Nomura Asset Management Co. Ltd. Increases Position in Wabtec $WAB

Nomura Asset Management Co. Ltd. grew its holdings in Wabtec (NYSE:WAB) by 5.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 85,485 shares of the transportation company’s stock after acquiring an additional 4,266 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Wabtec were worth $18,247,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Varma Mutual Pension Insurance Co raised its holdings in Wabtec by 9.1% during the third quarter. Varma Mutual Pension Insurance Co now owns 47,924 shares of the transportation company’s stock worth $9,607,000 after purchasing an additional 4,000 shares in the last quarter. SG Americas Securities LLC raised its holdings in Wabtec by 809.6% during the fourth quarter. SG Americas Securities LLC now owns 152,297 shares of the transportation company’s stock worth $32,508,000 after purchasing an additional 135,553 shares in the last quarter. Nordea Investment Management AB raised its holdings in Wabtec by 55.5% during the fourth 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. 111 Capital purchased a new position in Wabtec during the third quarter worth about $949,000. Finally, Alberta Investment Management Corp purchased a new position in Wabtec during the third quarter worth about $842,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

Wabtec Stock Down 1.9%

WAB stock opened at $256.23 on Tuesday. The company’s 50 day simple moving average is $259.47 and its 200-day simple moving average is $239.86. The firm has a market capitalization of $43.48 billion, a PE ratio of 36.24, a P/E/G ratio of 1.87 and a beta of 0.94. Wabtec has a 12 month low of $184.26 and a 12 month high of $275.84. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.02 and a quick ratio of 0.54.

Wabtec (NYSE:WAB) last released its quarterly earnings results on Wednesday, April 22nd. The transportation company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.62 by $0.09. The business had revenue of $2.95 billion for the quarter, compared to analyst estimates of $3.08 billion. Wabtec had a net margin of 10.52% and a return on equity of 14.52%. The company’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.28 earnings per share. Wabtec has set its FY 2026 guidance at 10.250-10.650 EPS. Equities analysts expect that Wabtec will post 10.61 earnings per share for the current fiscal year.

Wabtec Announces Dividend

The firm also recently declared 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 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%.

Wabtec declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 11th that permits the company to buyback $1.20 billion in outstanding shares. This buyback authorization permits the transportation company to reacquire up to 2.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

WAB has been the topic of several recent analyst reports. Wells Fargo & Company upped their target price on shares of Wabtec from $270.00 to $284.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 23rd. KeyCorp upped their target price on shares of Wabtec from $240.00 to $308.00 and gave the stock an “overweight” rating in a research report on Thursday, February 12th. Susquehanna restated a “positive” rating and set a $305.00 target price on shares of Wabtec in a research report on Thursday, April 23rd. Jefferies Financial Group restated a “buy” rating and set a $290.00 target price (down from $300.00) on shares of Wabtec in a research report on Tuesday, March 31st. Finally, Citigroup upped their target price on shares of Wabtec from $283.00 to $292.00 and gave the stock a “buy” rating in a research report on Thursday, April 9th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Wabtec currently has a consensus rating of “Moderate Buy” and a consensus target price of $289.82.

Insider Activity at Wabtec

In other news, CEO Rafael Santana sold 1,163 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $263.77, for a total value of $306,764.51. Following the sale, the chief executive officer directly owned 127,566 shares in the company, valued at $33,648,083.82. This represents a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 shares were 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 in the company, valued at $3,347,722.67. This represents a 22.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 67,191 shares of company stock worth $17,922,608 over the last quarter. Company insiders own 0.57% of the company’s stock.

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.