Wabtec $WAB Shares Bought by Legal & General Group Plc

Legal & General Group Plc grew its position in Wabtec (NYSE:WAB) by 13.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,230,060 shares of the transportation company’s stock after purchasing an additional 141,706 shares during the quarter. Legal & General Group Plc owned about 0.72% of Wabtec worth $246,590,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. CI Investments Inc. boosted its position in shares of Wabtec by 6.1% in the 3rd quarter. CI Investments Inc. now owns 865 shares of the transportation company’s stock worth $173,000 after purchasing an additional 50 shares in the last quarter. Wedmont Private Capital grew its stake in Wabtec by 2.6% during the 3rd quarter. Wedmont Private Capital now owns 2,246 shares of the transportation company’s stock worth $444,000 after buying an additional 56 shares during the last quarter. OFI Invest Asset Management increased its position in Wabtec by 10.0% during the 3rd 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 in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Wabtec by 6.5% in 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 during the last quarter. Finally, Tectonic Advisors LLC raised its stake in Wabtec by 1.4% in the third quarter. Tectonic Advisors LLC now owns 5,541 shares of the transportation company’s stock valued at $1,111,000 after buying an additional 78 shares during the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wolfe Research upgraded Wabtec from a “peer perform” rating to an “outperform” rating and set a $245.00 price target on the stock in a research note on Thursday, January 8th. Wall Street Zen raised shares of Wabtec from a “hold” rating to a “buy” rating in a research report on Monday, March 2nd. Stephens lifted their target price on shares of Wabtec from $230.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, February 12th. KeyCorp boosted their target price on shares of 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 restated an “overweight” rating and set a $315.00 price target on shares of Wabtec in a research note 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 company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $269.00.

Wabtec Stock Down 0.3%

Wabtec stock opened at $245.94 on Thursday. The business’s 50-day simple moving average is $241.42 and its two-hundred day simple moving average is $215.73. 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 has a market cap of $41.94 billion, a PE ratio of 36.01, a PEG ratio of 1.86 and a beta of 0.99. Wabtec has a fifty-two week low of $151.81 and a fifty-two week high of $266.27.

Wabtec (NYSE:WAB) last announced its quarterly earnings data on Wednesday, February 11th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.02. Wabtec had a return on equity of 14.12% and a net margin of 10.48%.The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.86 billion. During the same period last year, the business posted $1.68 earnings per share. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. 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 Increases Dividend

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

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

Insider Buying and Selling at Wabtec

In other news, insider Sameer Gaur sold 1,150 shares of the company’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $262.62, for a total value of $302,013.00. Following the sale, the insider directly owned 12,017 shares of the company’s stock, valued at $3,155,904.54. This represents a 8.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Rafael Santana sold 1,163 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $243.10, for a total transaction of $282,725.30. Following the completion of the sale, the chief executive officer owned 190,744 shares in the company, valued at $46,369,866.40. The trade was a 0.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 34,355 shares of company stock worth $8,661,997. Corporate insiders own 1.10% of the company’s stock.

Wabtec 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.