Westinghouse Air Brake Technologies Co. (NYSE:WAB) Shares Sold by USA Financial Formulas

USA Financial Formulas cut its holdings in Westinghouse Air Brake Technologies Co. (NYSE:WAB) by 13.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,782 shares of the transportation company’s stock after selling 718 shares during the quarter. USA Financial Formulas’ holdings in Westinghouse Air Brake Technologies were worth $907,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Erste Asset Management GmbH purchased a new position in shares of Westinghouse Air Brake Technologies in the third quarter worth $61,474,000. BNP Paribas Financial Markets grew its stake in shares of Westinghouse Air Brake Technologies by 5.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 278,729 shares of the transportation company’s stock worth $50,665,000 after purchasing an additional 13,683 shares during the period. Border to Coast Pensions Partnership Ltd increased its holdings in Westinghouse Air Brake Technologies by 4.5% in the third quarter. Border to Coast Pensions Partnership Ltd now owns 201,011 shares of the transportation company’s stock valued at $36,431,000 after buying an additional 8,575 shares in the last quarter. Lord Abbett & CO. LLC acquired a new position in Westinghouse Air Brake Technologies in the 3rd quarter worth about $24,630,000. Finally, Forsta AP Fonden increased its holdings in Westinghouse Air Brake Technologies by 4.3% in the 3rd quarter. Forsta AP Fonden now owns 50,600 shares of the transportation company’s stock worth $9,198,000 after acquiring an additional 2,100 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Westinghouse Air Brake Technologies Stock Up 1.2 %

Shares of NYSE WAB opened at $200.53 on Thursday. The company has a quick ratio of 0.65, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The business’s 50 day moving average is $196.60 and its two-hundred day moving average is $179.88. Westinghouse Air Brake Technologies Co. has a 52-week low of $125.56 and a 52-week high of $207.51. The firm has a market cap of $34.47 billion, a price-to-earnings ratio of 33.42, a PEG ratio of 1.21 and a beta of 1.27.

Westinghouse Air Brake Technologies (NYSE:WAB) last posted its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $2.00 earnings per share (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 firm had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.68 billion. During the same quarter in the previous year, the business earned $1.70 EPS. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. Research analysts predict that Westinghouse Air Brake Technologies Co. will post 7.6 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have commented on WAB. Bank of America increased their target price on Westinghouse Air Brake Technologies from $225.00 to $226.00 and gave the company a “buy” rating in a report on Wednesday. Stephens boosted their price target on shares of Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. KeyCorp lifted 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 research note on Wednesday, November 13th. Susquehanna raised their price target on shares of Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the stock a “positive” rating in a report on Monday, October 21st. Finally, The Goldman Sachs Group upped their price objective on Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Westinghouse Air Brake Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $188.50.

Insiders Place Their Bets

In other Westinghouse Air Brake Technologies news, CAO John A. Mastalerz, Jr. sold 2,796 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $199.71, for a total value of $558,389.16. Following the completion of the transaction, the chief accounting officer now owns 5,683 shares in the company, valued at $1,134,951.93. The trade was a 32.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 value of $6,740,741.40. Following the sale, the director now directly owns 614,447 shares in the company, valued at $115,946,148.90. This represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,393 shares of company stock worth $9,350,243 over the last three months. Company insiders own 1.10% 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.