Westinghouse Air Brake Technologies (NYSE:WAB) Reaches New 12-Month High – Here’s What Happened

Westinghouse Air Brake Technologies Co. (NYSE:WAB) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $192.90 and last traded at $192.83, with a volume of 631236 shares changing hands. The stock had previously closed at $188.80.

Wall Street Analysts Forecast Growth

WAB has been the topic of several research analyst reports. Stephens boosted 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 report on Thursday, October 24th. Bank of America upped their price objective on shares of Westinghouse Air Brake Technologies from $183.00 to $184.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. The Goldman Sachs Group lifted their target price on shares of Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Finally, Susquehanna upped their price target 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. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $171.80.

Westinghouse Air Brake Technologies Stock Performance

The firm has a market capitalization of $34.16 billion, a price-to-earnings ratio of 33.40, a PEG ratio of 1.47 and a beta of 1.27. The firm has a 50 day moving average price of $180.33 and a 200-day moving average price of $168.47. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 0.65.

Westinghouse Air Brake Technologies (NYSE:WAB) last posted its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.68 billion. During the same quarter last year, the company earned $1.70 EPS. Westinghouse Air Brake Technologies’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, sell-side analysts expect 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 company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be given 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 0.40%. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) is currently 13.33%.

Insider Activity at Westinghouse Air Brake Technologies

In other news, CAO John A. Mastalerz, Jr. sold 2,796 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $199.71, for a total transaction of $558,389.16. Following the completion of the transaction, the chief accounting officer now directly owns 5,683 shares of the company’s stock, valued at approximately $1,134,951.93. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Westinghouse Air Brake Technologies news, CTO Eric Gebhardt sold 7,422 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $156.32, for a total value of $1,160,207.04. Following the completion of the transaction, the chief technology officer now owns 22,411 shares in the company, valued at $3,503,287.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO John A. Mastalerz, Jr. sold 2,796 shares of Westinghouse Air Brake Technologies stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $199.71, for a total value of $558,389.16. Following the sale, the chief accounting officer now owns 5,683 shares in the company, valued at $1,134,951.93. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,984 shares of company stock valued at $11,200,586 over the last quarter. 1.10% of the stock is owned by insiders.

Institutional Trading of Westinghouse Air Brake Technologies

A number of large investors have recently made changes to their positions in the company. Rhumbline Advisers raised its holdings in shares of Westinghouse Air Brake Technologies by 2.1% in the second quarter. Rhumbline Advisers now owns 335,483 shares of the transportation company’s stock valued at $53,023,000 after buying an additional 7,012 shares during the last quarter. Border to Coast Pensions Partnership Ltd lifted its position in Westinghouse Air Brake Technologies by 4.5% during the 3rd quarter. Border to Coast Pensions Partnership Ltd now owns 201,011 shares of the transportation company’s stock worth $36,431,000 after acquiring an additional 8,575 shares during the period. Forsta AP Fonden grew its stake in shares of Westinghouse Air Brake Technologies by 64.5% in the 1st quarter. Forsta AP Fonden now owns 53,300 shares of the transportation company’s stock valued at $7,765,000 after purchasing an additional 20,900 shares during the last quarter. DNB Asset Management AS increased its holdings in shares of Westinghouse Air Brake Technologies by 3.9% in the second quarter. DNB Asset Management AS now owns 46,343 shares of the transportation company’s stock valued at $7,325,000 after purchasing an additional 1,729 shares during the period. Finally, Nisa Investment Advisors LLC raised its stake in shares of Westinghouse Air Brake Technologies by 12.3% during the second quarter. Nisa Investment Advisors LLC now owns 22,357 shares of the transportation company’s stock worth $3,534,000 after purchasing an additional 2,457 shares during the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

Westinghouse Air Brake Technologies Company 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.