CenterBook Partners LP Makes New Investment in Wabtec $WAB

CenterBook Partners LP purchased a new stake in shares of Wabtec (NYSE:WAB) in the third quarter, according to its most recent 13F filing with the SEC. The fund purchased 5,750 shares of the transportation company’s stock, valued at approximately $1,153,000.

Several other institutional investors have also recently made changes to their positions in the company. Empowered Funds LLC boosted its position in 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 holdings in Wabtec by 39.5% during the 2nd quarter. Varenne Capital Partners now owns 277,078 shares of the transportation company’s stock valued at $58,006,000 after purchasing an additional 78,394 shares during the period. Quantbot Technologies LP bought a new stake in shares of Wabtec in the 2nd quarter worth approximately $9,371,000. Varma Mutual Pension Insurance Co raised its holdings in Wabtec by 9.1% in the 3rd quarter. Varma Mutual Pension Insurance Co now owns 47,924 shares of the transportation company’s stock worth $9,607,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Mediolanum International Funds Ltd purchased a new position in shares of Wabtec during the second quarter valued at about $8,201,000. Institutional investors own 91.69% of the company’s stock.

Insider Activity

In related news, insider Michael Fetsko sold 5,058 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $215.72, for a total value of $1,091,111.76. Following the transaction, the insider directly owned 36,882 shares of the company’s stock, valued at approximately $7,956,185.04. This represents a 12.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP David L. Deninno sold 5,000 shares of the stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $214.62, for a total value of $1,073,100.00. Following the sale, the vice president owned 50,450 shares in the company, valued at approximately $10,827,579. This represents a 9.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 16,625 shares of company stock valued at $3,666,601. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

WAB has been the topic of several research reports. KeyCorp lifted their price objective on Wabtec from $240.00 to $308.00 and gave the company an “overweight” rating in a research report on Thursday, February 12th. Citigroup lifted their price target on Wabtec from $258.00 to $283.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Wells Fargo & Company upped their price target on Wabtec from $224.00 to $270.00 and gave the stock an “equal weight” rating in a research note on Friday, February 13th. Stephens raised their price objective on Wabtec from $230.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday, February 12th. Finally, Morgan Stanley restated an “overweight” rating and set a $315.00 target price on shares of Wabtec in a report on Tuesday. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Wabtec has a consensus rating of “Moderate Buy” and a consensus target price of $269.00.

Wabtec Stock Up 1.1%

Shares of NYSE:WAB opened at $264.70 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.57 and a debt-to-equity ratio of 0.38. The stock has a fifty day simple moving average of $231.02 and a two-hundred day simple moving average of $209.65. Wabtec has a 12-month low of $151.81 and a 12-month high of $265.88. The stock has a market capitalization of $45.14 billion, a price-to-earnings ratio of 38.76, a PEG ratio of 1.98 and a beta of 1.01.

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

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

Wabtec Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Tuesday, February 17th will be paid a $0.31 dividend. This is a boost from Wabtec’s previous quarterly dividend of $0.25. This represents a $1.24 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Tuesday, February 17th. Wabtec’s payout ratio is currently 18.16%.

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.