Horizon Investment Services LLC Takes Position in Wabtec $WAB

Horizon Investment Services LLC acquired a new position in Wabtec (NYSE:WAB) during the second quarter, Holdings Channel reports. The institutional investor acquired 6,294 shares of the transportation company’s stock, valued at approximately $1,697,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. lifted its stake in shares of Wabtec by 5.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 85,485 shares of the transportation company’s stock valued at $18,247,000 after purchasing an additional 4,266 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Wabtec by 24,274.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 323,936 shares of the transportation company’s stock worth $69,144,000 after buying an additional 322,607 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Wabtec by 16.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 925,021 shares of the transportation company’s stock worth $197,446,000 after buying an additional 132,091 shares during the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Wabtec during the fourth quarter valued at about $2,134,000. Finally, Pinnbrook Capital Management LP bought a new position in Wabtec during the fourth quarter valued at about $7,743,000. Institutional investors own 91.69% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Rafael Santana sold 1,163 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $299.04, for a total transaction of $347,783.52. Following the completion of the transaction, the chief executive officer directly owned 120,588 shares in the company, valued at $36,060,635.52. The trade was a 0.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Eric Gebhardt sold 7,100 shares of the stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $299.27, for a total value of $2,124,817.00. Following the completion of the sale, the chief technology officer directly owned 19,153 shares of the company’s stock, valued at $5,731,918.31. This represents a 27.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 16,834 shares of company stock worth $4,874,977 in the last 90 days. 0.57% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Susquehanna upped their price target on Wabtec from $305.00 to $340.00 and gave the stock a “positive” rating in a research note on Thursday, July 23rd. Stephens raised their price objective on Wabtec from $320.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Wells Fargo & Company boosted their target price on Wabtec from $284.00 to $315.00 and gave the stock an “equal weight” rating in a report on Thursday, July 23rd. KeyCorp upped their target price on Wabtec from $308.00 to $340.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Finally, Wall Street Zen cut Wabtec from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Wabtec presently has a consensus rating of “Moderate Buy” and an average target price of $313.36.

Wabtec Stock Performance

Shares of WAB opened at $299.40 on Monday. The company has a market capitalization of $50.57 billion, a PE ratio of 40.24, a price-to-earnings-growth ratio of 2.03 and a beta of 0.93. 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 has a one year low of $184.26 and a one year high of $306.64. The company’s fifty day moving average price is $276.79 and its 200 day moving average price is $262.74.

Wabtec (NYSE:WAB) last released its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $2.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.60 by $0.16. The company 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 business’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.27 earnings per share. Wabtec has set its FY 2026 guidance at 10.600-10.900 EPS. As a group, analysts expect that Wabtec will post 10.86 earnings per share for the current year.

Wabtec Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be paid a dividend of $0.31 per share. 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.