Select Equity Group, L.P. 13F: Cuts WAB Stake by $171M

Select Equity Group Trims Holding in Westinghouse Air Brake Technologies

Select Equity Group, L.P. reduced its investment in Westinghouse Air Brake Technologies Corporation (NYSE: WAB) during the period, according to a recent Form 13F filing with the U.S. Securities and Exchange Commission. The filing reflects holdings as of the reporting period and may not represent the investor's current position.

Position Details and Share Reduction

The fund cut its position by a 17.9% decrease, shedding 635,776 shares to bring its total down to 2,923,643 shares. Prior to this trade, the firm owned 3,559,419 shares. The remaining stake carried a reported value of about $788.2 million at the end of the period.

Stock Performance and Valuation Context

Westinghouse Air Brake Technologies shares traded around $269.60. The stock has a P/E ratio of 38.2, alongside a forward P/E ratio of 22.8. Over the past year, the shares have moved between a low of $186.06 and a high of $306.64.

Recent Insider Activity at Westinghouse Air Brake

Sameer Gaur, President of Global Freight Services, sold 1,082 shares on June 12, 2026, at an average price of $263.50 for a total value of $285,107. This transaction was not carried out under a Rule 10b5-1 trading plan. Insider sales are common and do not automatically signal a negative outlook.

Analysts Set New Price Targets

Wall Street firms maintain positive views on the company alongside mixed adjustments to targets. On October 8, 2026, Citigroup maintained its Buy rating while lowering its price target to $338.00 from $341.00. Earlier, on September 21, 2026, JP Morgan maintained a Neutral rating with a target raised to $320.00 from $315.00. Additional updates arrived on August 13, 2026, when Citigroup kept a Buy rating and lifted its target to $341.00. Back on July 23, 2026, multiple firms updated their outlooks: JP Morgan maintained a Neutral rating with a $315.00 target; Stephens & Co. kept an Overweight rating and raised its target to $330.00; Morgan Stanley maintained an Overweight rating and pushed its target to $355.00; Wells Fargo kept an Equal-Weight rating with a target of $315.00; and Susquehanna maintained a Positive rating while lifting its target to $340.00. Overall, the stock carries a consensus recommendation of strong buy from 12 analyst opinions, with a mean price target of $329.58.

About Westinghouse Air Brake Technologies Corporation

Westinghouse Air Brake Technologies builds locomotives, freight car components, and transit system equipment used by railroads and passenger networks across the globe. Founded in 1869 and based in Pittsburgh, Pennsylvania, the company supplies freight and transit solutions that range from diesel-electric engines to positive train control systems and braking equipment.

What to Watch at Westinghouse Air Brake Technologies Corporation

Investors will look toward the company's next earnings report, scheduled for October 21, 2026, for updates on revenue and profit margins. Because 13F filings look backward, institutional portfolios may have shifted further since the reporting date.