Wabtec $WAB Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lowered its stake in shares of Wabtec (NYSE:WAB) by 4.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 88,739 shares of the transportation company’s stock after selling 4,201 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Wabtec were worth $23,924,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. California State Teachers Retirement System raised its stake in Wabtec by 24,510.5% during the 2nd quarter. California State Teachers Retirement System now owns 69,374,550 shares of the transportation company’s stock valued at $18,703,379,000 after acquiring an additional 69,092,660 shares during the last quarter. BlackRock Inc. purchased a new position in shares of Wabtec in the 2nd quarter valued at approximately $3,741,077,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Wabtec by 20.3% in 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 period. State Street Corp increased its holdings in shares of Wabtec by 2.6% in the fourth quarter. State Street Corp now owns 7,658,040 shares of the transportation company’s stock valued at $1,634,609,000 after purchasing an additional 197,610 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Wabtec by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 4,366,157 shares of the transportation company’s stock worth $928,249,000 after purchasing an additional 38,029 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Analysts Set New Price Targets

WAB has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on Wabtec from $300.00 to $315.00 and gave the stock a “neutral” rating in a report on Thursday, July 23rd. Morgan Stanley boosted their price objective on shares of Wabtec from $318.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Susquehanna upped their price objective on shares of Wabtec from $305.00 to $340.00 and gave the stock a “positive” rating in a research report on Thursday, July 23rd. Wall Street Zen cut shares of Wabtec from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Finally, Stephens lifted their target price on shares of Wabtec from $320.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $313.36.

Wabtec Stock Performance

Shares of WAB stock opened at $282.97 on Friday. 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 has a 50 day simple moving average of $285.02 and a 200-day simple moving average of $268.64. The company has a market cap of $47.80 billion, a price-to-earnings ratio of 38.03, a price-to-earnings-growth ratio of 1.92 and a beta of 0.92. Wabtec has a 12-month low of $184.26 and a 12-month high of $306.64.

Wabtec (NYSE:WAB) last posted its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $2.76 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $3.07 billion. During the same period in the previous year, the business earned $2.27 earnings per share. The company’s revenue for the quarter 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, equities analysts forecast that Wabtec will post 10.86 EPS for the current year.

Wabtec Dividend Announcement

The business also recently announced 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. This represents a $1.24 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Tuesday, August 18th. Wabtec’s payout ratio is presently 16.67%.

Insider Activity at Wabtec

In related news, CEO Rafael Santana sold 1,163 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $299.04, for a total value of $347,783.52. Following the completion of the sale, the chief executive officer owned 120,588 shares in the company, valued at $36,060,635.52. This trade represents a 0.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Fetsko sold 3,250 shares of the business’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $293.22, for a total transaction of $952,965.00. Following the sale, the insider directly owned 37,380 shares in the company, valued at approximately $10,960,563.60. This represents a 8.00% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 17,628 shares of company stock worth $5,220,523. 0.57% of the stock is currently owned by insiders.

About Wabtec

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.