Renaissance Technologies LLC Has $29.01 Million Holdings in Wabtec $WAB

Renaissance Technologies LLC reduced its stake in shares of Wabtec (NYSE:WAB) by 16.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 116,095 shares of the transportation company’s stock after selling 22,300 shares during the quarter. Renaissance Technologies LLC’s holdings in Wabtec were worth $29,013,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Compound Planning Inc. increased its holdings in shares of Wabtec by 7.2% in the first quarter. Compound Planning Inc. now owns 2,666 shares of the transportation company’s stock worth $666,000 after acquiring an additional 180 shares in the last quarter. Klingman & Associates LLC bought a new position in shares of Wabtec during the 1st quarter worth approximately $203,000. Keebeck Wealth Management acquired a new stake in Wabtec in the 1st quarter valued at $292,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Wabtec in the first quarter valued at about $17,002,000. Finally, Bank of Nova Scotia increased its position in shares of Wabtec by 286.8% during the 1st quarter. Bank of Nova Scotia now owns 123,832 shares of the transportation company’s stock worth $30,947,000 after purchasing an additional 91,814 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

Insider Activity

In other Wabtec news, CEO Rafael Santana sold 1,163 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $262.07, for a total transaction of $304,787.41. Following the completion of the transaction, the chief executive officer owned 122,914 shares in the company, valued at approximately $32,212,071.98. This trade represents a 0.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP David L. Deninno sold 3,000 shares of the company’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $301.31, for a total transaction of $903,930.00. Following the completion of the sale, the vice president directly owned 55,128 shares in the company, valued at approximately $16,610,617.68. This represents a 5.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 16,834 shares of company stock worth $4,833,958. 0.57% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Susquehanna upped their target price on shares of Wabtec from $305.00 to $340.00 and gave the company a “positive” rating in a report on Thursday, July 23rd. Wolfe Research reissued an “outperform” rating and set a $303.00 target price on shares of Wabtec in a report on Thursday, April 23rd. Citigroup reduced their price target on Wabtec from $313.00 to $311.00 and set a “buy” rating on the stock in a research report on Monday, July 13th. Morgan Stanley raised their target price on shares of Wabtec from $318.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Finally, Wells Fargo & Company lifted their price target on Wabtec from $284.00 to $315.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $310.64.

Wabtec Stock Performance

Shares of Wabtec stock opened at $305.54 on Wednesday. The stock has a market cap of $51.61 billion, a price-to-earnings ratio of 41.07, a P/E/G ratio of 2.04 and a beta of 0.94. Wabtec has a twelve month low of $184.26 and a twelve month high of $306.10. The company’s fifty day moving average is $267.62 and its 200 day moving average is $256.62. The company has a quick ratio of 0.59, a current ratio of 1.12 and a debt-to-equity ratio of 0.44.

Wabtec (NYSE:WAB) last announced its earnings results on Wednesday, July 22nd. The transportation company reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.60 by $0.16. The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.07 billion. Wabtec had a return on equity of 15.10% and a net margin of 10.59%.Wabtec’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period last year, the company earned $2.27 EPS. Wabtec has set its FY 2026 guidance at 10.600-10.900 EPS. Sell-side analysts forecast that Wabtec will post 10.86 EPS for the current year.

Wabtec Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be issued a $0.31 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $1.24 annualized dividend and a yield of 0.4%. Wabtec’s dividend payout ratio is presently 16.67%.

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.