Westinghouse Air Brake Technologies (NYSE:WAB) Sets New 52-Week High – Here’s Why

Westinghouse Air Brake Technologies Co. (NYSE:WAB)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $203.24 and last traded at $202.35, with a volume of 37367 shares changing hands. The stock had previously closed at $202.70.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on WAB shares. Susquehanna increased 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 research report on Monday, October 21st. Stephens increased their target price on shares of Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. KeyCorp lifted their price objective on Westinghouse Air Brake Technologies from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Finally, The Goldman Sachs Group upped their target price on Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $175.30.

Westinghouse Air Brake Technologies Stock Performance

The stock’s 50-day moving average price is $191.80 and its 200 day moving average price is $173.52. 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 company has a market cap of $34.97 billion, a P/E ratio of 33.78, a price-to-earnings-growth ratio of 1.45 and a beta of 1.26.

Westinghouse Air Brake Technologies (NYSE:WAB) last announced its earnings results on Wednesday, October 23rd. The transportation company reported $2.00 EPS for the quarter, topping the consensus estimate of $1.87 by $0.13. Westinghouse Air Brake Technologies had a net margin of 10.25% and a return on equity of 12.52%. The firm had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.68 billion. During the same quarter last year, the firm posted $1.70 EPS. The business’s quarterly revenue was up 4.4% on a year-over-year basis. As a group, research analysts expect that Westinghouse Air Brake Technologies Co. will post 7.61 EPS for the current fiscal year.

Westinghouse Air Brake Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.39%. The ex-dividend date was Wednesday, November 13th. Westinghouse Air Brake Technologies’s payout ratio is currently 13.33%.

Insiders Place Their Bets

In other news, VP David L. Deninno sold 10,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $188.60, for a total transaction of $1,886,000.00. Following the completion of the transaction, the vice president now directly owns 55,352 shares of the company’s stock, valued at approximately $10,439,387.20. This trade represents a 15.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO John A. Mastalerz, Jr. sold 2,796 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $199.71, for a total transaction of $558,389.16. Following the completion of the sale, the chief accounting officer now directly owns 5,683 shares in the company, valued at approximately $1,134,951.93. The trade was a 32.98 % 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 in the last ninety days. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WAB. Pinnacle Bancorp Inc. grew its holdings in shares of Westinghouse Air Brake Technologies by 55.0% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 155 shares of the transportation company’s stock worth $28,000 after purchasing an additional 55 shares during the last quarter. Eastern Bank bought a new stake in Westinghouse Air Brake Technologies during the third quarter worth about $33,000. Garde Capital Inc. acquired a new stake in shares of Westinghouse Air Brake Technologies during the third quarter worth approximately $110,000. Camden National Bank bought a new position in shares of Westinghouse Air Brake Technologies in the third quarter valued at approximately $222,000. Finally, Harvest Fund Management Co. Ltd boosted its holdings in shares of Westinghouse Air Brake Technologies by 10.4% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,820 shares of the transportation company’s stock worth $331,000 after acquiring an additional 172 shares in the last quarter. 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.