Wabtec $WAB Shares Sold by Circle Wealth Management LLC

Circle Wealth Management LLC reduced its stake in shares of Wabtec (NYSE:WAB) by 47.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,732 shares of the transportation company’s stock after selling 2,453 shares during the quarter. Circle Wealth Management LLC’s holdings in Wabtec were worth $548,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in WAB. Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in shares of Wabtec by 1.9% during the third quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 65,829 shares of the transportation company’s stock valued at $13,197,000 after acquiring an additional 1,213 shares during the period. Bridgefront Capital LLC increased its holdings in shares of Wabtec by 76.6% in the 3rd quarter. Bridgefront Capital LLC now owns 6,166 shares of the transportation company’s stock worth $1,236,000 after acquiring an additional 2,674 shares during the period. California Public Employees Retirement System increased its holdings in shares of Wabtec by 3.0% in the 3rd quarter. California Public Employees Retirement System now owns 370,501 shares of the transportation company’s stock worth $74,274,000 after acquiring an additional 10,702 shares during the period. Bank of Nova Scotia lifted its position in Wabtec by 17.7% in the 3rd quarter. Bank of Nova Scotia now owns 21,061 shares of the transportation company’s stock valued at $4,222,000 after purchasing an additional 3,171 shares during the last quarter. Finally, Aquatic Capital Management LLC boosted its stake in Wabtec by 19.6% during the 3rd quarter. Aquatic Capital Management LLC now owns 28,781 shares of the transportation company’s stock valued at $5,770,000 after purchasing an additional 4,711 shares during the period. 91.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WAB has been the subject of several recent analyst reports. Stephens upped their target price on shares of Wabtec from $230.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, February 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of Wabtec in a research report on Wednesday, January 21st. Susquehanna set a $300.00 price objective on Wabtec in a report on Thursday, February 12th. Citigroup raised their target price on Wabtec from $258.00 to $283.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Finally, JPMorgan Chase & Co. lifted their target price on Wabtec from $215.00 to $245.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $269.00.

Insider Activity

In other Wabtec news, insider Nalin Jain sold 7,936 shares of the company’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $264.09, for a total transaction of $2,095,818.24. Following the completion of the sale, the insider directly owned 6,364 shares of the company’s stock, valued at approximately $1,680,668.76. This represents a 55.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO John A. Olin sold 11,000 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $263.30, for a total transaction of $2,896,300.00. Following the completion of the transaction, the chief financial officer owned 60,487 shares of the company’s stock, valued at approximately $15,926,227.10. The trade was a 15.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 33,310 shares of company stock worth $8,541,509. 1.10% of the stock is owned by company insiders.

Wabtec Price Performance

Shares of NYSE:WAB opened at $236.60 on Monday. The company has a market capitalization of $40.34 billion, a PE ratio of 34.64, a price-to-earnings-growth 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. The stock has a fifty day moving average of $242.37 and a 200-day moving average of $216.49. Wabtec has a one year low of $151.81 and a one year high of $266.27.

Wabtec (NYSE:WAB) last issued its earnings results on Wednesday, February 11th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company’s quarterly revenue was up 14.8% on a year-over-year basis. Wabtec has set its FY 2026 guidance at 10.050-10.450 EPS. As a group, equities analysts anticipate that Wabtec will post 8.54 EPS for the current fiscal year.

Wabtec Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Tuesday, February 17th were paid a $0.31 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $1.24 dividend on an annualized basis and a yield of 0.5%. This is an increase from Wabtec’s previous quarterly dividend of $0.25. Wabtec’s dividend payout ratio (DPR) is 18.16%.

Wabtec announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 11th that permits the company to buyback $1.20 billion in outstanding shares. This buyback authorization permits the transportation company to repurchase 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 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.