Skandinaviska Enskilda Banken AB publ Lowers Stake in Wabtec $WAB

Skandinaviska Enskilda Banken AB publ reduced its holdings in Wabtec (NYSE:WAB) by 4.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 44,193 shares of the transportation company’s stock after selling 2,285 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Wabtec were worth $8,859,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in WAB. Empowered Funds LLC raised its position in shares of Wabtec by 240.8% during the 2nd quarter. Empowered Funds LLC now owns 15,924 shares of the transportation company’s stock worth $3,334,000 after purchasing an additional 11,252 shares during the last quarter. Varenne Capital Partners increased its position in shares of Wabtec by 39.5% during the second quarter. Varenne Capital Partners now owns 277,078 shares of the transportation company’s stock worth $58,006,000 after purchasing an additional 78,394 shares in the last quarter. Quantbot Technologies LP acquired a new position in Wabtec in the 2nd quarter valued at $9,371,000. Varma Mutual Pension Insurance Co lifted its holdings in Wabtec by 9.1% in the 3rd quarter. Varma Mutual Pension Insurance Co now owns 47,924 shares of the transportation company’s stock valued at $9,607,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Mediolanum International Funds Ltd purchased a new position in Wabtec in the 2nd quarter valued at $8,201,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Michael Fetsko sold 5,058 shares of Wabtec stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $215.72, for a total value of $1,091,111.76. Following the completion of the sale, the insider owned 36,882 shares in the company, valued at approximately $7,956,185.04. This trade represents a 12.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Rogerio Mendonca sold 2,019 shares of the company’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $214.51, for a total value of $433,095.69. Following the transaction, the insider owned 9,516 shares in the company, valued at $2,041,277.16. This trade represents a 17.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 15,673 shares of company stock valued at $3,420,576 over the last 90 days. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

WAB has been the subject of a number of research reports. KeyCorp upped their target price on shares of Wabtec from $240.00 to $308.00 and gave the stock an “overweight” rating in a report on Thursday, February 12th. Susquehanna set a $300.00 price objective on shares of Wabtec in a research note on Thursday, February 12th. Stephens raised their target price on shares of Wabtec from $230.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, February 12th. Wolfe Research upgraded Wabtec from a “peer perform” rating to an “outperform” rating and set a $245.00 price target for the company in a research report on Thursday, January 8th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wabtec in a report on Wednesday, January 21st. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $269.00.

Wabtec Stock Performance

NYSE:WAB opened at $259.30 on Thursday. The company’s 50-day moving average is $229.14 and its two-hundred day moving average is $208.74. Wabtec has a 1-year low of $151.81 and a 1-year high of $263.66. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.11 and a quick ratio of 0.57. The firm has a market capitalization of $44.22 billion, a price-to-earnings ratio of 37.97, a PEG ratio of 1.97 and a beta of 1.01.

Wabtec (NYSE:WAB) last released its quarterly earnings results on Wednesday, February 11th. The transportation company reported $2.10 EPS for the quarter, beating the consensus estimate of $2.08 by $0.02. The firm had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.86 billion. Wabtec had a net margin of 10.48% and a return on equity of 14.12%. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.68 EPS. Wabtec has set its FY 2026 guidance at 10.050-10.450 EPS. Analysts forecast that Wabtec will post 8.54 EPS for the current year.

Wabtec declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 11th that permits the company to buyback $1.20 billion in shares. This buyback authorization permits the transportation company to repurchase up to 2.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Wabtec Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Tuesday, February 17th will be issued a dividend of $0.31 per share. The ex-dividend date is Tuesday, February 17th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.5%. This is a boost from Wabtec’s previous quarterly dividend of $0.25. Wabtec’s dividend payout ratio (DPR) is currently 18.16%.

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.