Hsbc Holdings PLC Trims Stake in Wabtec $WAB

Hsbc Holdings PLC cut its position in shares of Wabtec (NYSE:WAB) by 3.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 338,531 shares of the transportation company’s stock after selling 13,238 shares during the period. Hsbc Holdings PLC owned about 0.20% of Wabtec worth $91,265,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Wabtec during the 2nd quarter worth $3,741,077,000. Norges Bank bought a new stake in shares of Wabtec in the fourth quarter valued at about $409,039,000. Price T Rowe Associates Inc. MD lifted its stake in Wabtec by 20.3% in 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 period. Bank of New York Mellon Corp purchased a new stake in Wabtec in the second quarter worth about $212,692,000. Finally, Deutsche Bank AG bought a new position in Wabtec during the 2nd quarter worth about $207,228,000. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Wabtec Stock Performance

Shares of Wabtec stock opened at $300.63 on Thursday. The company has a market capitalization of $50.78 billion, a PE ratio of 40.41, a P/E/G ratio of 2.01 and a beta of 0.93. The company has a 50-day simple moving average of $281.85 and a two-hundred day simple moving average of $266.27. Wabtec has a one year low of $184.26 and a one year high of $306.64. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.59 and a current ratio of 1.12.

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

Wabtec Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, August 18th. Wabtec’s payout ratio is currently 16.67%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Wall Street Zen downgraded shares of Wabtec from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Citigroup upped their price target on shares of Wabtec from $311.00 to $341.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Weiss Ratings reiterated a “buy (b)” rating on shares of Wabtec in a research note on Friday, July 17th. Morgan Stanley lifted their price objective on shares of Wabtec from $318.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Finally, KeyCorp boosted their price objective on shares of Wabtec from $308.00 to $340.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $313.36.

Insiders Place Their Bets

In other news, insider Sameer Gaur sold 1,082 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $263.50, for a total value of $285,107.00. Following the completion of the sale, the insider owned 11,985 shares of the company’s stock, valued at $3,158,047.50. This trade represents a 8.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David L. Deninno sold 3,000 shares of the business’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $301.31, for a total value of $903,930.00. Following the transaction, the vice president owned 55,128 shares in the company, valued at approximately $16,610,617.68. This trade represents a 5.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 21,036 shares of company stock valued at $6,113,542. 0.57% of the stock is currently owned by company insiders.

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.