Horizon Investment Services LLC Makes New Investment in Wabtec $WAB

Horizon Investment Services LLC purchased a new stake in Wabtec (NYSE:WAB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,294 shares of the transportation company’s stock, valued at approximately $1,697,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Wabtec during the fourth quarter worth $409,039,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Wabtec by 20.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,965,503 shares of the transportation company’s stock valued at $1,700,238,000 after purchasing an additional 1,344,744 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Wabtec in the 2nd quarter valued at $212,692,000. Bank of Montreal Can boosted its position in shares of Wabtec by 360.0% in the 4th quarter. Bank of Montreal Can now owns 885,197 shares of the transportation company’s stock valued at $188,945,000 after purchasing an additional 692,773 shares during the period. Finally, UBS Group AG increased its stake in 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. Institutional investors and hedge funds own 91.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on WAB. Citigroup boosted their price objective on Wabtec from $311.00 to $341.00 and gave the stock a “buy” rating in a report on Thursday. Stephens raised their target price on shares of Wabtec from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. JPMorgan Chase & Co. lifted their target price on shares of Wabtec from $300.00 to $315.00 and gave the stock a “neutral” rating in a research report on Thursday, July 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Wabtec in a report on Friday, July 17th. Finally, Wall Street Zen downgraded shares of Wabtec from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $313.36.

Insider Activity at Wabtec

In other Wabtec news, insider Sameer Gaur sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $300.64, for a total value of $300,640.00. Following the transaction, the insider owned 10,985 shares in the company, valued at approximately $3,302,530.40. This represents a 8.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Eric Gebhardt sold 7,100 shares of the stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $299.27, for a total transaction of $2,124,817.00. Following the completion of the sale, the chief technology officer owned 19,153 shares of the company’s stock, valued at approximately $5,731,918.31. The trade was a 27.04% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 16,834 shares of company stock valued at $4,874,977 over the last ninety days. 0.57% of the stock is owned by company insiders.

Wabtec Stock Performance

Shares of WAB stock opened at $299.40 on Monday. The company has a market capitalization of $50.57 billion, a price-to-earnings ratio of 40.24, a P/E/G ratio of 2.03 and a beta of 0.93. Wabtec has a 1-year low of $184.26 and a 1-year high of $306.64. The company has a current ratio of 1.12, a quick ratio of 0.59 and a debt-to-equity ratio of 0.44. The stock’s fifty day simple moving average is $276.79 and its 200-day simple moving average is $262.74.

Wabtec (NYSE:WAB) last announced its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.60 by $0.16. Wabtec had a return on equity of 15.10% and a net margin of 10.59%.The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.07 billion. During the same period in the prior year, the business earned $2.27 EPS. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. Wabtec has set its FY 2026 guidance at 10.600-10.900 EPS. On average, sell-side analysts predict that Wabtec will post 10.86 earnings per share for the current fiscal year.

Wabtec Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, August 18th. Wabtec’s dividend payout ratio is 16.67%.

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.