The Manufacturers Life Insurance Company Trims Stock Holdings in Wabtec $WAB

The Manufacturers Life Insurance Company decreased its position in Wabtec (NYSE:WAB) by 4.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 88,739 shares of the transportation company’s stock after selling 4,201 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.05% of Wabtec worth $23,924,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WAB. Meeder Asset Management Inc. bought a new position in shares of Wabtec in the 2nd quarter worth about $26,000. Whipplewood Advisors LLC purchased a new position in Wabtec during the 1st quarter valued at about $25,000. Bell Investment Advisors Inc bought a new stake in Wabtec during the second quarter worth about $29,000. Fiduciary Financial Advisors bought a new stake in Wabtec during the second quarter worth about $29,000. Finally, Clal Insurance Enterprises Holdings Ltd grew its holdings in Wabtec by 125.9% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 131 shares of the transportation company’s stock worth $28,000 after purchasing an additional 73 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Wabtec Price Performance

Shares of NYSE WAB opened at $297.03 on Friday. Wabtec has a twelve month low of $184.26 and a twelve month high of $306.64. The firm has a market cap of $50.17 billion, a P/E ratio of 39.92, a PEG ratio of 2.04 and a beta of 0.93. The company has a 50 day moving average of $282.30 and a 200 day moving average of $266.63. 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 issued its earnings results on Wednesday, July 22nd. The transportation company reported $2.76 EPS for the quarter, beating the consensus estimate of $2.60 by $0.16. Wabtec had a return on equity of 15.10% and a net margin of 10.59%.The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.07 billion. During the same period last year, the business posted $2.27 EPS. The company’s revenue was up 17.5% compared to the same quarter last year. Wabtec has set its FY 2026 guidance at 10.600-10.900 EPS. As a group, research analysts expect that Wabtec will post 10.86 EPS for the current fiscal year.

Wabtec Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 0.4%. The ex-dividend date is Tuesday, August 18th. Wabtec’s dividend payout ratio (DPR) is presently 16.67%.

Insider Buying and Selling

In other Wabtec news, 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 value of $952,965.00. Following the completion of the transaction, the insider owned 37,380 shares of the company’s stock, valued at approximately $10,960,563.60. The trade was a 8.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Eric Gebhardt sold 7,100 shares of the firm’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $299.27, for a total transaction of $2,124,817.00. Following the sale, the chief technology officer directly owned 19,153 shares in the company, valued at approximately $5,731,918.31. The trade was a 27.04% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 21,036 shares of company stock worth $6,113,542 in the last three months. 0.57% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on WAB shares. Morgan Stanley raised their target price 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. Wells Fargo & Company boosted their price target on Wabtec from $284.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 23rd. Wall Street Zen lowered Wabtec from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. JPMorgan Chase & Co. boosted their target price on Wabtec from $300.00 to $315.00 and gave the stock a “neutral” rating in a report on Thursday, July 23rd. Finally, KeyCorp increased their target price on Wabtec from $308.00 to $340.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $313.36.

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.