State of New Jersey Common Pension Fund D Sells 2,980 Shares of Wabtec $WAB

State of New Jersey Common Pension Fund D reduced its holdings in Wabtec (NYSE:WAB) by 5.0% in the fourth quarter, HoldingsChannel reports. The firm owned 56,832 shares of the transportation company’s stock after selling 2,980 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Wabtec were worth $12,131,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. CI Investments Inc. increased its holdings in Wabtec by 6.1% in the third quarter. CI Investments Inc. now owns 865 shares of the transportation company’s stock worth $173,000 after purchasing an additional 50 shares in the last quarter. Carnegie Investment Counsel grew its stake in Wabtec by 2.6% in the fourth quarter. Carnegie Investment Counsel now owns 2,051 shares of the transportation company’s stock valued at $438,000 after acquiring an additional 51 shares during the period. Quadrant Capital Group LLC grew its stake in Wabtec by 1.3% in the third quarter. Quadrant Capital Group LLC now owns 4,082 shares of the transportation company’s stock valued at $818,000 after acquiring an additional 54 shares during the period. Blue Trust Inc. grew its stake in Wabtec by 11.1% in the fourth quarter. Blue Trust Inc. now owns 549 shares of the transportation company’s stock valued at $117,000 after acquiring an additional 55 shares during the period. Finally, True Wealth Design LLC grew its stake in Wabtec by 13.9% in the fourth quarter. True Wealth Design LLC now owns 460 shares of the transportation company’s stock valued at $98,000 after acquiring an additional 56 shares during the period. 91.69% of the stock is currently owned by institutional investors.

Wabtec Stock Down 1.7%

Shares of NYSE:WAB opened at $265.27 on Friday. The stock has a market cap of $45.01 billion, a price-to-earnings ratio of 37.52, a PEG ratio of 1.93 and a beta of 0.97. The company has a quick ratio of 0.54, a current ratio of 1.02 and a debt-to-equity ratio of 0.42. Wabtec has a 12-month low of $184.26 and a 12-month high of $275.84. The business’s 50 day moving average is $255.17 and its 200 day moving average is $230.70.

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

Wabtec announced that its Board of Directors has approved a share buyback program on Wednesday, February 11th that allows the company to buyback $1.20 billion in outstanding shares. This buyback authorization allows the transportation company to repurchase up to 2.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Wabtec Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Tuesday, February 17th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This is a positive change from Wabtec’s previous quarterly dividend of $0.25. This represents a $1.24 annualized dividend and a dividend yield of 0.5%. Wabtec’s payout ratio is presently 17.54%.

Insider Activity at Wabtec

In related news, CFO John A. Olin sold 11,000 shares of Wabtec stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $263.30, for a total transaction of $2,896,300.00. Following the transaction, the chief financial officer owned 60,487 shares of the company’s stock, valued at $15,926,227.10. The trade was a 15.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Gina Trombley sold 4,013 shares of Wabtec stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $241.87, for a total value of $970,624.31. Following the transaction, the executive vice president directly owned 13,841 shares in the company, valued at approximately $3,347,722.67. The trade was a 22.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 92,364 shares of company stock valued at $24,522,522 over the last 90 days. Corporate insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Rothschild & Co Redburn raised Wabtec from a “neutral” rating to a “buy” rating and raised their price objective for the company from $262.00 to $285.00 in a research note on Thursday, March 26th. Wall Street Zen cut Wabtec from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. KeyCorp raised their price objective on Wabtec from $240.00 to $308.00 and gave the company an “overweight” rating in a research note on Thursday, February 12th. Stephens raised their price objective on Wabtec from $230.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, February 12th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $290.00 price objective (down from $300.00) on shares of Wabtec in a research note on Tuesday, March 31st. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $289.82.

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.