Westinghouse Air Brake Technologies (NYSE:WAB) Hits New 12-Month High Following Analyst Upgrade

Westinghouse Air Brake Technologies Co. (NYSE:WAB)’s stock price reached a new 52-week high during trading on Monday after Susquehanna raised their price target on the stock from $190.00 to $220.00. Susquehanna currently has a positive rating on the stock. Westinghouse Air Brake Technologies traded as high as $191.99 and last traded at $191.76, with a volume of 15888 shares traded. The stock had previously closed at $191.15.

Separately, Bank of America lifted 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. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $166.90.

Insider Transactions at Westinghouse Air Brake Technologies

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of WAB. BNP Paribas Financial Markets increased its position in Westinghouse Air Brake Technologies by 107.8% during the first quarter. BNP Paribas Financial Markets now owns 170,248 shares of the transportation company’s stock worth $24,802,000 after acquiring an additional 88,325 shares during the period. Forsta AP Fonden increased its holdings in shares of Westinghouse Air Brake Technologies by 64.5% during the 1st quarter. Forsta AP Fonden now owns 53,300 shares of the transportation company’s stock worth $7,765,000 after purchasing an additional 20,900 shares during the period. Plato Investment Management Ltd lifted its stake in shares of Westinghouse Air Brake Technologies by 59,168.4% in the first quarter. Plato Investment Management Ltd now owns 11,261 shares of the transportation company’s stock valued at $1,641,000 after buying an additional 11,242 shares during the period. Rhumbline Advisers increased its stake in Westinghouse Air Brake Technologies by 2.1% during the second quarter. Rhumbline Advisers now owns 335,483 shares of the transportation company’s stock valued at $53,023,000 after acquiring an additional 7,012 shares during the period. Finally, Nisa Investment Advisors LLC lifted its position in shares of Westinghouse Air Brake Technologies by 12.3% in the 2nd 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 period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Westinghouse Air Brake Technologies Price Performance

The company has a market cap of $33.64 billion, a price-to-earnings ratio of 33.57, a price-to-earnings-growth ratio of 1.59 and a beta of 1.27. The company has a current ratio of 1.38, a quick ratio of 0.73 and a debt-to-equity ratio of 0.33. The company has a fifty day moving average price of $172.75 and a two-hundred day moving average price of $164.53.

Westinghouse Air Brake Technologies (NYSE:WAB) last released 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. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.64 billion. Westinghouse Air Brake Technologies had a net margin of 9.94% and a return on equity of 12.05%. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the firm earned $1.41 EPS. As a group, equities research analysts anticipate that Westinghouse Air Brake Technologies Co. will post 7.46 EPS for the current fiscal year.

Westinghouse Air Brake Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend is Wednesday, November 13th. Westinghouse Air Brake Technologies’s dividend payout ratio is 14.04%.

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.