Wabtec (NYSE:WAB) Hits New 52-Week High – Here’s What Happened

Shares of Wabtec (NYSE:WAB) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $276.22 and last traded at $274.8550, with a volume of 112095 shares. The stock had previously closed at $268.89.

Analyst Ratings Changes

WAB has been the topic of several research analyst reports. JPMorgan Chase & Co. cut their price objective on Wabtec from $290.00 to $280.00 and set a “neutral” rating on the stock in a research report on Friday, April 10th. Weiss Ratings reissued a “buy (b)” rating on shares of Wabtec in a research note on Monday, April 20th. Wells Fargo & Company raised their price target on shares of Wabtec from $270.00 to $284.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 23rd. Susquehanna reiterated a “positive” rating and set a $305.00 price objective on shares of Wabtec in a report on Thursday, April 23rd. Finally, Wall Street Zen downgraded shares of Wabtec from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $289.82.

Wabtec Trading Up 2.4%

The company has a quick ratio of 0.54, a current ratio of 1.02 and a debt-to-equity ratio of 0.42. The stock’s 50 day moving average is $262.92 and its two-hundred day moving average is $244.18. The company has a market capitalization of $46.71 billion, a PE ratio of 38.92, a price-to-earnings-growth ratio of 1.90 and a beta of 0.94.

Wabtec (NYSE:WAB) last posted its earnings results on Wednesday, April 22nd. The transportation company reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.09. Wabtec had a net margin of 10.52% and a return on equity of 14.52%. The business had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter last year, the firm posted $2.28 EPS. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. Wabtec has set its FY 2026 guidance at 10.250-10.650 EPS. As a group, sell-side analysts predict that Wabtec will post 10.61 EPS for the current fiscal year.

Wabtec Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Friday, May 22nd were paid a $0.31 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.24 dividend on an annualized basis and a yield of 0.5%. Wabtec’s payout ratio is 17.54%.

Insider Transactions at Wabtec

In other Wabtec news, CEO Rafael Santana sold 1,163 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $261.06, for a total transaction of $303,612.78. Following the sale, the chief executive officer owned 124,077 shares of the company’s stock, valued at approximately $32,391,541.62. This trade represents a 0.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 64,341 shares of company stock worth $17,277,171. 0.57% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Wabtec

A number of institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Wabtec in the 4th quarter worth approximately $409,039,000. Price T Rowe Associates Inc. MD boosted its stake in Wabtec by 20.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,965,503 shares of the transportation company’s stock valued at $1,700,238,000 after acquiring an additional 1,344,744 shares in the last quarter. Nordea Investment Management AB grew its holdings in Wabtec by 55.5% in the fourth quarter. Nordea Investment Management AB now owns 3,069,340 shares of the transportation company’s stock worth $659,939,000 after purchasing an additional 1,095,083 shares during the last quarter. Farallon Capital Management LLC increased its position in shares of Wabtec by 68.6% during the third quarter. Farallon Capital Management LLC now owns 2,205,098 shares of the transportation company’s stock worth $442,056,000 after purchasing an additional 896,900 shares in the last quarter. Finally, Bank of Montreal Can lifted its holdings in shares of Wabtec by 360.0% during the 4th quarter. Bank of Montreal Can now owns 885,197 shares of the transportation company’s stock valued at $188,945,000 after purchasing an additional 692,773 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

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.