Wabtec $WAB Holdings Boosted by Russell Investments Group Ltd.

Russell Investments Group Ltd. raised its position in shares of Wabtec (NYSE:WAB) by 4.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 328,726 shares of the transportation company’s stock after acquiring an additional 14,574 shares during the period. Russell Investments Group Ltd.’s holdings in Wabtec were worth $65,860,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Empowered Funds LLC boosted its stake in shares of Wabtec by 240.8% during the 2nd quarter. Empowered Funds LLC now owns 15,924 shares of the transportation company’s stock valued at $3,334,000 after buying an additional 11,252 shares during the period. Varenne Capital Partners increased its stake in shares of Wabtec by 39.5% in the second quarter. Varenne Capital Partners now owns 277,078 shares of the transportation company’s stock worth $58,006,000 after acquiring an additional 78,394 shares during the last quarter. Varma Mutual Pension Insurance Co raised its holdings in shares of Wabtec by 9.1% during the third quarter. Varma Mutual Pension Insurance Co now owns 47,924 shares of the transportation company’s stock worth $9,607,000 after acquiring an additional 4,000 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Wabtec during the second quarter worth $9,371,000. Finally, Mediolanum International Funds Ltd acquired a new stake in Wabtec during the second quarter valued at $8,201,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

Insiders Place Their Bets

In other Wabtec news, insider Nalin Jain sold 7,936 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $264.09, for a total transaction of $2,095,818.24. Following the transaction, the insider owned 6,364 shares in the company, valued at $1,680,668.76. This trade represents a 55.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael Fetsko sold 5,058 shares of Wabtec stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $215.72, for a total transaction of $1,091,111.76. Following the completion of the transaction, the insider directly owned 36,882 shares in the company, valued at approximately $7,956,185.04. This represents a 12.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 33,192 shares of company stock worth $8,379,272 in the last three months. 1.10% of the stock is owned by insiders.

Wabtec Trading Down 0.2%

Shares of NYSE:WAB opened at $246.53 on Wednesday. The stock has a market capitalization of $42.04 billion, a PE ratio of 36.09, a P/E/G ratio of 1.86 and a beta of 0.99. Wabtec has a 1 year low of $151.81 and a 1 year high of $266.27. The firm has a fifty day moving average price of $240.77 and a 200 day moving average price of $215.52. 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 posted its earnings results on Wednesday, February 11th. The transportation company reported $2.10 EPS for the quarter, topping 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 firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.86 billion. During the same period in the prior year, the business posted $1.68 earnings per share. The business’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. Analysts expect that Wabtec will post 8.54 EPS for the current fiscal year.

Wabtec announced that its board has initiated a stock buyback program on Wednesday, February 11th that permits the company to buyback $1.20 billion in shares. This buyback authorization permits the transportation company to repurchase up to 2.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Wabtec Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 17th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.5%. This is a positive change from Wabtec’s previous quarterly dividend of $0.25. Wabtec’s payout ratio is currently 18.16%.

Wall Street Analysts Forecast Growth

WAB has been the topic of a number of recent research reports. Stephens boosted their target price on Wabtec from $230.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, February 12th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wabtec in a research note on Wednesday, January 21st. Bank of America lifted their price target on Wabtec from $228.00 to $233.00 and gave the company a “buy” rating in a report on Thursday, November 13th. JPMorgan Chase & Co. increased their price objective on Wabtec from $215.00 to $245.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Finally, Wells Fargo & Company raised their price objective on shares of Wabtec from $224.00 to $270.00 and gave the company an “equal weight” rating in a research report on Friday, February 13th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $269.00.

Wabtec 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.