NewEdge Wealth LLC Invests $743,000 in Wabtec $WAB

NewEdge Wealth LLC acquired a new position in Wabtec (NYSE:WAB) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,479 shares of the transportation company’s stock, valued at approximately $743,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WAB. Nordea Investment Management AB boosted its holdings in shares of 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. Farallon Capital Management LLC boosted its holdings in shares of 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. UBS Group AG boosted its holdings in shares of Wabtec by 194.2% in the 3rd quarter. UBS Group AG now owns 1,033,304 shares of the transportation company’s stock worth $207,146,000 after purchasing an additional 682,048 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Wabtec by 76.3% in the 3rd quarter. AQR Capital Management LLC now owns 1,229,270 shares of the transportation company’s stock worth $245,534,000 after purchasing an additional 532,121 shares in the last quarter. Finally, Junto Capital Management LP purchased a new position in shares of Wabtec in the 3rd quarter worth about $80,160,000. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Wabtec

In other news, CEO Rafael Santana sold 60,852 shares of the stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $268.89, for a total value of $16,362,494.28. Following the completion of the transaction, the chief executive officer owned 128,729 shares of the company’s stock, valued at approximately $34,613,940.81. This represents a 32.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gina Trombley sold 4,013 shares of the stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $241.87, for a total value of $970,624.31. Following the completion of the transaction, the executive vice president directly owned 13,841 shares of the company’s stock, valued at $3,347,722.67. This represents a 22.48% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 91,729 shares of company stock worth $24,387,500. 0.57% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

WAB has been the subject of a number of research reports. Jefferies Financial Group reiterated a “buy” rating and issued a $290.00 price objective (down from $300.00) on shares of Wabtec in a report on Tuesday, March 31st. Citigroup upped their price objective on Wabtec from $283.00 to $292.00 and gave the stock a “buy” rating in a report on Thursday, April 9th. Wall Street Zen cut Wabtec from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. JPMorgan Chase & Co. dropped their target price on Wabtec from $290.00 to $280.00 and set a “neutral” rating for the company in a report on Friday, April 10th. Finally, Rothschild & Co Redburn upgraded Wabtec from a “neutral” rating to a “buy” rating and increased their target price for the company from $262.00 to $285.00 in a report on Thursday, March 26th. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Wabtec has an average rating of “Moderate Buy” and a consensus price target of $289.82.

Wabtec Trading Down 1.9%

NYSE WAB opened at $264.29 on Friday. Wabtec has a fifty-two week low of $184.26 and a fifty-two week high of $275.84. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.54 and a current ratio of 1.02. The stock has a 50 day simple moving average of $255.84 and a two-hundred day simple moving average of $235.42. The stock has a market cap of $44.84 billion, a P/E ratio of 37.38, a price-to-earnings-growth ratio of 1.93 and a beta of 0.97.

Wabtec (NYSE:WAB) last released its quarterly earnings data on Wednesday, April 22nd. The transportation company reported $2.71 earnings per share for the quarter, topping 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 business had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter last year, the business posted $2.28 EPS. The business’s revenue was up 13.0% on a year-over-year basis. Wabtec has set its FY 2026 guidance at 10.250-10.650 EPS. On average, analysts forecast that Wabtec will post 10.61 earnings per share for the current year.

Wabtec declared that its Board of Directors has initiated 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 shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Wabtec Announces Dividend

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

About Wabtec

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.