TD Waterhouse Canada Inc. Sells 30,237 Shares of Wabtec $WAB

TD Waterhouse Canada Inc. cut its holdings in Wabtec (NYSE:WAB) by 25.2% during the second quarter, Holdings Channel reports. The firm owned 89,699 shares of the transportation company’s stock after selling 30,237 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Wabtec were worth $23,692,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in shares of Wabtec during the second quarter valued at approximately $3,741,077,000. Price T Rowe Associates Inc. MD boosted its position in shares of Wabtec by 20.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,965,503 shares of the transportation company’s stock worth $1,700,238,000 after acquiring an additional 1,344,744 shares during the last quarter. State Street Corp boosted its position in shares of Wabtec by 2.6% during the fourth quarter. State Street Corp now owns 7,658,040 shares of the transportation company’s stock worth $1,634,609,000 after acquiring an additional 197,610 shares during the last quarter. Geode Capital Management LLC grew its stake in Wabtec by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 4,366,157 shares of the transportation company’s stock valued at $928,249,000 after acquiring an additional 38,029 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in Wabtec by 3.6% during the third quarter. Wellington Management Group LLP now owns 3,304,183 shares of the transportation company’s stock valued at $662,390,000 after acquiring an additional 116,329 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors.

Insider Transactions at Wabtec

In other Wabtec news, insider Michael Fetsko sold 3,250 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $293.22, for a total transaction of $952,965.00. Following the sale, the insider directly owned 37,380 shares in the company, valued at $10,960,563.60. This represents a 8.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Sameer Gaur sold 1,082 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $263.50, for a total value of $285,107.00. Following the completion of the sale, the insider directly owned 11,985 shares of the company’s stock, valued at $3,158,047.50. The trade was a 8.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 19,873 shares of company stock worth $5,809,243 in the last quarter. Company insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

WAB has been the topic of several research analyst reports. Stephens boosted their price target on shares of Wabtec from $320.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Wall Street Zen cut Wabtec from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. KeyCorp boosted their target price on Wabtec from $308.00 to $340.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Susquehanna increased their price target on Wabtec from $305.00 to $340.00 and gave the company a “positive” rating in a research note on Thursday, July 23rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Wabtec in a research note on Friday, July 17th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Wabtec has a consensus rating of “Moderate Buy” and a consensus price target of $313.36.

Wabtec Price Performance

Wabtec stock opened at $282.25 on Friday. The company has a market cap of $47.67 billion, a price-to-earnings ratio of 37.94, a PEG ratio of 1.90 and a beta of 0.92. The firm’s fifty day moving average is $283.36 and its 200 day moving average is $267.88. 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 has a 52-week low of $184.26 and a 52-week high of $306.64.

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

Wabtec Dividend Announcement

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

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.