SCHEDULE: FMR LLC & Abigail Johnson Boost Wabtec Stake to 9.5%
Beneficial Ownership Disclosure
FMR LLC and Abigail P. Johnson have disclosed a beneficial ownership of 9.5% of Westinghouse Air Brake Technologies Corporation's common stock as of September 30, 2025.
Summary
- FMR LLC and Abigail P. Johnson jointly reported beneficial ownership of 16,291,719.94 shares of Westinghouse Air Brake Technologies Corporation (Wabtec Corp) common stock.
- This represents 9.5% of the total outstanding common stock of Wabtec Corp.
- The filing is an Amendment No. 2 to a Schedule 13G, indicating a change from a previous filing.
- FMR LLC holds sole voting power over 13,749,568.68 shares and sole dispositive power over 16,291,719.94 shares.
- Abigail P. Johnson, as a control person of FMR LLC, is deemed to beneficially own the same aggregate amount of shares and has sole dispositive power over 16,291,719.94 shares, but no sole voting power.
- The securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Wabtec Corp.
- Several FMR LLC subsidiaries, including Fidelity Management & Research Company LLC, are identified as entities beneficially owning shares, with Fidelity Management & Research Company LLC owning 5% or greater.
Sentiment
Score: 7
Explanation: The filing indicates a significant, stable, and passive institutional investment in the company, which is generally a positive signal of confidence from a major financial entity. The 'Amendment No. 2' suggests a continuation or adjustment of an existing position rather than a new, aggressive stake.
Positives
- A significant institutional investor, FMR LLC, and its principal, Abigail P. Johnson, maintaining a substantial 9.5% stake in Westinghouse Air Brake Technologies Corporation, signals continued confidence in the company.
- The filing explicitly states that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control, suggesting a passive investment intent.
Negatives
- No specific negative information regarding Westinghouse Air Brake Technologies Corporation is disclosed in this beneficial ownership filing.
Risks
- No specific risks related to Westinghouse Air Brake Technologies Corporation are mentioned in this beneficial ownership filing.
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."
Industry Context
NA
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Director, Chairman and Chief Executive Officer of FMR LLC | NA | Abigail P. Johnson | NA | NA (This is a description of her current role at the reporting entity, not a change for the issuer.) |
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Ownership Structure Disclosure | The filing details the ownership structure of FMR LLC, noting that members of the Johnson family, including Abigail P. Johnson, are predominant owners of Series B voting common shares (49% voting power) and have a shareholders' voting agreement, which may deem them to form a controlling group with respect to FMR LLC. | NA | This relates to the governance of the reporting entity (FMR LLC) and its control persons, rather than direct changes in the corporate governance of the issuer (Westinghouse Air Brake Technologies Corporation). |
Stakeholder Impact
- Shareholders: The disclosure of a significant 9.5% stake by a prominent institutional investor like FMR LLC could be viewed positively by other shareholders, potentially signaling confidence in the company's long-term prospects. It also provides transparency regarding major ownership positions.
Key Dates
| Date | Description |
|---|---|
| 2023-01-03 | Effective date of Power of Attorney for FMR LLC. |
| 2023-01-26 | Effective date of Power of Attorney for Abigail P. Johnson. |
| 2025-09-30 | Date of event which requires filing of this statement (reporting period end date). |
| 2025-11-04 | Date of joint filing agreement and signature date for FMR LLC and Abigail P. Johnson. |
Recommendation
holdThis Schedule 13G filing primarily serves as a disclosure of a significant beneficial ownership stake by FMR LLC and Abigail P. Johnson in Westinghouse Air Brake Technologies Corporation. It indicates a substantial, passive investment (9.5% of common stock) held in the ordinary course of business, without intent to influence control. While a large institutional stake can be a positive signal of confidence, this filing alone does not provide new financial performance data, strategic updates, or operational insights that would warrant a change in investment recommendation. It confirms a significant existing institutional presence. Therefore, a 'hold' recommendation is appropriate, as the filing reinforces the status quo of institutional interest without introducing new catalysts for a 'buy' or 'sell.'
Keywords
Wabtec, Westinghouse Air Brake Technologies, FMR LLC, Abigail P. Johnson, Schedule 13G, Beneficial Ownership, Institutional Investor, Common Stock, Investment, Rail Technology
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