BNP Paribas Financial Markets Lowers Stock Position in Westinghouse Air Brake Technologies Co. (NYSE:WAB)

BNP Paribas Financial Markets decreased its position in Westinghouse Air Brake Technologies Co. (NYSE:WAB) by 6.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 260,736 shares of the transportation company’s stock after selling 17,993 shares during the period. BNP Paribas Financial Markets’ holdings in Westinghouse Air Brake Technologies were worth $49,433,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS acquired a new position in Westinghouse Air Brake Technologies in the 4th quarter worth about $22,509,000. AGF Management Ltd. purchased a new stake in shares of Westinghouse Air Brake Technologies in the fourth quarter valued at approximately $10,566,000. DnB Asset Management AS raised its stake in shares of Westinghouse Air Brake Technologies by 0.9% during the 4th quarter. DnB Asset Management AS now owns 48,101 shares of the transportation company’s stock worth $9,119,000 after buying an additional 414 shares during the period. Pacer Advisors Inc. lifted its position in shares of Westinghouse Air Brake Technologies by 88.8% during the 4th quarter. Pacer Advisors Inc. now owns 31,811 shares of the transportation company’s stock valued at $6,031,000 after buying an additional 14,959 shares in the last quarter. Finally, Cibc World Markets Corp grew its stake in Westinghouse Air Brake Technologies by 14.4% in the 4th quarter. Cibc World Markets Corp now owns 27,266 shares of the transportation company’s stock valued at $5,169,000 after acquiring an additional 3,441 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Westinghouse Air Brake Technologies Stock Up 0.3 %

Shares of NYSE WAB opened at $189.77 on Thursday. The company has a current ratio of 1.30, a quick ratio of 0.69 and a debt-to-equity ratio of 0.34. The company has a 50-day moving average of $178.83 and a 200 day moving average of $190.30. Westinghouse Air Brake Technologies Co. has a 12-month low of $147.66 and a 12-month high of $210.88. The stock has a market cap of $32.48 billion, a PE ratio of 31.47, a P/E/G ratio of 1.50 and a beta of 1.12.

Westinghouse Air Brake Technologies (NYSE:WAB) last posted its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.03 by $0.25. The firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.61 billion. Westinghouse Air Brake Technologies had a return on equity of 12.78% and a net margin of 10.17%. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.89 earnings per share. As a group, sell-side analysts predict that Westinghouse Air Brake Technologies Co. will post 8.54 EPS for the current fiscal year.

Westinghouse Air Brake Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were given a dividend of $0.25 per share. This is a boost from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.53%. Westinghouse Air Brake Technologies’s payout ratio is presently 15.67%.

Analyst Ratings Changes

A number of equities analysts have weighed in on WAB shares. Stephens restated an “overweight” rating and set a $220.00 price objective on shares of Westinghouse Air Brake Technologies in a research report on Thursday, February 13th. The Goldman Sachs Group restated a “neutral” rating and set a $201.00 price target (up previously from $175.00) on shares of Westinghouse Air Brake Technologies in a research report on Wednesday, April 23rd. StockNews.com upgraded Westinghouse Air Brake Technologies from a “hold” rating to a “buy” rating in a report on Tuesday. Susquehanna cut their price objective on Westinghouse Air Brake Technologies from $218.00 to $210.00 and set a “positive” rating for the company in a research note on Thursday, April 24th. Finally, Bank of America raised their target price on Westinghouse Air Brake Technologies from $225.00 to $226.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $211.83.

Insider Activity at Westinghouse Air Brake Technologies

In other news, insider Pascal Schweitzer sold 4,000 shares of the company’s stock in a transaction on Friday, April 25th. The stock was sold at an average price of $184.63, for a total value of $738,520.00. Following the transaction, the insider now owns 11,955 shares of the company’s stock, valued at $2,207,251.65. This represents a 25.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Rafael Santana sold 886 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $185.07, for a total value of $163,972.02. Following the sale, the chief executive officer now directly owns 201,558 shares of the company’s stock, valued at $37,302,339.06. The trade was a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 85,105 shares of company stock valued at $16,276,216. 1.10% of the stock is owned by company insiders.

Westinghouse Air Brake Technologies 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.