Plato Investment Management Ltd Acquires 261 Shares of Westinghouse Air Brake Technologies Co. (NYSE:WAB)

Plato Investment Management Ltd boosted its holdings in Westinghouse Air Brake Technologies Co. (NYSE:WAB) by 2.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,522 shares of the transportation company’s stock after purchasing an additional 261 shares during the quarter. Plato Investment Management Ltd’s holdings in Westinghouse Air Brake Technologies were worth $1,821,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in WAB. Massmutual Trust Co. FSB ADV grew its stake 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 buying an additional 118 shares during the last quarter. Dorsey & Whitney Trust CO LLC bought a new position in shares of Westinghouse Air Brake Technologies during the first quarter valued at $204,000. V Square Quantitative Management LLC raised its position in shares of Westinghouse Air Brake Technologies by 36.8% in the 1st quarter. V Square Quantitative Management LLC now owns 2,624 shares of the transportation company’s stock worth $382,000 after purchasing an additional 706 shares during the last quarter. Greenleaf Trust raised its position in shares of Westinghouse Air Brake Technologies by 4.3% in the 1st quarter. Greenleaf Trust now owns 3,201 shares of the transportation company’s stock worth $466,000 after purchasing an additional 133 shares during the last quarter. Finally, First Hawaiian Bank boosted its stake in Westinghouse Air Brake Technologies by 4.4% in the 1st quarter. First Hawaiian Bank now owns 3,699 shares of the transportation company’s stock worth $539,000 after purchasing an additional 157 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.

Wall Street Analysts Forecast Growth

WAB has been the subject of several recent analyst reports. 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 report on Monday, July 22nd. The Goldman Sachs Group upped their price objective on Westinghouse Air Brake Technologies from $160.00 to $181.00 and gave the company a “neutral” rating in a research report on Tuesday, June 4th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Westinghouse Air Brake Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $163.90.

Westinghouse Air Brake Technologies Price Performance

Shares of WAB opened at $168.98 on Monday. The firm has a fifty day simple moving average of $161.62 and a two-hundred day simple moving average of $157.75. The firm has a market cap of $29.81 billion, a PE ratio of 33.00, a P/E/G ratio of 1.39 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. Westinghouse Air Brake Technologies Co. has a 1-year low of $98.70 and a 1-year high of $172.00.

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

Westinghouse Air Brake Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. Westinghouse Air Brake Technologies’s dividend payout ratio is currently 15.63%.

Insiders Place Their Bets

In other news, insider Alicia Hammersmith sold 4,169 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $165.54, for a total transaction of $690,136.26. Following the completion of the sale, the insider now owns 5,606 shares of the company’s stock, valued at approximately $928,017.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Westinghouse Air Brake Technologies news, CTO Eric Gebhardt sold 7,422 shares of the company’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 value of $1,160,207.04. Following the completion of the transaction, the chief technology officer now directly owns 22,411 shares in the company, valued at $3,503,287.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Alicia Hammersmith sold 4,169 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $165.54, for a total transaction of $690,136.26. Following the completion of the sale, the insider now directly owns 5,606 shares of the company’s stock, valued at $928,017.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,392 shares of company stock worth $2,754,390. Company insiders own 1.10% of the company’s stock.

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.