Burgundy Asset Management Ltd. Raises Position in Wabtec $WAB

Burgundy Asset Management Ltd. lifted its position in Wabtec (NYSE:WAB) by 12.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 718,779 shares of the transportation company’s stock after buying an additional 77,495 shares during the period. Burgundy Asset Management Ltd.’s holdings in Wabtec were worth $139,084,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Colonial Trust Advisors raised its holdings in Wabtec by 454.5% in the 2nd quarter. Colonial Trust Advisors now owns 122 shares of the transportation company’s stock worth $26,000 after acquiring an additional 100 shares during the last quarter. Piscataqua Savings Bank increased its holdings in shares of Wabtec by 12,800.0% in the 3rd quarter. Piscataqua Savings Bank now owns 129 shares of the transportation company’s stock worth $26,000 after purchasing an additional 128 shares in the last quarter. Motco raised its stake in shares of Wabtec by 6,600.0% in the third quarter. Motco now owns 134 shares of the transportation company’s stock worth $27,000 after purchasing an additional 132 shares during the last quarter. Salomon & Ludwin LLC lifted its holdings in shares of Wabtec by 370.6% during the third quarter. Salomon & Ludwin LLC now owns 160 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 126 shares in the last quarter. Finally, North Capital Inc. boosted its position in shares of Wabtec by 18,900.0% during the third quarter. North Capital Inc. now owns 190 shares of the transportation company’s stock valued at $38,000 after buying an additional 189 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Morgan Stanley reiterated an “overweight” rating and issued a $315.00 price objective on shares of Wabtec in a report on Tuesday, February 17th. Wall Street Zen upgraded shares of Wabtec from a “hold” rating to a “buy” rating in a research note on Monday. Stephens boosted their price objective on shares of Wabtec from $230.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, February 12th. Bank of America increased their price objective on shares of Wabtec from $228.00 to $233.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Finally, Wells Fargo & Company lifted their target price on shares of Wabtec from $224.00 to $270.00 and gave the stock an “equal weight” rating in a research report on Friday, February 13th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $269.00.

Insider Activity at Wabtec

In related news, insider Rogerio Mendonca sold 3,500 shares of the company’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $264.21, for a total value of $924,735.00. Following the completion of the transaction, the insider owned 10,101 shares of the company’s stock, valued at approximately $2,668,785.21. This represents a 25.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Sameer Gaur sold 1,150 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $262.62, for a total value of $302,013.00. Following the completion of the sale, the insider owned 12,017 shares of the company’s stock, valued at $3,155,904.54. The trade was a 8.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 33,192 shares of company stock worth $8,379,272 in the last 90 days. Insiders own 1.10% of the company’s stock.

Wabtec Price Performance

Shares of Wabtec stock opened at $260.73 on Thursday. The stock has a market cap of $44.46 billion, a P/E ratio of 38.17, a P/E/G ratio of 1.97 and a beta of 0.99. 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 stock’s fifty day moving average is $238.44 and its 200 day moving average is $213.82. Wabtec has a one year low of $151.81 and a one year high of $266.27.

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

Wabtec Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Tuesday, February 17th were issued a $0.31 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $1.24 annualized dividend and a yield of 0.5%. This is a positive change from Wabtec’s previous quarterly dividend of $0.25. Wabtec’s payout ratio is currently 18.16%.

Wabtec announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 11th that allows the company to buyback $1.20 billion in outstanding shares. This buyback authorization allows the transportation company to reacquire up to 2.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

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.