 and a beta of 0.94. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.12 and a quick ratio of 0.59.

Wabtec (NYSE:WAB) last issued its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.60 by $0.16. The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.07 billion. Wabtec had a return on equity of 15.10% and a net margin of 10.59%.The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.27 EPS. Wabtec has set its FY 2026 guidance at 10.600-10.900 EPS. As a group, sell-side analysts forecast that Wabtec will post 10.86 earnings per share for the current fiscal year.

Wabtec Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, August 18th. Wabtec’s payout ratio is currently 16.67%.

Insiders Place Their Bets

In related news, CEO Rafael Santana sold 1,163 shares of the company’s 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 transaction, the chief executive officer owned 124,077 shares in the company, valued at $32,391,541.62. This represents a 0.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sameer Gaur sold 1,082 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $263.50, for a total transaction of $285,107.00. Following the sale, the insider directly owned 11,985 shares in the company, valued at approximately $3,158,047.50. This represents a 8.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 16,834 shares of company stock valued at $4,833,958. 0.57% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on WAB shares. Wolfe Research reiterated an “outperform” rating and set a $303.00 price objective on shares of Wabtec in a research note on Thursday, April 23rd. JPMorgan Chase & Co. boosted their target price on shares of Wabtec from $300.00 to $315.00 and gave the company a “neutral” rating in a research note on Thursday, July 23rd. Wells Fargo & Company upped their target price on shares of Wabtec from $284.00 to $315.00 and gave the stock an “equal weight” rating in a report on Thursday, July 23rd. Morgan Stanley increased their target price on shares of Wabtec from $318.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Finally, Wall Street Zen raised shares of Wabtec from a “hold” rating to a “buy” rating in a report on Saturday. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Wabtec has a consensus rating of “Moderate Buy” and a consensus target price of $310.64.

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.