Wabtec $WAB Stock Bought by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. grew its stake in Wabtec (NYSE:WAB) by 490.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,793 shares of the transportation company’s stock after purchasing an additional 27,243 shares during the period. Wabtec makes up about 1.2% of Contravisory Investment Management Inc.’s portfolio, making the stock its 23rd biggest position. Contravisory Investment Management Inc.’s holdings in Wabtec were worth $9,417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of WAB. NorthCrest Asset Manangement LLC raised its holdings in Wabtec by 4.9% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 2,735 shares of the transportation company’s stock valued at $768,000 after buying an additional 127 shares during the period. Wedmont Private Capital boosted its stake in Wabtec by 25.6% during the third quarter. Wedmont Private Capital now owns 3,156 shares of the transportation company’s stock worth $886,000 after buying an additional 644 shares during the period. Mn Services Vermogensbeheer B.V. boosted its stake in Wabtec by 2.4% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 50,445 shares of the transportation company’s stock worth $14,487,000 after buying an additional 1,200 shares during the period. GAMMA Investing LLC boosted its stake in Wabtec by 12.7% during the third quarter. GAMMA Investing LLC now owns 5,814 shares of the transportation company’s stock worth $1,670,000 after buying an additional 654 shares during the period. Finally, Farther Finance Advisors LLC increased its position in Wabtec by 23.5% during the third quarter. Farther Finance Advisors LLC now owns 5,162 shares of the transportation company’s stock valued at $1,483,000 after acquiring an additional 982 shares during the last quarter. 91.69% of the stock is owned by institutional investors.

Wabtec Stock Up 0.2%

WAB stock traded up $0.56 during trading on Tuesday, hitting $286.33. 960,465 shares of the company’s stock traded hands, compared to its average volume of 905,670. The firm has a market capitalization of $48.36 billion, a P/E ratio of 38.49, a PEG ratio of 1.93 and a beta of 0.92. Wabtec has a 1 year low of $186.06 and a 1 year high of $306.64. The company has a quick ratio of 0.59, a current ratio of 1.12 and a debt-to-equity ratio of 0.44. The business has a fifty day simple moving average of $289.05 and a two-hundred day simple moving average of $274.13.

Wabtec (NYSE:WAB) last posted its earnings results on Wednesday, July 22nd. The transportation company reported $2.76 earnings per share for the quarter, topping analysts’ consensus estimates of $2.60 by $0.16. The company had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.07 billion. Wabtec had a return on equity of 15.10% and a net margin of 10.59%. Wabtec’s revenue was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.27 earnings per share. Wabtec has set its FY 2026 guidance at 10.600-10.900 EPS. Sell-side analysts anticipate that Wabtec will post 10.89 EPS for the current year.

Wabtec Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Tuesday, August 18th. Wabtec’s payout ratio is presently 16.67%.

Insider Transactions at Wabtec

In other Wabtec news, CTO Eric Gebhardt sold 7,100 shares of Wabtec stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $299.27, for a total value of $2,124,817.00. Following the transaction, the chief technology officer owned 19,153 shares in the company, valued at $5,731,918.31. The trade was a 27.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Fetsko sold 3,250 shares of Wabtec stock in a transaction dated Thursday, August 20th. The shares were 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 trade represents a 8.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 17,552 shares of company stock worth $5,232,911. Company insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on WAB shares. Wall Street Zen downgraded shares of Wabtec from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Susquehanna raised their price objective on Wabtec from $305.00 to $340.00 and gave the stock a “positive” rating in a report on Thursday, July 23rd. Morgan Stanley lifted their target price on Wabtec from $318.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Weiss Ratings raised Wabtec from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday. Finally, Stephens upped their target price on Wabtec from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $313.55.

About Wabtec

Wabtec Corporation, also known as Westinghouse Air Brake Technologies Corporation, provides equipment, systems, software and services for the global rail and transit industries. Its offerings support freight railroads, passenger rail operators, transit agencies, mining companies and other transportation customers.

The company manufactures and services locomotives, locomotive engines, braking systems, electronic and control equipment, train components, signaling and communications systems, and digital technologies designed to improve rail safety, efficiency and asset management.