Westinghouse Air Brake Technologies Co. (NYSE:WAB - Get Free Report) VP David L. Deninno sold 3,000 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $191.82, for a total transaction of $575,460.00. Following the completion of the sale, the vice president now owns 63,450 shares in the company, valued at approximately $12,170,979. This trade represents a 4.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Westinghouse Air Brake Technologies Stock Performance
Shares of WAB opened at $189.45 on Wednesday. The firm has a fifty day moving average of $178.74 and a 200-day moving average of $190.30. The company has a market cap of $32.42 billion, a price-to-earnings ratio of 31.42, a price-to-earnings-growth ratio of 1.50 and a beta of 1.12. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.69 and a current ratio of 1.30. Westinghouse Air Brake Technologies Co. has a 1 year low of $147.66 and a 1 year high of $210.88.
Westinghouse Air Brake Technologies (NYSE:WAB - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The transportation company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.03 by $0.25. Westinghouse Air Brake Technologies had a net margin of 10.17% and a return on equity of 12.78%. The firm had revenue of $2.61 billion during the quarter, compared to analysts' expectations of $2.61 billion. During the same quarter in the prior year, the firm earned $1.89 EPS. Westinghouse Air Brake Technologies's quarterly revenue was up 4.5% on a year-over-year basis. As a group, equities analysts anticipate that Westinghouse Air Brake Technologies Co. will post 8.54 earnings per share for the current year.
Westinghouse Air Brake Technologies Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were paid a dividend of $0.25 per share. The ex-dividend date was Friday, February 21st. This represents a $1.00 annualized dividend and a yield of 0.53%. This is an increase from Westinghouse Air Brake Technologies's previous quarterly dividend of $0.20. Westinghouse Air Brake Technologies's payout ratio is presently 15.67%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of WAB. Longboard Asset Management LP acquired a new stake in Westinghouse Air Brake Technologies in the fourth quarter worth about $252,000. Pacer Advisors Inc. boosted its holdings in shares of Westinghouse Air Brake Technologies by 88.8% in the fourth quarter. Pacer Advisors Inc. now owns 31,811 shares of the transportation company's stock valued at $6,031,000 after acquiring an additional 14,959 shares in the last quarter. AGF Management Ltd. acquired a new position in shares of Westinghouse Air Brake Technologies during the fourth quarter valued at approximately $10,566,000. Longbow Finance SA bought a new stake in Westinghouse Air Brake Technologies during the fourth quarter worth approximately $4,312,000. Finally, Harvest Fund Management Co. Ltd lifted its position in Westinghouse Air Brake Technologies by 114.7% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 3,907 shares of the transportation company's stock worth $741,000 after purchasing an additional 2,087 shares during the period. Institutional investors own 91.69% of the company's stock.
Analyst Ratings Changes
A number of research analysts have commented on the company. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $201.00 target price (up previously from $175.00) on shares of Westinghouse Air Brake Technologies in a report on Wednesday, April 23rd. Stephens reaffirmed an "overweight" rating and issued a $220.00 price objective on shares of Westinghouse Air Brake Technologies in a report on Thursday, February 13th. Bank of America increased their target price on shares of Westinghouse Air Brake Technologies from $225.00 to $226.00 and gave the stock a "buy" rating in a report on Wednesday, January 15th. JPMorgan Chase & Co. lifted their price target on shares of Westinghouse Air Brake Technologies from $175.00 to $194.00 and gave the company a "neutral" rating in a report on Thursday, April 24th. Finally, Susquehanna dropped their price objective on shares of Westinghouse Air Brake Technologies from $218.00 to $210.00 and set a "positive" rating on the stock in a research note on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Westinghouse Air Brake Technologies presently has an average rating of "Moderate Buy" and an average target price of $211.83.
Check Out Our Latest Research Report on WAB
Westinghouse Air Brake Technologies Company Profile
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Get Free Report)
Westinghouse Air Brake Technologies Corporation, together with its subsidiaries, provides technology-based locomotives, equipment, systems, and services for the freight rail and passenger transit industries worldwide. It offers diesel-electric, battery, and liquid natural gas-powered locomotives; engines, electric motors, and propulsion systems; and marine and mining products.
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