Assetmark Inc. Decreases Holdings in Wabtec $WAB

Assetmark Inc. decreased its holdings in Wabtec (NYSE:WAB) by 74.8% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,072 shares of the transportation company’s stock after selling 6,164 shares during the period. Assetmark Inc.’s holdings in Wabtec were worth $415,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in WAB. Vanguard Group Inc. lifted its stake in Wabtec by 2.5% in the second quarter. Vanguard Group Inc. now owns 19,930,893 shares of the transportation company’s stock worth $4,172,532,000 after purchasing an additional 493,437 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Wabtec by 0.7% in the second quarter. Geode Capital Management LLC now owns 4,288,014 shares of the transportation company’s stock worth $893,830,000 after buying an additional 30,489 shares during the period. Boston Partners lifted its stake in shares of Wabtec by 9.0% in the 2nd quarter. Boston Partners now owns 2,261,456 shares of the transportation company’s stock valued at $471,410,000 after acquiring an additional 186,248 shares during the last quarter. Nordea Investment Management AB boosted its holdings in Wabtec by 24.0% during the 3rd quarter. Nordea Investment Management AB now owns 1,974,257 shares of the transportation company’s stock valued at $393,252,000 after acquiring an additional 381,728 shares during the period. Finally, Norges Bank purchased a new stake in Wabtec during the 2nd quarter valued at about $347,194,000. Institutional investors own 91.69% of the company’s stock.

Insider Activity

In related news, EVP Gregory Sbrocco sold 952 shares of Wabtec stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $258.43, for a total transaction of $246,025.36. Following the completion of the transaction, the executive vice president directly owned 21,159 shares of the company’s stock, valued at $5,468,120.37. This trade represents a 4.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Rogerio Mendonca sold 2,019 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $214.51, for a total transaction of $433,095.69. Following the sale, the insider directly owned 9,516 shares in the company, valued at $2,041,277.16. The trade was a 17.50% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 16,625 shares of company stock worth $3,666,601. 1.10% of the stock is currently owned by corporate insiders.

Wabtec Price Performance

Shares of NYSE WAB opened at $264.70 on Friday. Wabtec has a 1 year low of $151.81 and a 1 year high of $265.88. The stock has a market capitalization of $45.14 billion, a P/E ratio of 38.76, a P/E/G ratio of 2.00 and a beta of 1.01. The company’s 50-day moving average is $231.02 and its 200 day moving average is $209.79. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.11 and a quick ratio of 0.57.

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

Wabtec declared that its board has authorized a share buyback plan on Wednesday, February 11th that authorizes the company to buyback $1.20 billion in shares. This buyback authorization authorizes the transportation company to reacquire up to 2.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Wabtec Increases Dividend

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

Analyst Ratings Changes

Several analysts have weighed in on WAB shares. Citigroup boosted their price objective on Wabtec from $258.00 to $283.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Wolfe Research upgraded shares of Wabtec from a “peer perform” rating to an “outperform” rating and set a $245.00 price target for the company in a report on Thursday, January 8th. Bank of America raised their price target on shares of Wabtec from $228.00 to $233.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Susquehanna set a $300.00 price objective on shares of Wabtec in a research report on Thursday, February 12th. Finally, Morgan Stanley reiterated 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $269.00.

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.