Cornerstone Advisors LLC Makes New Investment in Wabtec $WAB

Cornerstone Advisors LLC bought a new stake in Wabtec (NYSE:WAB) in the second quarter, HoldingsChannel.com reports. The fund bought 24,833 shares of the transportation company’s stock, valued at approximately $6,695,000.

Other institutional investors also recently made changes to their positions in the company. Whipplewood Advisors LLC acquired a new stake in shares of Wabtec during the 1st quarter worth approximately $25,000. Clal Insurance Enterprises Holdings Ltd boosted its position in Wabtec by 125.9% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 131 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 73 shares during the period. Manchester Capital Management LLC boosted its position in Wabtec by 122.0% during the 4th quarter. Manchester Capital Management LLC now owns 131 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 72 shares during the period. Bell Investment Advisors Inc bought a new position in Wabtec during the 2nd quarter worth $29,000. Finally, McMillan Office Inc. bought a new position in Wabtec during the 4th quarter worth $31,000. 91.69% of the stock is owned by institutional investors.

Insider Activity at Wabtec

In other Wabtec news, VP David L. Deninno sold 3,000 shares of the stock in a transaction on 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 transaction, the vice president directly owned 55,128 shares of the company’s stock, valued at approximately $16,610,617.68. This trade represents a 5.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Eric Gebhardt sold 7,100 shares of Wabtec stock in a transaction on Friday, July 24th. The shares were sold at an average price of $299.27, for a total value of $2,124,817.00. Following the transaction, the chief technology officer owned 19,153 shares in the company, valued at approximately $5,731,918.31. This trade represents a 27.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 16,834 shares of company stock worth $4,874,977 over the last ninety days. Insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on WAB. Wall Street Zen cut Wabtec from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Morgan Stanley upped their price target on shares of Wabtec from $318.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Wolfe Research reaffirmed an “outperform” rating and issued a $303.00 price objective on shares of Wabtec in a report on Thursday, April 23rd. KeyCorp lifted their price objective on shares of Wabtec from $308.00 to $340.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Finally, Citigroup upped their target price on shares of Wabtec from $311.00 to $341.00 and gave the stock a “buy” rating in a research report on Thursday. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $313.36.

Wabtec Price Performance

Shares of WAB opened at $301.19 on Tuesday. Wabtec has a one year low of $184.26 and a one year high of $306.64. The stock’s fifty day moving average is $277.63 and its 200-day moving average is $263.23. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.59 and a current ratio of 1.12. The firm has a market capitalization of $50.87 billion, a price-to-earnings ratio of 40.48, a price-to-earnings-growth ratio of 2.03 and a beta of 0.93.

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

Wabtec Dividend Announcement

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

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.