Sumitomo Mitsui Trust Group Inc. Acquires 2,126 Shares of Wabtec $WAB

Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Wabtec (NYSE:WAB) by 0.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 377,797 shares of the transportation company’s stock after purchasing an additional 2,126 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.22% of Wabtec worth $101,854,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its stake 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 valued at $1,700,238,000 after buying an additional 1,344,744 shares during the last quarter. State Street Corp boosted its stake in shares of Wabtec by 2.6% during the 4th quarter. State Street Corp now owns 7,658,040 shares of the transportation company’s stock worth $1,634,609,000 after buying an additional 197,610 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Wabtec by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 4,366,157 shares of the transportation company’s stock worth $928,249,000 after buying an additional 38,029 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Wabtec by 3.6% in the 3rd quarter. Wellington Management Group LLP now owns 3,304,183 shares of the transportation company’s stock valued at $662,390,000 after acquiring an additional 116,329 shares in the last quarter. Finally, Farallon Capital Management LLC grew its holdings in shares of Wabtec by 12.3% in the 4th quarter. Farallon Capital Management LLC now owns 2,476,003 shares of the transportation company’s stock valued at $528,503,000 after acquiring an additional 270,905 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.

Wabtec Stock Performance

Shares of WAB opened at $297.93 on Friday. The company has a market cap of $50.32 billion, a PE ratio of 40.04, a price-to-earnings-growth ratio of 2.00 and a beta of 0.93. The firm has a 50-day moving average of $276.02 and a 200-day moving average of $262.26. Wabtec has a one year low of $184.26 and a one year high of $306.64. 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 (NYSE:WAB) last issued its 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. Wabtec had a net margin of 10.59% and a return on equity of 15.10%. The company had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.07 billion. During the same period in the prior year, the firm earned $2.27 EPS. Wabtec’s quarterly revenue was up 17.5% compared to the same quarter last year. Wabtec has set its FY 2026 guidance at 10.600-10.900 EPS. As a group, equities analysts forecast that Wabtec will post 10.86 earnings per share for the current year.

Wabtec Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, August 18th. Wabtec’s payout ratio is 16.67%.

Insiders Place Their Bets

In other Wabtec news, insider Sameer Gaur sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $300.64, for a total value of $300,640.00. Following the sale, the insider owned 10,985 shares in the company, valued at $3,302,530.40. This represents a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Eric Gebhardt sold 7,100 shares of the firm’s 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 approximately $5,731,918.31. The trade was a 27.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 16,834 shares of company stock worth $4,874,977 over the last ninety days. 0.57% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on WAB. JPMorgan Chase & Co. lifted their target price on Wabtec from $300.00 to $315.00 and gave the company a “neutral” rating in a research report on Thursday, July 23rd. Wells Fargo & Company increased their price target on Wabtec from $284.00 to $315.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. Wolfe Research restated an “outperform” rating and issued a $303.00 price target on shares of Wabtec in a research note on Thursday, April 23rd. Morgan Stanley boosted their price target on Wabtec from $318.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Wabtec in a research note on Friday, July 17th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $313.36.

Wabtec Profile

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.