PointState Capital LP Purchases 37,799 Shares of Wabtec $WAB

PointState Capital LP boosted its holdings in shares of Wabtec (NYSE:WAB) by 6.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 638,455 shares of the transportation company’s stock after buying an additional 37,799 shares during the quarter. Wabtec makes up approximately 2.2% of PointState Capital LP’s investment portfolio, making the stock its 12th largest position. PointState Capital LP owned approximately 0.38% of Wabtec worth $172,127,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of WAB. Guggenheim Capital LLC increased its holdings in shares of Wabtec by 7.4% during the 2nd quarter. Guggenheim Capital LLC now owns 4,938 shares of the transportation company’s stock worth $1,034,000 after acquiring an additional 342 shares during the last quarter. Bank of Nova Scotia lifted its holdings in Wabtec by 0.5% during the 2nd quarter. Bank of Nova Scotia now owns 17,890 shares of the transportation company’s stock valued at $3,745,000 after purchasing an additional 97 shares during the last quarter. Nebula Research & Development LLC lifted its holdings in Wabtec by 208.7% during the 2nd quarter. Nebula Research & Development LLC now owns 5,386 shares of the transportation company’s stock valued at $1,128,000 after purchasing an additional 3,641 shares during the last quarter. Treasurer of the State of North Carolina boosted its position in Wabtec by 11.6% during the second quarter. Treasurer of the State of North Carolina now owns 92,097 shares of the transportation company’s stock worth $19,281,000 after purchasing an additional 9,545 shares during the period. Finally, Ieq Capital LLC increased its holdings in shares of Wabtec by 19.2% in the second quarter. Ieq Capital LLC now owns 30,352 shares of the transportation company’s stock valued at $6,354,000 after purchasing an additional 4,889 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

Wabtec Trading Up 1.2%

Shares of WAB stock opened at $300.63 on Thursday. The stock has a market cap of $50.78 billion, a P/E ratio of 40.41, a price-to-earnings-growth ratio of 2.01 and a beta of 0.93. Wabtec has a 1 year low of $184.26 and a 1 year high of $306.64. The company has a current ratio of 1.12, a quick ratio of 0.59 and a debt-to-equity ratio of 0.44. The stock has a 50 day simple moving average of $281.85 and a 200 day simple moving average of $266.27.

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

Wabtec Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be given 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 payout ratio is presently 16.67%.

Insider Activity at Wabtec

In other news, CEO Rafael Santana sold 1,163 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $299.04, for a total transaction of $347,783.52. Following the completion of the sale, the chief executive officer owned 120,588 shares of the company’s stock, valued at approximately $36,060,635.52. This represents a 0.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Fetsko sold 3,250 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $293.22, for a total transaction of $952,965.00. Following the sale, 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 disclosure for this sale is available in the SEC filing. Insiders have sold a total of 21,036 shares of company stock worth $6,113,542 in the last 90 days. Corporate insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on WAB shares. JPMorgan Chase & Co. raised their target price on shares of Wabtec from $300.00 to $315.00 and gave the stock a “neutral” rating in a research note on Thursday, July 23rd. KeyCorp increased their price target on shares of Wabtec from $308.00 to $340.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Wells Fargo & Company boosted their price objective on Wabtec from $284.00 to $315.00 and gave the stock an “equal weight” rating in a report on Thursday, July 23rd. Susquehanna upped their target price on Wabtec from $305.00 to $340.00 and gave the company a “positive” rating in a research report on Thursday, July 23rd. Finally, Morgan Stanley increased their target price on Wabtec from $318.00 to $355.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Wabtec has a consensus rating of “Moderate Buy” and an average 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.