PNC Financial Services Group Inc. Has $114.29 Million Stock Holdings in Wabtec $WAB

PNC Financial Services Group Inc. grew its holdings in Wabtec (NYSE:WAB) by 0.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 535,445 shares of the transportation company’s stock after purchasing an additional 3,976 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Wabtec were worth $114,291,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of WAB. Wellington Management Group LLP boosted its holdings in Wabtec by 3.6% in the third quarter. Wellington Management Group LLP now owns 3,304,183 shares of the transportation company’s stock worth $662,390,000 after purchasing an additional 116,329 shares in the last quarter. Nordea Investment Management AB raised its holdings in Wabtec by 55.5% during the fourth quarter. Nordea Investment Management AB now owns 3,069,340 shares of the transportation company’s stock valued at $659,939,000 after buying an additional 1,095,083 shares in the last quarter. Boston Partners lifted its position in shares of Wabtec by 1.9% in the third quarter. Boston Partners now owns 2,304,832 shares of the transportation company’s stock worth $462,057,000 after buying an additional 43,376 shares during the last quarter. Farallon Capital Management LLC lifted its position in shares of Wabtec by 68.6% in the third quarter. Farallon Capital Management LLC now owns 2,205,098 shares of the transportation company’s stock worth $442,056,000 after buying an additional 896,900 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Wabtec by 1.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,718,241 shares of the transportation company’s stock worth $344,405,000 after acquiring an additional 19,952 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. 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. Wall Street Zen cut Wabtec from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Wells Fargo & Company increased their price target on Wabtec from $270.00 to $284.00 and gave the company an “equal weight” rating in a report on Thursday, April 23rd. Morgan Stanley reissued an “overweight” rating and issued a $318.00 price target on shares of Wabtec in a research report on Monday, April 27th. Finally, Wolfe Research restated an “outperform” rating and issued a $303.00 price objective on shares of Wabtec in a research note on Thursday, April 23rd. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $289.82.

Insider Activity at Wabtec

In other news, CEO Rafael Santana sold 1,163 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $263.77, for a total transaction of $306,764.51. Following the sale, the chief executive officer directly owned 127,566 shares in the company, valued at approximately $33,648,083.82. The trade was a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nalin Jain sold 7,936 shares of the company’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $264.09, for a total value of $2,095,818.24. Following the completion of the transaction, the insider owned 6,364 shares of the company’s stock, valued at $1,680,668.76. The trade was a 55.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 90,777 shares of company stock worth $24,141,475 in the last three months. Company insiders own 0.57% of the company’s stock.

Wabtec Stock Performance

NYSE WAB opened at $259.30 on Thursday. The company’s fifty day moving average is $256.48 and its two-hundred day moving average is $236.88. Wabtec has a 52-week low of $184.26 and a 52-week high of $275.84. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.02 and a quick ratio of 0.54. The firm has a market capitalization of $44.00 billion, a price-to-earnings ratio of 36.68, a P/E/G ratio of 1.83 and a beta of 0.97.

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

Wabtec Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Friday, May 22nd will be given a $0.31 dividend. The ex-dividend date is Friday, May 22nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.5%. Wabtec’s dividend payout ratio (DPR) is currently 17.54%.

Wabtec declared that its Board of Directors has initiated a share repurchase plan on Wednesday, February 11th that allows the company to repurchase $1.20 billion in shares. This repurchase authorization allows the transportation company to reacquire up to 2.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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.