Westinghouse Air Brake Technologies Corporation (NYSE:WAB) announced a quarterly dividend on Wednesday, May 10th, NASDAQ reports. Shareholders of record on Monday, August 14th will be paid a dividend of 0.12 per share by the transportation company on Monday, August 28th. This represents a $0.48 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Thursday, August 10th. This is an increase from Westinghouse Air Brake Technologies Corporation’s previous quarterly dividend of $0.10.

Westinghouse Air Brake Technologies Corporation has raised its dividend by an average of 29.1% per year over the last three years and has increased its dividend every year for the last 6 years. Westinghouse Air Brake Technologies Corporation has a payout ratio of 13.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Westinghouse Air Brake Technologies Corporation to earn $4.34 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 11.1%.

Shares of Westinghouse Air Brake Technologies Corporation (NYSE:WAB) traded up 1.65% during midday trading on Friday, reaching $74.64. The company’s stock had a trading volume of 559,976 shares. The stock has a 50 day moving average price of $87.12 and a 200-day moving average price of $83.29. Westinghouse Air Brake Technologies Corporation has a 52-week low of $68.14 and a 52-week high of $93.81. The company has a market capitalization of $7.16 billion, a price-to-earnings ratio of 26.26 and a beta of 1.03.

Westinghouse Air Brake Technologies Corporation (NYSE:WAB) last announced its quarterly earnings data on Tuesday, July 25th. The transportation company reported $0.80 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by $0.14. Westinghouse Air Brake Technologies Corporation had a return on equity of 13.38% and a net margin of 8.10%. The firm had revenue of $932.25 million for the quarter, compared to analyst estimates of $1 billion. During the same period in the previous year, the business posted $1.00 EPS. Westinghouse Air Brake Technologies Corporation’s revenue for the quarter was up 28.8% compared to the same quarter last year. Equities research analysts expect that Westinghouse Air Brake Technologies Corporation will post $3.57 EPS for the current year.

In other Westinghouse Air Brake Technologies Corporation news, Director Brian Hehir sold 2,234 shares of Westinghouse Air Brake Technologies Corporation stock in a transaction on Monday, May 15th. The stock was sold at an average price of $80.11, for a total value of $178,965.74. Following the completion of the transaction, the director now owns 24,905 shares in the company, valued at approximately $1,995,139.55. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 11.69% of the stock is owned by insiders.

WAB has been the topic of several recent analyst reports. Stifel Nicolaus boosted their price target on Westinghouse Air Brake Technologies Corporation from $90.00 to $92.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Buckingham Research initiated coverage on Westinghouse Air Brake Technologies Corporation in a research note on Wednesday, June 21st. They issued a “buy” rating and a $104.00 price target on the stock. BidaskClub raised Westinghouse Air Brake Technologies Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Wellington Shields raised Westinghouse Air Brake Technologies Corporation from a “hold” rating to a “gradually accumulate” rating in a research note on Friday, April 7th. Finally, Zacks Investment Research raised Westinghouse Air Brake Technologies Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $92.63.

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Westinghouse Air Brake Technologies Corporation Company Profile

Westinghouse Air Brake Technologies Corporation (Wabtec), doing business as Wabtec Corporation, is a provider of technology-based equipment and services for the global freight and transit rail industries. The Company’s segments include the Freight Segment and the Transit Segment. The Freight Segment primarily manufactures and services components for new and existing freight cars and locomotives, builds new switcher locomotives, rebuilds freight locomotives, supplies railway electronics, positive train control equipment, signal design and engineering services, and provides related heat exchange and cooling systems.

Dividend History for Westinghouse Air Brake Technologies Corporation (NYSE:WAB)

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