Connor Clark & Lunn Investment Management Ltd. Sells 134,264 Shares of Wabtec $WAB

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in shares of Wabtec (NYSE:WAB) by 73.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,019 shares of the transportation company’s stock after selling 134,264 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Wabtec were worth $12,946,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Welch & Forbes LLC increased its position in shares of Wabtec by 1.8% during the second quarter. Welch & Forbes LLC now owns 2,050 shares of the transportation company’s stock worth $553,000 after acquiring an additional 36 shares in the last quarter. Meeder Advisory Services Inc. lifted its position in Wabtec by 1.6% in the 1st quarter. Meeder Advisory Services Inc. now owns 2,471 shares of the transportation company’s stock valued at $618,000 after acquiring an additional 38 shares in the last quarter. Hilltop Holdings Inc. lifted its position in Wabtec by 3.9% in the 4th quarter. Hilltop Holdings Inc. now owns 1,069 shares of the transportation company’s stock valued at $228,000 after acquiring an additional 40 shares in the last quarter. Apollon Wealth Management LLC boosted its stake in Wabtec by 1.6% during the 1st quarter. Apollon Wealth Management LLC now owns 3,081 shares of the transportation company’s stock valued at $770,000 after purchasing an additional 48 shares during the last quarter. Finally, IHT Wealth Management LLC boosted its stake in Wabtec by 1.0% during the 4th quarter. IHT Wealth Management LLC now owns 4,856 shares of the transportation company’s stock valued at $1,037,000 after purchasing an additional 50 shares during the last quarter. 91.69% of the stock is owned by institutional investors.

Insider Buying and Selling at Wabtec

In other Wabtec news, insider Michael Fetsko sold 3,250 shares of the company’s stock in a transaction on 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 in the company, valued at $10,960,563.60. This represents a 8.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Rafael Santana sold 1,163 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $299.04, for a total value of $347,783.52. Following the sale, the chief executive officer directly owned 120,588 shares of the company’s stock, valued at approximately $36,060,635.52. This represents a 0.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 21,036 shares of company stock valued at $6,113,542 in the last ninety days. 0.57% of the stock is owned by corporate insiders.

Wabtec Trading Down 0.2%

Shares of WAB stock opened at $297.10 on Wednesday. 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 company has a market capitalization of $50.18 billion, a price-to-earnings ratio of 39.93, a PEG ratio of 2.02 and a beta of 0.93. Wabtec has a 52-week low of $184.26 and a 52-week high of $306.64. The company has a 50-day simple moving average of $281.28 and a two-hundred day simple moving average of $265.84.

Wabtec (NYSE:WAB) last posted its earnings results on Wednesday, July 22nd. The transportation company reported $2.76 EPS for the quarter, topping the consensus estimate of $2.60 by $0.16. Wabtec had a net margin of 10.59% and a return on equity of 15.10%. The firm had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.07 billion. During the same quarter last year, the firm earned $2.27 EPS. The company’s quarterly 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. Research analysts anticipate that Wabtec will post 10.86 EPS for the current fiscal year.

Wabtec Announces Dividend

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

Wall Street Analyst Weigh In

WAB has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price objective on Wabtec from $300.00 to $315.00 and gave the stock a “neutral” rating in a research note on Thursday, July 23rd. Wells Fargo & Company lifted their target price on Wabtec from $284.00 to $315.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Wabtec in a report on Friday, July 17th. Morgan Stanley upped their price target on Wabtec from $318.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Finally, Wall Street Zen lowered Wabtec from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Wabtec presently has a consensus rating of “Moderate Buy” and a consensus price target of $313.36.

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.