Westinghouse Air Brake Technologies (NYSE:WAB) Reaches New 1-Year High – What’s Next?

Westinghouse Air Brake Technologies Co. (NYSE:WAB)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $188.23 and last traded at $188.18, with a volume of 29082 shares traded. The stock had previously closed at $187.95.

Analyst Upgrades and Downgrades

Separately, Bank of America lifted their price target on Westinghouse Air Brake Technologies from $183.00 to $184.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.90.

Westinghouse Air Brake Technologies Stock Performance

The company has a quick ratio of 0.73, a current ratio of 1.38 and a debt-to-equity ratio of 0.33. The stock has a fifty day moving average price of $170.60 and a 200-day moving average price of $163.72. The firm has a market cap of $32.93 billion, a price-to-earnings ratio of 32.85, a price-to-earnings-growth ratio of 1.57 and a beta of 1.27.

Westinghouse Air Brake Technologies (NYSE:WAB) last announced its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.08. Westinghouse Air Brake Technologies had a net margin of 9.94% and a return on equity of 12.05%. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter in the prior year, the firm earned $1.41 EPS. Westinghouse Air Brake Technologies’s quarterly revenue was up 9.8% on a year-over-year basis. On average, analysts expect that Westinghouse Air Brake Technologies Co. will post 7.46 earnings per share for the current fiscal year.

Westinghouse Air Brake Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were issued a $0.20 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. Westinghouse Air Brake Technologies’s dividend payout ratio is currently 14.04%.

Insider Activity at Westinghouse Air Brake Technologies

In related news, EVP Nicole B. Theophilus sold 4,801 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $154.64, for a total transaction of $742,426.64. Following the sale, the executive vice president now owns 15,608 shares of the company’s stock, valued at approximately $2,413,621.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Nicole B. Theophilus sold 4,801 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $154.64, for a total transaction of $742,426.64. Following the sale, the executive vice president now owns 15,608 shares of the company’s stock, valued at $2,413,621.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Eric Gebhardt sold 7,422 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $156.32, for a total transaction of $1,160,207.04. Following the completion of the transaction, the chief technology officer now directly owns 22,411 shares of the company’s stock, valued at approximately $3,503,287.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,392 shares of company stock worth $2,754,390 over the last three months. 1.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Westinghouse Air Brake Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers grew its holdings in 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 purchasing an additional 7,012 shares during the period. BNP Paribas Financial Markets raised its position in shares of Westinghouse Air Brake Technologies by 107.8% in the 1st quarter. BNP Paribas Financial Markets now owns 170,248 shares of the transportation company’s stock worth $24,802,000 after buying an additional 88,325 shares during the period. Forsta AP Fonden boosted its holdings in Westinghouse Air Brake Technologies by 64.5% in the first quarter. Forsta AP Fonden now owns 53,300 shares of the transportation company’s stock valued at $7,765,000 after acquiring an additional 20,900 shares during the last quarter. DNB Asset Management AS grew its position in Westinghouse Air Brake Technologies by 3.9% during the second quarter. DNB Asset Management AS now owns 46,343 shares of the transportation company’s stock valued at $7,325,000 after acquiring an additional 1,729 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in 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 acquiring an additional 2,457 shares during 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.