Farallon Capital Management LLC Raises Stock Position in Wabtec $WAB

Farallon Capital Management LLC lifted its holdings in shares of Wabtec (NYSE:WAB) by 68.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,205,098 shares of the transportation company’s stock after buying an additional 896,900 shares during the period. Wabtec makes up about 1.8% of Farallon Capital Management LLC’s portfolio, making the stock its 15th biggest holding. Farallon Capital Management LLC’s holdings in Wabtec were worth $442,056,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in WAB. Varenne Capital Partners raised its holdings in shares of Wabtec by 39.5% during the 2nd quarter. Varenne Capital Partners now owns 277,078 shares of the transportation company’s stock valued at $58,006,000 after buying an additional 78,394 shares during the period. Empowered Funds LLC boosted its holdings in Wabtec by 240.8% in the 2nd quarter. Empowered Funds LLC now owns 15,924 shares of the transportation company’s stock worth $3,334,000 after acquiring an additional 11,252 shares during the period. Varma Mutual Pension Insurance Co boosted its holdings in Wabtec by 9.1% in the 3rd quarter. Varma Mutual Pension Insurance Co now owns 47,924 shares of the transportation company’s stock worth $9,607,000 after acquiring an additional 4,000 shares during the period. Quantbot Technologies LP acquired a new stake in Wabtec in the second quarter valued at approximately $9,371,000. Finally, Mediolanum International Funds Ltd acquired a new stake in Wabtec in the second quarter valued at approximately $8,201,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Nalin Jain sold 7,936 shares of Wabtec stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $264.09, for a total value of $2,095,818.24. Following the completion of the transaction, the insider directly owned 6,364 shares in the company, valued at approximately $1,680,668.76. This trade represents 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 accessible through this link. Also, insider Sameer Gaur sold 1,150 shares of the business’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $262.62, for a total value of $302,013.00. Following the completion of the sale, the insider directly owned 12,017 shares of the company’s stock, valued at approximately $3,155,904.54. This represents a 8.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 33,310 shares of company stock worth $8,541,509. 1.10% of the stock is currently owned by insiders.

Wabtec Stock Performance

Wabtec stock opened at $236.60 on Monday. The stock has a market cap of $40.34 billion, a P/E ratio of 34.64, a price-to-earnings-growth ratio of 1.79 and a beta of 0.99. 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 stock has a 50 day moving average of $242.37 and a 200-day moving average of $216.49. Wabtec has a 52 week low of $151.81 and a 52 week high of $266.27.

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

Wabtec declared that its Board of Directors has approved a stock repurchase program 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 stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Wabtec Increases Dividend

The business also recently disclosed 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 an increase from Wabtec’s previous quarterly dividend of $0.25. Wabtec’s dividend payout ratio (DPR) is 18.16%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on WAB shares. Morgan Stanley reissued an “overweight” rating and set a $315.00 target price on shares of Wabtec in a research report on Tuesday, February 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wabtec in a report on Wednesday, January 21st. JPMorgan Chase & Co. lifted their price target 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. KeyCorp boosted their price objective on shares of Wabtec from $240.00 to $308.00 and gave the stock an “overweight” rating in a report on Thursday, February 12th. Finally, Wells Fargo & Company upped 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. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $269.00.

Wabtec Company 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.