Wabtec (NYSE:WAB) Announces $0.25 Quarterly Dividend

Wabtec (NYSE:WAB) announced a quarterly dividend on Thursday, July 17th, RTT News reports. Stockholders of record on Thursday, August 14th will be paid a dividend of 0.25 per share by the transportation company on Thursday, August 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.47%.

Wabtec has a dividend payout ratio of 10.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Wabtec to earn $9.60 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 10.4%.

Wabtec Trading Up 0.5%

Shares of WAB stock opened at $212.68 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.34 and a debt-to-equity ratio of 0.34. Wabtec has a fifty-two week low of $147.66 and a fifty-two week high of $216.10. The firm’s 50 day moving average price is $205.46 and its two-hundred day moving average price is $193.50. The stock has a market cap of $36.40 billion, a price-to-earnings ratio of 33.34, a price-to-earnings-growth ratio of 1.51 and a beta of 1.12.

Wabtec (NYSE:WAB) last issued its earnings results on Wednesday, April 23rd. The transportation company reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.25. The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.61 billion. Wabtec had a return on equity of 13.35% and a net margin of 10.53%. Wabtec’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.89 earnings per share. On average, analysts anticipate that Wabtec will post 8.54 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on WAB. Wall Street Zen raised Wabtec from a “hold” rating to a “buy” rating in a report on Saturday, July 5th. Susquehanna cut their price target on shares of Wabtec from $218.00 to $210.00 and set a “positive” rating on the stock in a report on Thursday, April 24th. JPMorgan Chase & Co. boosted their target price on shares of Wabtec from $175.00 to $194.00 and gave the stock a “neutral” rating in a research report on Thursday, April 24th. Bank of America increased their target price on Wabtec from $231.00 to $236.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $240.00 price target (up from $220.00) on shares of Wabtec in a research report on Tuesday, June 24th. Two 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, Wabtec has a consensus rating of “Moderate Buy” and a consensus price target of $216.83.

Insider Activity at Wabtec

In other Wabtec news, CEO Rafael Santana sold 68,833 shares of the business’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $191.70, for a total transaction of $13,195,286.10. Following the sale, the chief executive officer directly owned 145,616 shares of the company’s stock, valued at $27,914,587.20. The trade was a 32.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Eric Gebhardt sold 6,151 shares of Wabtec stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $202.39, for a total value of $1,244,900.89. Following the transaction, the chief technology officer owned 18,697 shares of the company’s stock, valued at $3,784,085.83. The trade was a 24.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold 103,474 shares of company stock worth $20,022,025 in the last ninety days. Company insiders own 1.10% of the company’s stock.

Wabtec 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.