Pictet Asset Management Holding SA Sells 25,320 Shares of Wabtec $WAB

Pictet Asset Management Holding SA lessened its position in Wabtec (NYSE:WAB) by 20.3% during the second quarter, Holdings Channel reports. The institutional investor owned 99,209 shares of the transportation company’s stock after selling 25,320 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Wabtec were worth $26,747,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its stake in shares of Wabtec by 20.3% during 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 in the last quarter. State Street Corp lifted its position in shares of Wabtec by 2.6% in the fourth quarter. State Street Corp now owns 7,658,040 shares of the transportation company’s stock worth $1,634,609,000 after purchasing an additional 197,610 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Wabtec by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 4,366,157 shares of the transportation company’s stock worth $928,249,000 after purchasing an additional 38,029 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Wabtec by 3.6% during the third quarter. Wellington Management Group LLP now owns 3,304,183 shares of the transportation company’s stock worth $662,390,000 after purchasing an additional 116,329 shares during the last quarter. Finally, Farallon Capital Management LLC grew its position in Wabtec by 12.3% in the fourth quarter. Farallon Capital Management LLC now owns 2,476,003 shares of the transportation company’s stock valued at $528,503,000 after purchasing an additional 270,905 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.

Wabtec Price Performance

Shares of WAB opened at $299.40 on Friday. The company has a market cap of $50.57 billion, a price-to-earnings ratio of 40.24, a PEG ratio of 2.02 and a beta of 0.93. Wabtec has a 1-year low of $184.26 and a 1-year high of $306.64. The company’s fifty day simple moving average is $276.79 and its 200 day simple moving average is $262.52. 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 announced its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $2.76 EPS for the quarter, beating analysts’ consensus estimates of $2.60 by $0.16. The firm had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.07 billion. Wabtec had a net margin of 10.59% and a return on equity of 15.10%. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter last year, the company posted $2.27 earnings per share. Wabtec has set its FY 2026 guidance at 10.600-10.900 EPS. On average, research analysts forecast that Wabtec will post 10.86 earnings per share for the current fiscal year.

Wabtec Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on WAB shares. Stephens lifted their price target on shares of Wabtec from $320.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Wolfe Research restated an “outperform” rating and set a $303.00 price objective on shares of Wabtec in a research note on Thursday, April 23rd. JPMorgan Chase & Co. raised their price objective on Wabtec from $300.00 to $315.00 and gave the company a “neutral” rating in a report on Thursday, July 23rd. Citigroup lifted their target price on Wabtec from $311.00 to $341.00 and gave the company a “buy” rating in a research report on Thursday. Finally, KeyCorp upped their target price on Wabtec from $308.00 to $340.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Wabtec currently has a consensus rating of “Moderate Buy” and a consensus target price of $313.36.

Insider Activity

In related news, insider Sameer Gaur sold 1,000 shares of the firm’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $300.64, for a total value of $300,640.00. Following the completion of the sale, the insider directly owned 10,985 shares in the company, valued at approximately $3,302,530.40. This trade represents a 8.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Eric Gebhardt sold 7,100 shares of Wabtec stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $299.27, for a total value of $2,124,817.00. Following the transaction, the chief technology officer owned 19,153 shares of the company’s stock, valued at $5,731,918.31. The trade was a 27.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 16,834 shares of company stock valued at $4,874,977 in the last 90 days. 0.57% of the stock is owned by company 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.