Picton Mahoney Asset Management Sells 9,215 Shares of Wabtec $WAB

Picton Mahoney Asset Management lessened its stake in Wabtec (NYSE:WAB) by 10.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,390 shares of the transportation company’s stock after selling 9,215 shares during the period. Picton Mahoney Asset Management’s holdings in Wabtec were worth $15,114,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. CI Investments Inc. increased its position in shares of Wabtec by 6.1% during the third quarter. CI Investments Inc. now owns 865 shares of the transportation company’s stock worth $173,000 after acquiring an additional 50 shares during the period. Parkside Financial Bank & Trust grew its stake in Wabtec by 7.3% in the second quarter. Parkside Financial Bank & Trust now owns 797 shares of the transportation company’s stock worth $167,000 after purchasing an additional 54 shares in the last quarter. Wedmont Private Capital grew its stake in Wabtec by 2.6% in the third quarter. Wedmont Private Capital now owns 2,246 shares of the transportation company’s stock worth $444,000 after purchasing an additional 56 shares in the last quarter. OFI Invest Asset Management increased its holdings in Wabtec by 10.0% during the 3rd quarter. OFI Invest Asset Management now owns 625 shares of the transportation company’s stock worth $125,000 after purchasing an additional 57 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its position in Wabtec by 6.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 973 shares of the transportation company’s stock valued at $204,000 after purchasing an additional 59 shares in the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Wabtec Stock Down 1.1%

NYSE:WAB opened at $260.70 on Wednesday. Wabtec has a fifty-two week low of $151.81 and a fifty-two week high of $266.27. The stock has a market capitalization of $44.45 billion, a P/E ratio of 38.17, a P/E/G ratio of 1.99 and a beta of 0.99. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.57 and a current ratio of 1.11. The company’s 50-day simple moving average is $237.61 and its 200-day simple moving average is $213.49.

Wabtec (NYSE:WAB) last posted its quarterly earnings data on Wednesday, February 11th. The transportation company reported $2.10 EPS for the quarter, topping the consensus estimate of $2.08 by $0.02. Wabtec had a net margin of 10.48% and a return on equity of 14.12%. The firm had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.86 billion. During the same quarter in the previous year, the business posted $1.68 EPS. Wabtec’s revenue was up 14.8% on a year-over-year basis. Wabtec has set its FY 2026 guidance at 10.050-10.450 EPS. On average, equities analysts anticipate that Wabtec will post 8.54 earnings per share for the current fiscal year.

Wabtec announced that its board has authorized a stock repurchase program on Wednesday, February 11th that authorizes the company to buyback $1.20 billion in outstanding shares. This buyback authorization authorizes the transportation company to buy up to 2.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Wabtec Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 17th were issued a dividend of $0.31 per share. The ex-dividend date was Tuesday, February 17th. This represents a $1.24 annualized dividend and a dividend yield of 0.5%. This is a boost from Wabtec’s previous quarterly dividend of $0.25. Wabtec’s dividend payout ratio (DPR) is currently 18.16%.

Insider Transactions at Wabtec

In related news, insider Nalin Jain sold 7,936 shares of the business’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $264.09, for a total transaction of $2,095,818.24. Following the transaction, the insider directly owned 6,364 shares in the company, valued at $1,680,668.76. The trade was a 55.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sameer Gaur sold 1,150 shares of the company’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $262.62, for a total value of $302,013.00. Following the transaction, the insider directly owned 12,017 shares in the company, valued at $3,155,904.54. This represents a 8.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 40,211 shares of company stock worth $9,885,467. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on WAB shares. KeyCorp increased their price target on Wabtec from $240.00 to $308.00 and gave the stock an “overweight” rating in a research report on Thursday, February 12th. JPMorgan Chase & Co. raised their target price on shares of Wabtec from $215.00 to $245.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Morgan Stanley reaffirmed an “overweight” rating and issued a $315.00 price target on shares of Wabtec in a research report on Tuesday, February 17th. Wolfe Research upgraded shares of Wabtec from a “peer perform” rating to an “outperform” rating and set a $245.00 price objective on the stock in a research note on Thursday, January 8th. Finally, Susquehanna set a $300.00 price objective on shares of Wabtec in a research note on Thursday, February 12th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Wabtec presently has a consensus rating of “Moderate Buy” and a consensus price target of $269.00.

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.