IPG Investment Advisors LLC Makes New Investment in Wabtec $WAB

IPG Investment Advisors LLC purchased a new stake in shares of Wabtec (NYSE:WAB) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 6,740 shares of the transportation company’s stock, valued at approximately $1,817,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of WAB. Meeder Asset Management Inc. acquired a new position in Wabtec in the 2nd quarter worth approximately $26,000. Whipplewood Advisors LLC purchased a new stake in shares of Wabtec in the 1st quarter valued at $25,000. Bell Investment Advisors Inc purchased a new stake in shares of Wabtec in the 2nd quarter valued at $29,000. Fiduciary Financial Advisors acquired a new stake in shares of Wabtec in the second quarter worth $29,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its holdings in shares of Wabtec by 125.9% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 131 shares of the transportation company’s stock worth $28,000 after purchasing an additional 73 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Insider Buying and Selling

In related news, insider Michael Fetsko sold 3,250 shares of Wabtec stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $293.22, for a total value of $952,965.00. Following the sale, the insider owned 37,380 shares of the company’s stock, valued at approximately $10,960,563.60. This trade represents a 8.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gregory Sbrocco sold 952 shares of the business’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $300.00, for a total transaction of $285,600.00. Following the completion of the sale, the executive vice president directly owned 21,043 shares of the company’s stock, valued at approximately $6,312,900. The trade was a 4.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 18,710 shares of company stock valued at $5,505,630 in the last 90 days. Corporate insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on WAB. Morgan Stanley boosted their target price on shares of Wabtec from $318.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Wells Fargo & Company lifted their price objective on Wabtec from $284.00 to $315.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. KeyCorp boosted their price objective on Wabtec from $308.00 to $340.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Wabtec in a research note on Friday, July 17th. Finally, JPMorgan Chase & Co. raised their target price on Wabtec from $300.00 to $315.00 and gave the stock a “neutral” rating in a report on Thursday, July 23rd. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Wabtec presently has a consensus rating of “Moderate Buy” and a consensus target price of $313.36.

Wabtec Stock Down 1.3%

WAB stock opened at $280.88 on Thursday. Wabtec has a one year low of $184.26 and a one year high of $306.64. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.59 and a current ratio of 1.12. The firm’s fifty day moving average is $284.25 and its 200 day moving average is $268.43. The firm has a market cap of $47.44 billion, a PE ratio of 37.75, a P/E/G ratio of 1.93 and a beta of 0.92.

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

Wabtec Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th were given a dividend of $0.31 per share. The ex-dividend date was Tuesday, August 18th. This represents a $1.24 dividend on an annualized basis and a yield of 0.4%. Wabtec’s dividend payout ratio is currently 16.67%.

Wabtec Profile

Westinghouse Air Brake Technologies Corporation, known as Wabtec, is a global provider of equipment, systems, and services for the freight and transit rail industries. The company develops technologies designed to improve the safety, efficiency, reliability, and environmental performance of rail transportation.

Wabtec’s products and services include locomotives and locomotive components, braking systems, rail-control and signaling technologies, digital train-management solutions, and equipment for freight cars and passenger rail vehicles.