Westinghouse Air Brake Technologies (NYSE:WAB) Sets New 1-Year High – Here’s What Happened

Westinghouse Air Brake Technologies Co. (NYSE:WAB) shares hit a new 52-week high on Wednesday . The company traded as high as $203.04 and last traded at $202.38, with a volume of 35652 shares traded. The stock had previously closed at $201.71.

Analyst Ratings Changes

WAB has been the topic of a number of recent analyst reports. KeyCorp boosted their target price on shares of Westinghouse Air Brake Technologies from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Susquehanna boosted their target price on shares of Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the company a “positive” rating in a research report on Monday, October 21st. The Goldman Sachs Group upped their price objective on shares of Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Finally, Stephens increased their target price on shares of Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Westinghouse Air Brake Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $175.30.

Westinghouse Air Brake Technologies Trading Down 1.1 %

The business has a fifty day moving average of $189.19 and a 200-day moving average of $172.14. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.65 and a current ratio of 1.30. The company has a market capitalization of $34.30 billion, a P/E ratio of 33.34, a PEG ratio of 1.44 and a beta of 1.27.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.13. Westinghouse Air Brake Technologies had a return on equity of 12.52% and a net margin of 10.25%. The business had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.68 billion. During the same period last year, the business earned $1.70 EPS. The business’s revenue was up 4.4% on a year-over-year basis. Analysts anticipate that Westinghouse Air Brake Technologies Co. will post 7.61 earnings per share for the current fiscal year.

Westinghouse Air Brake Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.40%. The ex-dividend date is Wednesday, November 13th. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) is 13.33%.

Insiders Place Their Bets

In other news, CAO John A. Mastalerz, Jr. sold 2,796 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $199.71, for a total transaction of $558,389.16. Following the transaction, the chief accounting officer now directly owns 5,683 shares of the company’s stock, valued at approximately $1,134,951.93. The trade was a 32.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Albert J. Neupaver sold 35,722 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $188.70, for a total transaction of $6,740,741.40. Following the completion of the transaction, the director now owns 614,447 shares of the company’s stock, valued at $115,946,148.90. This trade represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,393 shares of company stock valued at $9,350,243 in the last quarter. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Westinghouse Air Brake Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of WAB. Wilmington Savings Fund Society FSB bought a new position in Westinghouse Air Brake Technologies in the 3rd quarter worth about $386,000. iA Global Asset Management Inc. lifted its stake in shares of Westinghouse Air Brake Technologies by 21.5% in the third quarter. iA Global Asset Management Inc. now owns 18,613 shares of the transportation company’s stock worth $3,383,000 after buying an additional 3,288 shares in the last quarter. Erste Asset Management GmbH bought a new position in shares of Westinghouse Air Brake Technologies in the third quarter worth approximately $61,474,000. BNP Paribas Financial Markets grew its holdings in shares of Westinghouse Air Brake Technologies by 5.2% during the third quarter. BNP Paribas Financial Markets now owns 278,729 shares of the transportation company’s stock valued at $50,665,000 after buying an additional 13,683 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd increased its position in shares of Westinghouse Air Brake Technologies by 10.4% during the third quarter. Harvest Fund Management Co. Ltd now owns 1,820 shares of the transportation company’s stock valued at $331,000 after acquiring an additional 172 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

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.