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 business’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $160.75, for a total transaction of $637,373.75. Following the transaction, the insider now directly owns 12,464 shares of the company’s stock, valued at $2,003,588. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Westinghouse Air Brake Technologies Price Performance

Shares of NYSE:WAB opened at $160.54 on Thursday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.77 and a current ratio of 1.52. The firm has a fifty day moving average price of $145.49 and a 200 day moving average price of $129.72. Westinghouse Air Brake Technologies Co. has a fifty-two week low of $91.89 and a fifty-two week high of $167.49. The firm has a market cap of $28.32 billion, a price-to-earnings ratio of 31.38, a P/E/G ratio of 1.44 and a beta of 1.40.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its earnings results on Wednesday, April 24th. The transportation company reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Westinghouse Air Brake Technologies had a net margin of 9.20% and a return on equity of 11.25%. The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the prior year, the business earned $1.28 earnings per share. Westinghouse Air Brake Technologies’s revenue for the quarter was up 13.9% on a year-over-year basis. As a group, sell-side analysts expect 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 business also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors 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. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.50%. Westinghouse Air Brake Technologies’s dividend payout ratio is currently 15.63%.

Hedge Funds Weigh In On Westinghouse Air Brake Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Applied Finance Capital Management LLC lifted its position in 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 valued at $15,420,000 after purchasing an additional 7,785 shares during the last quarter. Watchman Group Inc. lifted its position in 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 valued at $3,073,000 after purchasing an additional 269 shares during the last quarter. V Square Quantitative Management LLC bought a new position in Westinghouse Air Brake Technologies during the third quarter valued at $204,000. Industrial Alliance Investment Management Inc. bought a new position in Westinghouse Air Brake Technologies during the third quarter valued at $498,000. Finally, iA Global Asset Management Inc. bought a new position in Westinghouse Air Brake Technologies during the third quarter valued at $1,915,000. Institutional investors own 91.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WAB. Bank of America upped 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 report on Monday, April 15th. Redburn Atlantic cut shares of Westinghouse Air Brake Technologies from a “buy” rating to a “neutral” rating and set a $135.00 target price for the company. in a report on Thursday, February 15th. Jefferies Financial Group raised shares of Westinghouse Air Brake Technologies from a “hold” rating to a “buy” rating and upped their target price for the company from $115.00 to $150.00 in a report on Thursday, January 11th. TD Cowen upped their target price on shares of Westinghouse Air Brake Technologies from $130.00 to $147.00 and gave the company a “hold” rating in a report on Thursday, April 25th. Finally, Wells Fargo & Company upped their target price on shares of Westinghouse Air Brake Technologies from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $156.18.

About Westinghouse Air Brake Technologies

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.