Nordea Investment Management AB Acquires 1,095,083 Shares of Wabtec $WAB

Nordea Investment Management AB boosted its stake in shares of Wabtec (NYSE:WAB) by 55.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,069,340 shares of the transportation company’s stock after acquiring an additional 1,095,083 shares during the quarter. Nordea Investment Management AB owned about 1.80% of Wabtec worth $659,939,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Rockefeller Capital Management L.P. increased its position in shares of Wabtec by 5.9% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 17,652 shares of the transportation company’s stock valued at $3,696,000 after purchasing an additional 983 shares during the last quarter. Empowered Funds LLC lifted its position in Wabtec by 240.8% in the second quarter. Empowered Funds LLC now owns 15,924 shares of the transportation company’s stock worth $3,334,000 after buying an additional 11,252 shares during the last quarter. Handelsbanken Fonder AB lifted its position in Wabtec by 16.8% in the second quarter. Handelsbanken Fonder AB now owns 69,472 shares of the transportation company’s stock worth $14,544,000 after buying an additional 9,995 shares during the last quarter. Swiss National Bank boosted its stake in Wabtec by 6.7% during the second quarter. Swiss National Bank now owns 517,529 shares of the transportation company’s stock worth $108,345,000 after buying an additional 32,700 shares during the period. Finally, Mediolanum International Funds Ltd bought a new position in Wabtec during the second quarter valued at $8,201,000. 91.69% of the stock is owned by institutional investors.

Wabtec Stock Down 0.6%

Shares of NYSE WAB opened at $235.68 on Friday. The stock has a market capitalization of $40.19 billion, a PE ratio of 34.51, a price-to-earnings-growth ratio of 1.78 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. Wabtec has a 12-month low of $151.81 and a 12-month high of $266.27. The stock’s fifty day simple moving average is $244.09 and its two-hundred day simple moving average is $217.87.

Wabtec (NYSE:WAB) last issued its quarterly earnings data on Wednesday, February 11th. The transportation company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $2.86 billion. During the same period in the prior year, the business posted $1.68 EPS. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. Wabtec has set its FY 2026 guidance at 10.050-10.450 EPS. As a group, analysts expect that Wabtec will post 8.54 EPS for the current fiscal year.

Wabtec Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 17th were given a $0.31 dividend. 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 an increase from Wabtec’s previous quarterly dividend of $0.25. Wabtec’s payout ratio is presently 18.16%.

Wabtec announced that its board has approved a share repurchase plan on Wednesday, February 11th that allows the company to repurchase $1.20 billion in shares. This repurchase authorization allows the transportation company to purchase up to 2.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

WAB has been the subject of several analyst reports. Morgan Stanley restated an “overweight” rating and issued a $315.00 target price on shares of Wabtec in a report on Tuesday, February 17th. Susquehanna set a $300.00 price objective on shares of Wabtec in a research report on Thursday, February 12th. Wolfe Research raised shares of Wabtec from a “peer perform” rating to an “outperform” rating and set a $245.00 price objective for the company in a research note on Thursday, January 8th. Weiss Ratings restated a “buy (b)” rating on shares of Wabtec in a research report on Wednesday, January 21st. Finally, Wall Street Zen cut Wabtec from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Wabtec presently has an average rating of “Moderate Buy” and a consensus target price of $269.00.

Insider Transactions at Wabtec

In related news, EVP Gina Trombley sold 4,013 shares of the business’s 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 completion of the transaction, the executive vice president owned 13,841 shares in the company, valued at $3,347,722.67. The trade was a 22.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nalin Jain sold 7,936 shares of the firm’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 transaction 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 trade represents a 55.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over 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 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.