Wabtec $WAB Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D increased its holdings in Wabtec (NYSE:WAB) by 6.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,812 shares of the transportation company’s stock after purchasing an additional 3,542 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Wabtec were worth $11,991,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Colonial Trust Advisors boosted its stake 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 buying an additional 100 shares during the last quarter. Piscataqua Savings Bank increased its stake in shares of Wabtec by 12,800.0% during the 3rd quarter. Piscataqua Savings Bank now owns 129 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 128 shares during the last quarter. Motco lifted its holdings in shares of Wabtec by 6,600.0% during the 3rd quarter. Motco now owns 134 shares of the transportation company’s stock worth $27,000 after acquiring an additional 132 shares during the period. Salomon & Ludwin LLC boosted its position in shares of Wabtec by 370.6% in the third quarter. Salomon & Ludwin LLC now owns 160 shares of the transportation company’s stock worth $32,000 after acquiring an additional 126 shares during the last quarter. Finally, North Capital Inc. boosted its position in shares of Wabtec by 18,900.0% in the third quarter. North Capital Inc. now owns 190 shares of the transportation company’s stock worth $38,000 after acquiring an additional 189 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WAB has been the subject of several research analyst reports. Citigroup upped their price target on shares of Wabtec from $258.00 to $283.00 and gave the stock a “buy” rating in a research report on Thursday. Wolfe Research upgraded Wabtec from a “peer perform” rating to an “outperform” rating and set a $245.00 price objective for the company in a report on Thursday, January 8th. Stephens increased their target price on Wabtec from $230.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, February 12th. Susquehanna set a $300.00 price target on Wabtec in a research report on Thursday. Finally, KeyCorp raised their price objective on Wabtec from $240.00 to $308.00 and gave the stock an “overweight” rating in a report on Thursday. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Wabtec presently has an average rating of “Moderate Buy” and a consensus target price of $263.90.

Wabtec Stock Up 1.1%

Shares of NYSE WAB opened at $256.68 on Tuesday. The stock has a fifty day moving average price of $227.26 and a 200 day moving average price of $207.87. The company has a market cap of $43.88 billion, a P/E ratio of 37.58, a P/E/G ratio of 1.94 and a beta of 1.01. Wabtec has a 12-month low of $151.81 and a 12-month high of $262.40. The company has a current ratio of 1.11, a quick ratio of 0.57 and a debt-to-equity ratio of 0.38.

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

Wabtec Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Tuesday, February 17th will be paid a dividend of $0.31 per share. This is a positive change from Wabtec’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $1.24 annualized dividend and a yield of 0.5%. Wabtec’s payout ratio is presently 14.64%.

Wabtec declared that its board has approved a share buyback plan on Wednesday, February 11th that authorizes the company to buyback $1.20 billion in outstanding shares. This buyback authorization authorizes the transportation company to purchase up to 2.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, VP David L. Deninno sold 5,000 shares of Wabtec stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $214.62, for a total transaction of $1,073,100.00. Following the sale, the vice president directly owned 50,450 shares of the company’s stock, valued at approximately $10,827,579. The trade was a 9.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Rogerio Mendonca sold 2,019 shares of the stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $214.51, for a total value of $433,095.69. Following the completion of the transaction, the insider directly owned 9,516 shares of the company’s stock, valued at $2,041,277.16. This represents a 17.50% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 15,673 shares of company stock valued at $3,420,576. Corporate insiders own 1.10% of the company’s stock.

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.