SCHEDULE 13G/A: BlackRock Amends Stake in Westinghouse Air Brake Technologies, Reports 7.1% Beneficial Ownership
Beneficial Ownership Report
BlackRock, Inc. has filed an Amendment No. 14 to Schedule 13G, disclosing its beneficial ownership of 7.1% of Westinghouse Air Brake Technologies Corporation's common stock as of March 31, 2025.
Summary
- BlackRock, Inc. filed an Amendment No. 14 to Schedule 13G regarding its ownership in WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORPORATION (WABTEC).
- As of March 31, 2025, BlackRock, Inc. beneficially owns an aggregate of 12,143,715 shares of WABTEC Common Stock.
- This ownership represents 7.1% of the total outstanding common shares of WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORPORATION.
- BlackRock, Inc. holds sole voting power over 10,910,904 shares and sole dispositive power over 12,143,715 shares.
- No shared voting or dispositive power was reported by BlackRock, Inc.
- The filing certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.
Sentiment
Score: 5
Explanation: The document is a factual regulatory filing (Schedule 13G) reporting beneficial ownership. It contains no subjective language, performance data, or strategic announcements that would indicate a positive or negative sentiment regarding the issuer's business operations or financial health. The sentiment is neutral as it simply reports a change in ownership percentage.
Future Outlook
NA
Management Comments
- "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11." (Certification by Spencer Fleming, Managing Director of BlackRock, Inc.)
Industry Context
This filing is a routine disclosure by a major institutional investor, BlackRock, indicating its passive ownership stake in a publicly traded company, Westinghouse Air Brake Technologies Corporation. It reflects BlackRock's ongoing investment activities as a large asset manager, which commonly holds significant, but non-controlling, positions across numerous public companies as part of its diversified portfolio management.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Attorney-in-fact | N/A (previous power of attorney revoked) | Eric Andruczyk, Richard Cundiff, R. Andrew Dickson, III, Spencer Fleming, Laura Hildner, David Maryles, Christopher Meade, Charles Park, James Raby, Daniel Riemer, David Rothenberg, Brenda Schulz | 2025-01-21 | New Power of Attorney issued by BlackRock, Inc. to authorize individuals for executing ownership and control-person reporting requirements, revoking a prior power of attorney. |
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Power of Attorney Update | BlackRock, Inc. issued a new Power of Attorney, effective January 21, 2025, appointing several individuals as attorneys-in-fact for executing ownership or control-person reporting requirements, thereby revoking a previous power of attorney dated April 30, 2023. | 2025-01-21 | This update streamlines BlackRock's internal processes for complying with various regulatory reporting requirements related to its investment holdings, ensuring proper authorization for SEC filings. |
Stakeholder Impact
- Shareholders: The filing provides transparency regarding a significant institutional investor's stake in Westinghouse Air Brake Technologies Corporation, which can influence market perception and liquidity by signaling continued institutional interest in the company.
Key Dates
| Date | Description |
|---|---|
| 2023-04-30 | Previous Power of Attorney date, which was revoked by the new Power of Attorney. |
| 2025-01-21 | Effective date of the new Power of Attorney issued by BlackRock, Inc. |
| 2025-03-31 | Date of the event which required the filing of this Schedule 13G statement. |
| 2025-04-17 | Date of filing and signature of the Schedule 13G statement by BlackRock, Inc. |
Keywords
BlackRock, Westinghouse Air Brake Technologies Corporation, WABTEC, Schedule 13G, Beneficial Ownership, Institutional Investor, Common Stock, SEC Filing, Investment Management
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