Wabtec $WAB Holdings Decreased by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. trimmed its stake in shares of Wabtec (NYSE:WAB) by 82.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,391 shares of the transportation company’s stock after selling 6,660 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Wabtec were worth $279,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling

In related news, CFO John A. Olin sold 11,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $263.30, for a total transaction of $2,896,300.00. Following the transaction, the chief financial officer owned 60,487 shares of the company’s stock, valued at approximately $15,926,227.10. This trade represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nalin Jain sold 7,936 shares of the 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 owned 6,364 shares in the company, valued at approximately $1,680,668.76. This trade represents a 55.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 33,192 shares of company stock worth $8,379,272. Insiders own 1.10% of the company’s stock.

Wabtec Trading Down 0.2%

NYSE WAB opened at $246.53 on Wednesday. The firm’s 50 day moving average price is $240.77 and its two-hundred day moving average price is $215.52. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.57 and a current ratio of 1.11. Wabtec has a twelve month low of $151.81 and a twelve month high of $266.27. The stock has a market cap of $42.04 billion, a price-to-earnings ratio of 36.09, a PEG ratio of 1.86 and a beta of 0.99.

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

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

Wabtec Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Tuesday, February 17th were paid a dividend of $0.31 per share. This is an increase from Wabtec’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.5%. Wabtec’s dividend payout ratio (DPR) is 18.16%.

Wall Street Analysts Forecast Growth

WAB has been the topic of several recent research reports. Wolfe Research raised 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. Stephens increased their target price on shares of Wabtec from $230.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, February 12th. Wells Fargo & Company increased their price objective on Wabtec from $224.00 to $270.00 and gave the company an “equal weight” rating in a research report on Friday, February 13th. KeyCorp boosted their target price on Wabtec from $240.00 to $308.00 and gave the stock an “overweight” rating in a research report on Thursday, February 12th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $315.00 target price on shares of Wabtec in a report on Tuesday, February 17th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $269.00.

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.