Exchange Traded Concepts LLC Boosts Stock Holdings in Wabtec $WAB

Exchange Traded Concepts LLC raised its stake in Wabtec (NYSE:WAB) by 897.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,502 shares of the transportation company’s stock after purchasing an additional 13,948 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Wabtec were worth $3,309,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. CI Investments Inc. raised its position in shares of Wabtec by 6.1% in the 3rd quarter. CI Investments Inc. now owns 865 shares of the transportation company’s stock worth $173,000 after buying an additional 50 shares during the period. Quadrant Capital Group LLC grew its position in Wabtec by 1.3% during the third quarter. Quadrant Capital Group LLC now owns 4,082 shares of the transportation company’s stock valued at $818,000 after acquiring an additional 54 shares during the period. Wedmont Private Capital increased its stake in Wabtec by 2.6% during the third quarter. Wedmont Private Capital now owns 2,246 shares of the transportation company’s stock worth $444,000 after acquiring an additional 56 shares during the last quarter. True Wealth Design LLC increased its stake in Wabtec by 13.9% during the fourth quarter. True Wealth Design LLC now owns 460 shares of the transportation company’s stock worth $98,000 after acquiring an additional 56 shares during the last quarter. Finally, OFI Invest Asset Management raised its holdings in shares of Wabtec by 10.0% in the 3rd quarter. OFI Invest Asset Management now owns 625 shares of the transportation company’s stock worth $125,000 after purchasing an additional 57 shares during the period. 91.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WAB has been the topic of several research analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $290.00 price objective (down from $300.00) on shares of Wabtec in a research note on Tuesday. Wall Street Zen downgraded shares of Wabtec from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Citigroup raised their price target on shares of Wabtec from $258.00 to $283.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Rothschild & Co Redburn raised shares of Wabtec from a “neutral” rating to a “buy” rating and lifted their price target for the company from $262.00 to $285.00 in a research report on Thursday, March 26th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Wabtec from $215.00 to $245.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Ten research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $272.08.

Wabtec Stock Performance

Shares of NYSE:WAB opened at $250.00 on Wednesday. The business’s 50-day simple moving average is $246.37 and its 200 day simple moving average is $220.68. The company has a market cap of $42.63 billion, a P/E ratio of 36.60, a PEG ratio of 1.79 and a beta of 0.99. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.57 and a current ratio of 1.11. Wabtec has a one year low of $151.81 and a one year high of $266.27.

Wabtec (NYSE:WAB) last released its quarterly earnings results on Wednesday, February 11th. The transportation company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.02. The firm had revenue of $2.97 billion during 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%.Wabtec’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.68 EPS. Wabtec has set its FY 2026 guidance at 10.050-10.450 EPS. On average, sell-side analysts forecast that Wabtec will post 8.54 earnings per share for the current fiscal year.

Wabtec Increases Dividend

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

Wabtec announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 11th that authorizes the company to repurchase $1.20 billion in shares. This repurchase authorization authorizes the transportation company to buy up to 2.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, insider Rogerio Mendonca sold 3,500 shares of the stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $264.21, for a total value of $924,735.00. Following the completion of the transaction, the insider owned 10,101 shares of the company’s stock, valued at approximately $2,668,785.21. This represents a 25.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Nalin Jain sold 7,936 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $264.09, for a total value of $2,095,818.24. Following the sale, the insider owned 6,364 shares of the company’s stock, valued at approximately $1,680,668.76. This trade represents a 55.50% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 31,512 shares of company stock valued at $8,160,028. Insiders own 1.10% of the company’s stock.

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.