Westinghouse Air Brake Technologies Co. (NYSE:WAB) Stock Holdings Trimmed by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its position in Westinghouse Air Brake Technologies Co. (NYSE:WAB) by 6.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 129,031 shares of the transportation company’s stock after selling 9,524 shares during the quarter. New York State Common Retirement Fund owned approximately 0.08% of Westinghouse Air Brake Technologies worth $23,454,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pinnacle Bancorp Inc. increased its stake in Westinghouse Air Brake Technologies by 55.0% during the third quarter. Pinnacle Bancorp Inc. now owns 155 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 55 shares during the last quarter. Eastern Bank bought a new position in shares of Westinghouse Air Brake Technologies during the third quarter valued at approximately $33,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Westinghouse Air Brake Technologies by 26.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 568 shares of the transportation company’s stock worth $90,000 after purchasing an additional 118 shares during the last quarter. Dorsey & Whitney Trust CO LLC acquired a new position in shares of Westinghouse Air Brake Technologies during the first quarter worth approximately $204,000. Finally, Bridges Investment Management Inc. bought a new stake in shares of Westinghouse Air Brake Technologies during the second quarter valued at about $360,000. 91.69% of the stock is owned by institutional investors and hedge funds.

Westinghouse Air Brake Technologies Trading Down 0.6 %

NYSE WAB opened at $186.84 on Monday. The company has a market capitalization of $32.12 billion, a PE ratio of 31.14, a price-to-earnings-growth ratio of 1.46 and a beta of 1.27. Westinghouse Air Brake Technologies Co. has a 1-year low of $107.24 and a 1-year high of $192.48. The company has a current ratio of 1.30, a quick ratio of 0.65 and a debt-to-equity ratio of 0.34. The firm’s fifty day simple moving average is $178.60 and its 200-day simple moving average is $167.43.

Westinghouse Air Brake Technologies (NYSE:WAB) last announced its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $2.00 EPS 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 during the quarter, compared to analysts’ expectations of $2.68 billion. During the same quarter in the previous year, the business posted $1.70 EPS. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Westinghouse Air Brake Technologies Co. will post 7.58 earnings per share for the current fiscal year.

Westinghouse Air Brake Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) is 13.33%.

Insider Activity

In related news, Director Albert J. Neupaver sold 35,722 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $188.70, for a total value of $6,740,741.40. Following the completion of the sale, the director now directly owns 614,447 shares in the company, valued at approximately $115,946,148.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, VP David L. Deninno sold 10,000 shares of Westinghouse Air Brake Technologies stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $188.60, for a total value of $1,886,000.00. Following the transaction, the vice president now owns 55,352 shares of the company’s stock, valued at $10,439,387.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Albert J. Neupaver sold 35,722 shares of the business’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 sale, the director now owns 614,447 shares of the company’s stock, valued at $115,946,148.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,989 shares of company stock worth $11,384,624. 1.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WAB. Susquehanna raised their price objective on Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the stock a “positive” rating in a research note on Monday, October 21st. Stephens upped their price objective on shares of Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Bank of America lifted their target price on shares of Westinghouse Air Brake Technologies from $183.00 to $184.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, The Goldman Sachs Group lifted 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. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $171.80.

Westinghouse Air Brake Technologies 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.