Allspring Global Investments Holdings LLC Raises Holdings in Wabtec $WAB

Allspring Global Investments Holdings LLC boosted its position in Wabtec (NYSE:WAB) by 964.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 77,195 shares of the transportation company’s stock after acquiring an additional 69,942 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Wabtec were worth $16,696,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in WAB. Piscataqua Savings Bank raised its holdings in shares of Wabtec by 12,800.0% in the 3rd quarter. Piscataqua Savings Bank now owns 129 shares of the transportation company’s stock worth $26,000 after purchasing an additional 128 shares during the period. Motco lifted its stake in shares of Wabtec by 6,600.0% in the 3rd quarter. Motco now owns 134 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 132 shares in the last quarter. Salomon & Ludwin LLC grew its holdings in shares of Wabtec by 370.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 160 shares of the transportation company’s stock worth $32,000 after purchasing an additional 126 shares during the period. North Capital Inc. grew its holdings in shares of Wabtec by 18,900.0% during the 3rd quarter. North Capital Inc. now owns 190 shares of the transportation company’s stock worth $38,000 after purchasing an additional 189 shares during the period. Finally, Root Financial Partners LLC acquired a new stake in Wabtec during the 3rd quarter worth approximately $44,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on WAB shares. Susquehanna set a $300.00 price target on shares of Wabtec in a report on Thursday, February 12th. Wells Fargo & Company increased their price objective on shares of Wabtec from $224.00 to $270.00 and gave the stock an “equal weight” rating in a research report on Friday, February 13th. Citigroup raised their target price on shares of Wabtec from $258.00 to $283.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. JPMorgan Chase & Co. lifted their target price on shares of Wabtec from $215.00 to $245.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Finally, Rothschild & Co Redburn raised shares of Wabtec from a “neutral” rating to a “buy” rating and upped their price target for the stock from $262.00 to $285.00 in a research report on Thursday, March 26th. Ten analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $272.08.

Wabtec Stock Up 0.0%

Shares of NYSE:WAB opened at $253.98 on Friday. The company has a market capitalization of $43.22 billion, a price-to-earnings ratio of 37.19, a price-to-earnings-growth ratio of 1.92 and a beta of 0.99. The company has a 50 day moving average of $247.73 and a two-hundred day moving average of $221.85. Wabtec has a 52-week low of $151.81 and a 52-week high of $266.27. The company has a quick ratio of 0.57, a current ratio of 1.11 and a debt-to-equity ratio of 0.38.

Wabtec (NYSE:WAB) last posted 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 business had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.86 billion. Wabtec had a net margin of 10.48% and a return on equity of 14.12%. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.68 earnings per share. Wabtec has set its FY 2026 guidance at 10.050-10.450 EPS. As a group, analysts forecast that Wabtec will post 8.54 earnings per share for the current fiscal year.

Wabtec Increases Dividend

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

Wabtec declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 11th that allows the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization allows the transportation company to repurchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, insider Nalin Jain sold 7,936 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was 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 in the company, valued at $1,680,668.76. This trade represents a 55.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Rafael Santana sold 1,798 shares of Wabtec stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $245.71, for a total value of $441,786.58. Following the sale, the chief executive officer directly owned 118,749 shares in the company, valued at approximately $29,177,816.79. The trade was a 1.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 31,512 shares of company stock worth $8,160,028 over the last quarter. Company 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.