Flputnam Investment Management Co. Invests $8.36 Million in Wabtec $WAB

Flputnam Investment Management Co. acquired a new position in Wabtec (NYSE:WAB) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 31,019 shares of the transportation company’s stock, valued at approximately $8,363,000.

A number of other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new position in Wabtec in the fourth quarter valued at about $409,039,000. Price T Rowe Associates Inc. MD grew its stake in shares of Wabtec by 20.3% during the 4th 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 purchasing an additional 1,344,744 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Wabtec during the 2nd quarter valued at about $212,692,000. Bank of Montreal Can lifted its stake in shares of Wabtec by 360.0% in the 4th quarter. Bank of Montreal Can now owns 885,197 shares of the transportation company’s stock worth $188,945,000 after purchasing an additional 692,773 shares during the period. Finally, UBS Group AG lifted its stake in shares of Wabtec by 194.2% in the 3rd quarter. UBS Group AG now owns 1,033,304 shares of the transportation company’s stock worth $207,146,000 after purchasing an additional 682,048 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Insiders Place Their Bets

In other news, VP David L. Deninno sold 3,000 shares of the company’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $301.31, for a total value of $903,930.00. Following the completion of the transaction, the vice president owned 55,128 shares of the company’s stock, valued at $16,610,617.68. This represents a 5.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Rafael Santana sold 1,163 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $299.04, for a total value of $347,783.52. Following the sale, the chief executive officer owned 120,588 shares of the company’s stock, valued at $36,060,635.52. This represents a 0.96% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 16,834 shares of company stock worth $4,874,977. 0.57% of the stock is currently owned by corporate insiders.

Wabtec Price Performance

Shares of NYSE:WAB opened at $299.40 on Monday. The company has a market capitalization of $50.57 billion, a P/E ratio of 40.24, a P/E/G ratio of 2.03 and a beta of 0.93. Wabtec has a 1-year low of $184.26 and a 1-year high of $306.64. The firm’s 50 day simple moving average is $276.79 and its two-hundred day simple moving average is $262.74. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.12 and a quick ratio of 0.59.

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

Wabtec Dividend Announcement

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

Analyst Upgrades and Downgrades

WAB has been the subject of several recent research reports. Citigroup boosted their target price on shares of Wabtec from $311.00 to $341.00 and gave the company a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. increased their price target on shares of Wabtec from $300.00 to $315.00 and gave the stock a “neutral” rating in a research report on Thursday, July 23rd. Susquehanna lifted their price target on shares of Wabtec from $305.00 to $340.00 and gave the stock a “positive” rating in a research note on Thursday, July 23rd. Wolfe Research reissued an “outperform” rating and set a $303.00 price objective on shares of Wabtec in a research report on Thursday, April 23rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Wabtec in a research report on Friday, July 17th. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $313.36.

Wabtec 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.