Man Group plc Sells 111,525 Shares of Wabtec $WAB

Man Group plc lowered its position in shares of Wabtec (NYSE:WAB) by 36.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 193,131 shares of the transportation company’s stock after selling 111,525 shares during the quarter. Man Group plc’s holdings in Wabtec were worth $52,068,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Welch & Forbes LLC increased its stake in shares of Wabtec by 1.8% in the second quarter. Welch & Forbes LLC now owns 2,050 shares of the transportation company’s stock worth $553,000 after purchasing an additional 36 shares in the last quarter. Meeder Advisory Services Inc. lifted its stake in shares of Wabtec by 1.6% during the 1st quarter. Meeder Advisory Services Inc. now owns 2,471 shares of the transportation company’s stock valued at $618,000 after buying an additional 38 shares in the last quarter. Hilltop Holdings Inc. lifted its stake in shares of Wabtec by 3.9% during the 4th quarter. Hilltop Holdings Inc. now owns 1,069 shares of the transportation company’s stock valued at $228,000 after buying an additional 40 shares in the last quarter. L2 Asset Management LLC boosted its holdings in Wabtec by 5.0% in the 2nd quarter. L2 Asset Management LLC now owns 960 shares of the transportation company’s stock worth $259,000 after buying an additional 46 shares during the period. Finally, Apollon Wealth Management LLC boosted its holdings in Wabtec by 1.6% in the 1st quarter. Apollon Wealth Management LLC now owns 3,081 shares of the transportation company’s stock worth $770,000 after buying an additional 48 shares during the period. 91.69% of the stock is currently owned by institutional investors.

Wabtec Price Performance

NYSE:WAB opened at $297.10 on Wednesday. The business’s 50-day moving average is $281.28 and its 200 day moving average is $265.84. Wabtec has a 12 month low of $184.26 and a 12 month high of $306.64. The company has a market capitalization of $50.18 billion, a P/E ratio of 39.93, a P/E/G ratio of 2.02 and a beta of 0.93. The company has a current ratio of 1.12, a quick ratio of 0.59 and a debt-to-equity ratio of 0.44.

Wabtec (NYSE:WAB) last released its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.60 by $0.16. Wabtec had a return on equity of 15.10% and a net margin of 10.59%.The business had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.07 billion. During the same quarter last year, the business posted $2.27 EPS. The firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. Wabtec has set its FY 2026 guidance at 10.600-10.900 EPS. On average, equities research analysts forecast that Wabtec will post 10.86 earnings per share for the current fiscal year.

Wabtec Announces Dividend

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

Insider Transactions at Wabtec

In related news, CEO Rafael Santana sold 1,163 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $261.06, for a total value of $303,612.78. Following the sale, the chief executive officer owned 124,077 shares in the company, valued at approximately $32,391,541.62. The trade was a 0.93% 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, VP David L. Deninno sold 3,000 shares of the company’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $301.31, for a total transaction of $903,930.00. Following the sale, the vice president directly owned 55,128 shares in the company, valued at approximately $16,610,617.68. The trade was a 5.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 21,036 shares of company stock valued at $6,113,542 in the last 90 days. Company insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on WAB. Stephens increased their price target on Wabtec from $320.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Wells Fargo & Company boosted their price objective on Wabtec from $284.00 to $315.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wabtec in a research note on Friday, July 17th. Citigroup increased their target price on Wabtec from $311.00 to $341.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Finally, Morgan Stanley lifted their target price on Wabtec from $318.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Wabtec presently has a consensus rating of “Moderate Buy” and a consensus target price of $313.36.

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.