Sumitomo Mitsui Trust Group Inc. Cuts Stake in Wabtec $WAB

Sumitomo Mitsui Trust Group Inc. reduced its position in shares of Wabtec (NYSE:WAB) by 5.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 375,671 shares of the transportation company’s stock after selling 21,443 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.22% of Wabtec worth $93,884,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Wabtec during the fourth quarter valued at approximately $409,039,000. Price T Rowe Associates Inc. MD raised its holdings in Wabtec by 20.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,965,503 shares of the transportation company’s stock worth $1,700,238,000 after acquiring an additional 1,344,744 shares during the last quarter. Nordea Investment Management AB raised its holdings in Wabtec by 55.5% in the 4th quarter. Nordea Investment Management AB now owns 3,069,340 shares of the transportation company’s stock worth $659,939,000 after acquiring an additional 1,095,083 shares during the last quarter. Farallon Capital Management LLC lifted its position in Wabtec by 68.6% in the 3rd quarter. Farallon Capital Management LLC now owns 2,205,098 shares of the transportation company’s stock valued at $442,056,000 after acquiring an additional 896,900 shares in the last quarter. Finally, Bank of Montreal Can lifted its position in Wabtec by 360.0% in the 4th quarter. Bank of Montreal Can now owns 885,197 shares of the transportation company’s stock valued at $188,945,000 after acquiring an additional 692,773 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.

Wabtec Stock Performance

Wabtec stock traded up $1.73 during midday trading on Friday, reaching $261.50. 553,958 shares of the company traded hands, compared to its average volume of 776,780. Wabtec has a 12 month low of $184.26 and a 12 month high of $284.91. 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 business has a 50 day moving average of $264.85 and a two-hundred day moving average of $251.37. The firm has a market capitalization of $44.37 billion, a price-to-earnings ratio of 36.99, a price-to-earnings-growth ratio of 1.86 and a beta of 0.94.

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

Wabtec Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Friday, May 22nd were issued a $0.31 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.24 annualized dividend and a dividend yield of 0.5%. Wabtec’s payout ratio is presently 17.54%.

Wall Street Analyst Weigh In

WAB has been the subject of a number of research analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Wabtec in a report on Monday, April 20th. Stephens raised Wabtec to a “strong-buy” rating in a report on Wednesday. Wall Street Zen cut Wabtec from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Wells Fargo & Company lifted their price objective on Wabtec from $270.00 to $284.00 and gave the stock an “equal weight” rating in a report on Thursday, April 23rd. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $318.00 price objective on shares of Wabtec in a report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $289.82.

Insider Buying and Selling at Wabtec

In other Wabtec news, CEO Rafael Santana sold 1,163 shares of the firm’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 trade represents a 0.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sameer Gaur sold 1,082 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $263.50, for a total value of $285,107.00. Following the sale, the insider owned 11,985 shares of the company’s stock, valued at approximately $3,158,047.50. This represents a 8.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 66,586 shares of company stock valued at $17,867,065 in the last ninety days. 0.57% of the stock is currently owned by corporate insiders.

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.