Meiji Yasuda Asset Management Co Ltd. Cuts Stake in Wabtec $WAB

Meiji Yasuda Asset Management Co Ltd. decreased its stake in Wabtec (NYSE:WAB) by 82.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,391 shares of the transportation company’s stock after selling 6,660 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Wabtec were worth $279,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of WAB. Colonial Trust Advisors increased its stake in Wabtec by 454.5% during the 2nd quarter. Colonial Trust Advisors now owns 122 shares of the transportation company’s stock worth $26,000 after buying an additional 100 shares during the period. Piscataqua Savings Bank lifted its holdings in Wabtec by 12,800.0% in the 3rd quarter. Piscataqua Savings Bank now owns 129 shares of the transportation company’s stock worth $26,000 after buying an additional 128 shares in the last quarter. Motco boosted its position in Wabtec by 6,600.0% in the 3rd quarter. Motco now owns 134 shares of the transportation company’s stock valued at $27,000 after buying an additional 132 shares during the last quarter. Salomon & Ludwin LLC grew its stake in shares of Wabtec by 370.6% during the third quarter. Salomon & Ludwin LLC now owns 160 shares of the transportation company’s stock valued at $32,000 after acquiring an additional 126 shares in the last quarter. Finally, North Capital Inc. boosted its holdings in Wabtec by 18,900.0% in the third quarter. North Capital Inc. now owns 190 shares of the transportation company’s stock valued at $38,000 after purchasing an additional 189 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. KeyCorp lifted their price objective on Wabtec from $240.00 to $308.00 and gave the stock an “overweight” rating in a report on Thursday, February 12th. Wolfe Research upgraded shares of Wabtec from a “peer perform” rating to an “outperform” rating and set a $245.00 price objective on the stock in a research note on Thursday, January 8th. Morgan Stanley reissued an “overweight” rating and set a $315.00 price objective on shares of Wabtec in a report on Tuesday, February 17th. Susquehanna set a $300.00 target price on shares of Wabtec in a research report on Thursday, February 12th. Finally, JPMorgan Chase & Co. boosted their price objective on Wabtec from $215.00 to $245.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $269.00.

Wabtec Trading Down 0.2%

NYSE WAB opened at $246.53 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.57 and a current ratio of 1.11. The company has a 50-day simple moving average of $240.77 and a 200-day simple moving average of $215.52. Wabtec has a one year low of $151.81 and a one year high of $266.27. The firm has a market capitalization of $42.04 billion, a PE ratio of 36.09, a price-to-earnings-growth ratio of 1.86 and a beta of 0.99.

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

Wabtec Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Tuesday, February 17th were issued a $0.31 dividend. This is a boost from Wabtec’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.5%. Wabtec’s dividend payout ratio is 18.16%.

Wabtec declared that its board has initiated a stock buyback program on Wednesday, February 11th that allows the company to repurchase $1.20 billion in shares. This repurchase authorization allows the transportation company to buy up to 2.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Wabtec

In other Wabtec news, CFO John A. Olin sold 11,000 shares of the business’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $263.30, for a total transaction of $2,896,300.00. Following the completion of the transaction, the chief financial officer directly owned 60,487 shares of the company’s stock, valued at $15,926,227.10. The trade was a 15.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Sameer Gaur sold 1,150 shares of the company’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $262.62, for a total transaction of $302,013.00. Following the completion of the transaction, the insider owned 12,017 shares of the company’s stock, valued at approximately $3,155,904.54. This trade represents a 8.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 33,192 shares of company stock worth $8,379,272 over the last 90 days. Corporate insiders own 1.10% of the company’s stock.

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.