Bridgefront Capital LLC Purchases 2,674 Shares of Wabtec $WAB

Bridgefront Capital LLC boosted its position in shares of Wabtec (NYSE:WAB) by 76.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,166 shares of the transportation company’s stock after purchasing an additional 2,674 shares during the quarter. Bridgefront Capital LLC’s holdings in Wabtec were worth $1,236,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. CI Investments Inc. lifted its holdings 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 buying an additional 50 shares during the period. Quadrant Capital Group LLC increased its stake in shares of Wabtec by 1.3% during the third quarter. Quadrant Capital Group LLC now owns 4,082 shares of the transportation company’s stock valued at $818,000 after buying an additional 54 shares during the period. Wedmont Private Capital raised its holdings in shares of Wabtec by 2.6% in the third quarter. Wedmont Private Capital now owns 2,246 shares of the transportation company’s stock valued at $444,000 after acquiring an additional 56 shares in the last quarter. OFI Invest Asset Management raised its holdings in shares of Wabtec by 10.0% in the third quarter. OFI Invest Asset Management now owns 625 shares of the transportation company’s stock valued at $125,000 after acquiring an additional 57 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted 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 worth $204,000 after acquiring an additional 59 shares during the period. 91.69% of the stock is owned by institutional investors.

Wabtec Price Performance

WAB opened at $236.60 on Friday. The business’s 50-day moving average is $242.37 and its two-hundred day moving average is $216.34. Wabtec has a 1 year low of $151.81 and a 1 year high of $266.27. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.11 and a quick ratio of 0.57. The firm has a market capitalization of $40.34 billion, a PE ratio of 34.64, a price-to-earnings-growth ratio of 1.79 and a beta of 0.99.

Wabtec (NYSE:WAB) last released its quarterly earnings results on Wednesday, February 11th. The transportation company reported $2.10 EPS for the quarter, beating the consensus estimate of $2.08 by $0.02. Wabtec had a net margin of 10.48% and a return on equity of 14.12%. The business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.86 billion. During the same period in the prior year, the firm posted $1.68 earnings per share. The company’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. Research analysts anticipate that Wabtec will post 8.54 earnings per share for the current fiscal year.

Wabtec declared that its Board of Directors has initiated a stock buyback 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 purchase up to 2.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

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 given a dividend of $0.31 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This is a positive change from Wabtec’s previous quarterly dividend of $0.25. This represents a $1.24 dividend on an annualized basis and a yield of 0.5%. Wabtec’s dividend payout ratio is currently 18.16%.

Insider Activity at Wabtec

In other Wabtec news, EVP Gina Trombley sold 4,013 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $241.87, for a total value of $970,624.31. Following the completion of the sale, the executive vice president directly owned 13,841 shares in the company, valued at $3,347,722.67. This trade represents a 22.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John A. Olin sold 11,000 shares of Wabtec stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $263.30, for a total transaction of $2,896,300.00. Following the completion of the transaction, the chief financial officer directly owned 60,487 shares in the company, valued at $15,926,227.10. This represents a 15.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 33,310 shares of company stock valued at $8,541,509 over the last three months. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on WAB. JPMorgan Chase & Co. increased their target price on shares of Wabtec from $215.00 to $245.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Stephens boosted their price target on shares of Wabtec from $230.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, February 12th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wabtec in a research report on Wednesday, January 21st. Susquehanna set a $300.00 price objective on shares of Wabtec in a report on Thursday, February 12th. Finally, KeyCorp boosted their price objective on shares of Wabtec from $240.00 to $308.00 and gave the stock an “overweight” rating in a research note on Thursday, February 12th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $269.00.

About Wabtec

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.