Wabtec (NYSE:WAB) Short Interest Update
by Danessa Lincoln · The Markets DailyWabtec (NYSE:WAB – Get Free Report) was the recipient of a significant growth in short interest in the month of February. As of February 27th, there was short interest totaling 2,287,421 shares, a growth of 27.8% from the February 12th total of 1,789,915 shares. Currently, 1.4% of the shares of the company are short sold. Based on an average daily trading volume, of 925,798 shares, the short-interest ratio is presently 2.5 days. Based on an average daily trading volume, of 925,798 shares, the short-interest ratio is presently 2.5 days. Currently, 1.4% of the shares of the company are short sold.
Wabtec Stock Performance
Shares of WAB traded down $3.76 during midday trading on Friday, reaching $236.60. 613,300 shares of the stock were exchanged, compared to its average volume of 874,873. The stock’s 50 day simple moving average is $242.37 and its 200 day simple moving average is $216.49. The company has a market cap of $40.34 billion, a P/E ratio of 34.64, a PEG ratio of 1.79 and a beta of 0.99. Wabtec has a twelve month low of $151.81 and a twelve month high of $266.27. The company has a quick ratio of 0.57, a current ratio of 1.11 and a debt-to-equity ratio of 0.38.
Wabtec (NYSE:WAB – Get Free Report) 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. Wabtec had a net margin of 10.48% and a return on equity of 14.12%. The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.86 billion. During the same period in the prior year, the company posted $1.68 earnings per share. Wabtec’s revenue was up 14.8% compared to the same quarter last year. Wabtec has set its FY 2026 guidance at 10.050-10.450 EPS. On average, sell-side analysts expect that Wabtec will post 8.54 earnings per share for the current year.
Wabtec Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 17th were issued a dividend of $0.31 per share. This is a boost from Wabtec’s previous quarterly dividend of $0.25. This represents a $1.24 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Tuesday, February 17th. Wabtec’s payout ratio is 18.16%.
Wabtec declared that its board has approved a share buyback program on Wednesday, February 11th that authorizes the company to buyback $1.20 billion in outstanding shares. This buyback authorization authorizes the transportation company to reacquire up to 2.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
Insider Buying and Selling
In related news, EVP Gina Trombley sold 4,013 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $241.87, for a total value of $970,624.31. Following the sale, the executive vice president owned 13,841 shares in the company, valued at approximately $3,347,722.67. This represents a 22.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nalin Jain sold 7,936 shares of the firm’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $264.09, for a total value of $2,095,818.24. Following the sale, the insider directly owned 6,364 shares of the company’s stock, valued at $1,680,668.76. This represents a 55.50% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 33,310 shares of company stock valued at $8,541,509. Insiders own 1.10% of the company’s stock.
Institutional Trading of Wabtec
Several large investors have recently modified their holdings of WAB. Norges Bank bought a new stake in Wabtec during the fourth quarter worth about $409,039,000. Price T Rowe Associates Inc. MD increased its holdings 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 period. Nordea Investment Management AB raised its position in shares of Wabtec by 55.5% in the 4th quarter. Nordea Investment Management AB now owns 3,069,340 shares of the transportation company’s stock valued at $659,939,000 after buying an additional 1,095,083 shares in the last quarter. Farallon Capital Management LLC lifted its holdings in shares of Wabtec by 68.6% during the 3rd quarter. Farallon Capital Management LLC now owns 2,205,098 shares of the transportation company’s stock worth $442,056,000 after acquiring an additional 896,900 shares during the period. Finally, Bank of Montreal Can lifted its holdings in shares of Wabtec by 360.0% during the 4th quarter. Bank of Montreal Can now owns 885,197 shares of the transportation company’s stock worth $188,945,000 after acquiring an additional 692,773 shares during the period. 91.69% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
WAB has been the topic of several research reports. Morgan Stanley reiterated an “overweight” rating and issued a $315.00 price objective on shares of Wabtec in a report on Tuesday, February 17th. Wells Fargo & Company lifted their target price on shares of Wabtec from $224.00 to $270.00 and gave the stock an “equal weight” rating in a report on Friday, February 13th. JPMorgan Chase & Co. upped their price target on shares of Wabtec from $215.00 to $245.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. KeyCorp increased their price target on shares of Wabtec from $240.00 to $308.00 and gave the company an “overweight” rating in a report on Thursday, February 12th. Finally, Citigroup raised their price objective on shares of Wabtec from $258.00 to $283.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $269.00.
View Our Latest Research Report on WAB
Wabtec Company 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.