Engineers Gate Manager LP Buys Shares of 6,829 Wabtec $WAB

Engineers Gate Manager LP purchased a new position in shares of Wabtec (NYSE:WAB) during the second quarter, Holdings Channel.com reports. The fund purchased 6,829 shares of the transportation company’s stock, valued at approximately $1,841,000.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Wabtec in the second quarter valued at approximately $3,741,077,000. Norges Bank purchased a new stake in Wabtec during the 4th quarter worth approximately $409,039,000. Bank of New York Mellon Corp purchased a new stake in Wabtec during the 2nd quarter worth approximately $212,692,000. Deutsche Bank AG acquired a new stake in Wabtec during the 2nd quarter worth approximately $207,228,000. Finally, Assenagon Asset Management S.A. lifted its holdings in Wabtec by 288.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 851,733 shares of the transportation company’s stock worth $212,857,000 after buying an additional 632,218 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wall Street Zen downgraded shares of Wabtec from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Wabtec in a research note on Friday, July 17th. KeyCorp increased their price objective on Wabtec from $308.00 to $340.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Citigroup lifted their target price on Wabtec from $311.00 to $341.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Finally, JPMorgan Chase & Co. boosted their target price on Wabtec from $300.00 to $315.00 and gave the stock a “neutral” rating in a research note on Thursday, July 23rd. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Wabtec currently has a consensus rating of “Moderate Buy” and an average price target of $313.36.

Insider Transactions at Wabtec

In other Wabtec news, VP David Deninno sold 3,000 shares of Wabtec stock in a transaction dated Friday, July 24th. The stock was 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 of the company’s stock, valued at $16,610,617.68. The trade was a 5.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Rafael Santana sold 1,163 shares of the company’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $262.07, for a total value of $304,787.41. Following the transaction, the chief executive officer directly owned 122,914 shares of the company’s stock, valued at approximately $32,212,071.98. This represents a 0.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 17,628 shares of company stock valued at $5,220,523 over the last ninety days. Company insiders own 0.57% of the company’s stock.

Wabtec Stock Up 0.0%

Shares of Wabtec stock opened at $278.43 on Wednesday. Wabtec has a 52-week low of $184.26 and a 52-week high of $306.64. The company has a 50 day moving average of $285.75 and a 200 day moving average of $268.89. The company has a quick ratio of 0.59, a current ratio of 1.12 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $47.03 billion, a P/E ratio of 37.42, a P/E/G ratio of 1.89 and a beta of 0.92.

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

Wabtec Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th were paid a dividend of $0.31 per share. The ex-dividend date was Tuesday, August 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.4%. Wabtec’s payout ratio is presently 16.67%.

Wabtec Profile

Westinghouse Air Brake Technologies Corporation, known as Wabtec, is a global provider of equipment, systems, and services for the freight and transit rail industries. The company develops technologies designed to improve the safety, efficiency, reliability, and environmental performance of rail transportation.

Wabtec’s products and services include locomotives and locomotive components, braking systems, rail-control and signaling technologies, digital train-management solutions, and equipment for freight cars and passenger rail vehicles.