Edgestream Partners L.P. Buys New Shares in Wabtec $WAB

Edgestream Partners L.P. bought a new position in shares of Wabtec (NYSE:WAB) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 42,475 shares of the transportation company’s stock, valued at approximately $10,615,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Nomura Asset Management Co. Ltd. boosted its position in shares of Wabtec by 5.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 85,485 shares of the transportation company’s stock worth $18,247,000 after acquiring an additional 4,266 shares during the last quarter. Azzad Asset Management Inc. ADV increased its holdings in shares of Wabtec by 47.7% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 8,710 shares of the transportation company’s stock worth $1,859,000 after buying an additional 2,811 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Wabtec by 24,274.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 323,936 shares of the transportation company’s stock valued at $69,144,000 after acquiring an additional 322,607 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in Wabtec by 897.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 15,502 shares of the transportation company’s stock worth $3,309,000 after acquiring an additional 13,948 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Wabtec by 16.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 925,021 shares of the transportation company’s stock worth $197,446,000 after purchasing an additional 132,091 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Morgan Stanley raised their price target on shares of Wabtec from $318.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. KeyCorp raised their target price on shares of Wabtec from $308.00 to $340.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Wolfe Research restated an “outperform” rating and set a $303.00 target price on shares of Wabtec in a report on Thursday, April 23rd. Susquehanna upped their price target 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. Finally, Wells Fargo & Company raised their price objective on Wabtec from $284.00 to $315.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $310.64.

Wabtec Stock Down 4.5%

Shares of NYSE:WAB opened at $292.04 on Thursday. The company has a market capitalization of $49.33 billion, a price-to-earnings ratio of 39.25, a price-to-earnings-growth ratio of 2.07 and a beta of 0.94. The company has a 50 day moving average of $268.27 and a two-hundred day moving average of $257.11. Wabtec has a 52-week low of $184.26 and a 52-week high of $306.64. The company has a quick ratio of 0.59, a current ratio of 1.12 and a debt-to-equity ratio of 0.44.

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

Wabtec Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, August 18th. Wabtec’s dividend payout ratio is presently 16.67%.

Insider Activity

In other news, VP David L. Deninno sold 3,000 shares of the firm’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $301.31, for a total transaction of $903,930.00. Following the completion of the sale, the vice president directly owned 55,128 shares in the company, valued at $16,610,617.68. This trade represents a 5.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Rafael Santana sold 1,163 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $261.06, for a total value of $303,612.78. Following the completion of the transaction, the chief executive officer owned 124,077 shares in the company, valued at approximately $32,391,541.62. This trade represents a 0.93% 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. In the last quarter, insiders sold 16,834 shares of company stock valued at $4,833,958. Corporate insiders own 0.57% 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.