Westinghouse Air Brake Technologies Corp (WAB) Plans Quarterly Dividend of $0.12
Westinghouse Air Brake Technologies Corp (NYSE:WAB) declared a quarterly dividend on Tuesday, October 16th, Zacks reports. Investors of record on Friday, November 16th will be given a dividend of 0.12 per share by the transportation company on Friday, November 30th. This represents a $0.48 annualized dividend and a yield of 0.55%. The ex-dividend date is Thursday, November 15th.
Westinghouse Air Brake Technologies has raised its dividend by an average of 30.1% annually over the last three years and has increased its dividend every year for the last 7 years. Westinghouse Air Brake Technologies has a payout ratio of 12.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Westinghouse Air Brake Technologies to earn $4.57 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 10.5%.
Westinghouse Air Brake Technologies stock opened at $87.05 on Friday. The company has a market cap of $8.42 billion, a P/E ratio of 25.38, a P/E/G ratio of 1.97 and a beta of 1.17. The company has a current ratio of 2.84, a quick ratio of 2.28 and a debt-to-equity ratio of 1.31. Westinghouse Air Brake Technologies has a one year low of $69.75 and a one year high of $115.40.
WAB has been the topic of several recent research reports. Wells Fargo & Co set a $105.00 price target on Westinghouse Air Brake Technologies and gave the stock a “buy” rating in a research report on Wednesday, October 31st. ValuEngine downgraded Westinghouse Air Brake Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. Stifel Nicolaus set a $110.00 price objective on Westinghouse Air Brake Technologies and gave the stock a “buy” rating in a report on Wednesday, October 31st. William Blair restated a “buy” rating on shares of Westinghouse Air Brake Technologies in a report on Monday, September 17th. Finally, Wellington Shields upgraded Westinghouse Air Brake Technologies from a “hold” rating to a “gradually accumulate” rating in a report on Monday, October 15th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Westinghouse Air Brake Technologies presently has a consensus rating of “Buy” and a consensus target price of $106.73.
In other news, Director William E. Kassling sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $109.27, for a total value of $874,160.00. Following the completion of the sale, the director now directly owns 81,444 shares in the company, valued at approximately $8,899,385.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert J. Brooks sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $110.56, for a total value of $2,211,200.00. Following the completion of the sale, the director now owns 19,200 shares of the company’s stock, valued at $2,122,752. The disclosure for this sale can be found here. 11.49% of the stock is owned by insiders.
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Westinghouse Air Brake Technologies Company Profile
Westinghouse Air Brake Technologies Corporation, doing business as Wabtec Corporation, provides technology-based equipment, systems, and services for the freight rail and passenger transit vehicle industries worldwide. It operates in two segments, Freight and Transit. The Freight segment manufactures and services components for new and existing locomotive and freight cars; supplies railway electronics and positive train control equipment; offers signal design and engineering services; builds switcher locomotives; rebuilds freight locomotives; and provides heat exchangers and cooling systems for rail and other industrial markets.
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