Westinghouse Air Brake Technologies Co. (NYSE:WAB) Director Sells $4,703,433.00 in Stock

Westinghouse Air Brake Technologies Co. (NYSE:WAB) Director Albert J. Neupaver sold 29,100 shares of Westinghouse Air Brake Technologies stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $161.63, for a total transaction of $4,703,433.00. Following the sale, the director now directly owns 595,412 shares in the company, valued at approximately $96,236,441.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Westinghouse Air Brake Technologies Stock Performance

Westinghouse Air Brake Technologies stock traded up $1.31 during midday trading on Thursday, reaching $161.85. 961,911 shares of the stock traded hands, compared to its average volume of 1,074,926. Westinghouse Air Brake Technologies Co. has a fifty-two week low of $91.89 and a fifty-two week high of $167.49. The firm has a market cap of $28.55 billion, a price-to-earnings ratio of 31.36, a PEG ratio of 1.42 and a beta of 1.36. The firm has a fifty day moving average price of $145.98 and a two-hundred day moving average price of $129.93. The company has a current ratio of 1.52, a quick ratio of 0.77 and a debt-to-equity ratio of 0.38.

Westinghouse Air Brake Technologies (NYSE:WAB) last released its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Westinghouse Air Brake Technologies had a net margin of 9.20% and a return on equity of 11.25%. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the previous year, the firm earned $1.28 EPS. Westinghouse Air Brake Technologies’s revenue was up 13.9% on a year-over-year basis. On average, equities research analysts forecast that Westinghouse Air Brake Technologies Co. will post 7.34 earnings per share for the current year.

Westinghouse Air Brake Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were issued a $0.20 dividend. This is an increase from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.17. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Thursday, February 22nd. Westinghouse Air Brake Technologies’s payout ratio is presently 15.63%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Bank of America raised their price objective on shares of Westinghouse Air Brake Technologies from $156.00 to $162.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Redburn Atlantic lowered shares of Westinghouse Air Brake Technologies from a “buy” rating to a “neutral” rating and set a $135.00 price objective for the company. in a report on Thursday, February 15th. Jefferies Financial Group raised shares of Westinghouse Air Brake Technologies from a “hold” rating to a “buy” rating and raised their price objective for the stock from $115.00 to $150.00 in a report on Thursday, January 11th. Morgan Stanley assumed coverage on shares of Westinghouse Air Brake Technologies in a report on Monday, January 8th. They issued an “overweight” rating and a $137.00 price target for the company. Finally, Wells Fargo & Company lifted their price target on shares of Westinghouse Air Brake Technologies from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $156.18.

Institutional Trading of Westinghouse Air Brake Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Greenleaf Trust grew its position in Westinghouse Air Brake Technologies by 4.3% during the first quarter. Greenleaf Trust now owns 3,201 shares of the transportation company’s stock valued at $466,000 after purchasing an additional 133 shares in the last quarter. First Hawaiian Bank grew its position in Westinghouse Air Brake Technologies by 4.4% in the first quarter. First Hawaiian Bank now owns 3,699 shares of the transportation company’s stock worth $539,000 after acquiring an additional 157 shares in the last quarter. Watchman Group Inc. grew its position in Westinghouse Air Brake Technologies by 0.9% in the third quarter. Watchman Group Inc. now owns 28,921 shares of the transportation company’s stock worth $3,073,000 after acquiring an additional 269 shares in the last quarter. V Square Quantitative Management LLC grew its position in Westinghouse Air Brake Technologies by 36.8% in the first quarter. V Square Quantitative Management LLC now owns 2,624 shares of the transportation company’s stock worth $382,000 after acquiring an additional 706 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. bought a new stake in Westinghouse Air Brake Technologies in the third quarter worth approximately $498,000. 91.69% of the stock is currently owned by institutional investors.

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.