Westinghouse Air Brake Technologies Co. (NYSE:WAB) Insider Sells $637,373.75 in Stock

Westinghouse Air Brake Technologies Co. (NYSE:WAB) insider Rogerio Mendonca sold 3,965 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $160.75, for a total transaction of $637,373.75. Following the sale, the insider now owns 12,464 shares of the company’s stock, valued at $2,003,588. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Westinghouse Air Brake Technologies Stock Performance

NYSE WAB traded down $1.18 during midday trading on Monday, hitting $163.18. The company had a trading volume of 143,866 shares, compared to its average volume of 1,051,984. The company has a quick ratio of 0.77, a current ratio of 1.52 and a debt-to-equity ratio of 0.38. The stock has a market cap of $28.78 billion, a price-to-earnings ratio of 32.10, a P/E/G ratio of 1.45 and a beta of 1.40. The firm has a fifty day simple moving average of $144.38 and a two-hundred day simple moving average of $128.89. Westinghouse Air Brake Technologies Co. has a fifty-two week low of $91.89 and a fifty-two week high of $167.49.

Westinghouse Air Brake Technologies (NYSE:WAB) last posted its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.40 billion. Westinghouse Air Brake Technologies had a net margin of 9.20% and a return on equity of 11.25%. The business’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period last year, the business posted $1.28 EPS. Equities analysts forecast that Westinghouse Air Brake Technologies Co. will post 7.34 earnings per share for the current fiscal year.

Westinghouse Air Brake Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were given a dividend of $0.20 per share. This is a positive change from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.17. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Thursday, February 22nd. Westinghouse Air Brake Technologies’s payout ratio is 15.63%.

Institutional Trading of Westinghouse Air Brake Technologies

Institutional investors have recently made changes to their positions in the business. iA Global Asset Management Inc. acquired a new position in Westinghouse Air Brake Technologies in the third quarter valued at about $1,915,000. First Hawaiian Bank lifted its position in shares of Westinghouse Air Brake Technologies by 49.1% during the fourth quarter. First Hawaiian Bank now owns 3,542 shares of the transportation company’s stock worth $449,000 after purchasing an additional 1,167 shares in the last quarter. Handelsinvest Investeringsforvaltning acquired a new position in shares of Westinghouse Air Brake Technologies during the fourth quarter worth approximately $1,030,000. Watchman Group Inc. lifted its position in shares of Westinghouse Air Brake Technologies by 0.9% during the third quarter. Watchman Group Inc. now owns 28,921 shares of the transportation company’s stock worth $3,073,000 after purchasing an additional 269 shares in the last quarter. Finally, Applied Finance Capital Management LLC lifted its position in shares of Westinghouse Air Brake Technologies by 5.7% during the third quarter. Applied Finance Capital Management LLC now owns 145,099 shares of the transportation company’s stock worth $15,420,000 after purchasing an additional 7,785 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on WAB shares. KeyCorp raised their price objective on shares of Westinghouse Air Brake Technologies from $155.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday. Stephens lifted their target price on shares of Westinghouse Air Brake Technologies from $165.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday. Bank of America lifted their target price on shares of Westinghouse Air Brake Technologies from $156.00 to $162.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Morgan Stanley began coverage on shares of Westinghouse Air Brake Technologies in a research note on Monday, January 8th. They set an “overweight” rating and a $137.00 target price for the company. Finally, Jefferies Financial Group upgraded shares of Westinghouse Air Brake Technologies from a “hold” rating to a “buy” rating and raised their price target for the company from $115.00 to $150.00 in a report on Thursday, January 11th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.18.

Westinghouse Air Brake Technologies Company Profile

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.