Jain Global LLC Acquires 246,638 Shares of Wabtec $WAB

Jain Global LLC increased its holdings in shares of Wabtec (NYSE:WAB) by 10,298.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 249,033 shares of the transportation company’s stock after purchasing an additional 246,638 shares during the quarter. Wabtec accounts for 0.2% of Jain Global LLC’s portfolio, making the stock its 16th biggest holding. Jain Global LLC’s holdings in Wabtec were worth $49,924,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Colonial Trust Advisors increased its holdings in Wabtec by 454.5% in the 2nd quarter. Colonial Trust Advisors now owns 122 shares of the transportation company’s stock worth $26,000 after buying an additional 100 shares in the last quarter. Piscataqua Savings Bank lifted its stake in Wabtec by 12,800.0% during the 3rd quarter. Piscataqua Savings Bank now owns 129 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 128 shares during the period. Motco lifted its stake in Wabtec by 6,600.0% during the 3rd quarter. Motco now owns 134 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 132 shares during the period. Salomon & Ludwin LLC boosted its holdings in shares of Wabtec by 370.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 160 shares of the transportation company’s stock valued at $32,000 after acquiring an additional 126 shares during the last quarter. Finally, North Capital Inc. boosted its holdings in shares of Wabtec by 18,900.0% during 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 during the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on WAB shares. KeyCorp boosted their price objective on shares of Wabtec from $240.00 to $308.00 and gave the company an “overweight” rating in a report on Thursday, February 12th. Wolfe Research upgraded shares of Wabtec from a “peer perform” rating to an “outperform” rating and set a $245.00 target price on the stock in a report on Thursday, January 8th. Stephens lifted their target price on shares of Wabtec from $230.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, February 12th. Citigroup boosted their target price on shares of Wabtec from $258.00 to $283.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Finally, JPMorgan Chase & Co. increased their price target on Wabtec from $215.00 to $245.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $269.00.

Insider Transactions at Wabtec

In other Wabtec news, EVP Gina Trombley sold 4,013 shares of the business’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $241.87, for a total transaction of $970,624.31. Following the completion of the sale, the executive vice president owned 13,841 shares of the company’s stock, valued at approximately $3,347,722.67. The trade was a 22.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Rafael Santana sold 1,163 shares of the company’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $243.10, for a total value of $282,725.30. Following the completion of the sale, the chief executive officer owned 190,744 shares of the company’s stock, valued at approximately $46,369,866.40. The trade was a 0.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 33,310 shares of company stock worth $8,541,509 over the last three months. 1.10% of the stock is currently owned by insiders.

Wabtec Price Performance

Shares of NYSE:WAB opened at $236.60 on Monday. The firm’s 50 day moving average price is $242.37 and its 200-day moving average price is $216.49. Wabtec has a twelve month low of $151.81 and a twelve month high of $266.27. The company has a quick ratio of 0.57, a current ratio of 1.11 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $40.34 billion, a PE ratio of 34.64, a price-to-earnings-growth ratio of 1.79 and a beta of 0.99.

Wabtec (NYSE:WAB) last posted its quarterly earnings data 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. Wabtec had a net margin of 10.48% and a return on equity of 14.12%. The company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.86 billion. During the same quarter last year, the firm posted $1.68 earnings per share. The firm’s revenue was up 14.8% compared to the same quarter last year. Wabtec has set its FY 2026 guidance at 10.050-10.450 EPS. Equities research analysts expect that Wabtec will post 8.54 EPS for the current year.

Wabtec Increases Dividend

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

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

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.