Westinghouse Air Brake Technologies Co. Announces Quarterly Dividend of $0.15 (NYSE:WAB)

Westinghouse Air Brake Technologies Co. (NYSE:WABGet Rating) announced a quarterly dividend on Wednesday, May 11th, RTT News reports. Stockholders of record on Friday, May 20th will be paid a dividend of 0.15 per share by the transportation company on Friday, May 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.69%.

Westinghouse Air Brake Technologies has decreased its dividend by an average of 9.1% annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Westinghouse Air Brake Technologies has a payout ratio of 10.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Westinghouse Air Brake Technologies to earn $5.57 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 10.8%.

Shares of NYSE:WAB traded down $0.10 during midday trading on Wednesday, reaching $86.58. The company’s stock had a trading volume of 22,873 shares, compared to its average volume of 1,164,004. Westinghouse Air Brake Technologies has a fifty-two week low of $76.30 and a fifty-two week high of $100.04. The company has a market capitalization of $15.81 billion, a P/E ratio of 27.34, a P/E/G ratio of 1.44 and a beta of 1.51. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.36 and a quick ratio of 0.72. The business’s fifty day simple moving average is $92.13 and its 200-day simple moving average is $92.11.

Westinghouse Air Brake Technologies (NYSE:WABGet Rating) last posted its quarterly earnings results on Wednesday, April 27th. The transportation company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.01. Westinghouse Air Brake Technologies had a return on equity of 8.27% and a net margin of 7.51%. The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter last year, the business earned $0.89 earnings per share. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, analysts forecast that Westinghouse Air Brake Technologies will post 4.93 earnings per share for the current fiscal year.

In other Westinghouse Air Brake Technologies news, Director Albert J. Neupaver sold 55,877 shares of the company’s stock in a transaction dated Tuesday, February 22nd. The stock was sold at an average price of $96.80, for a total value of $5,408,893.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO John A. Mastalerz, Jr. sold 5,012 shares of the company’s stock in a transaction dated Friday, February 18th. The stock was sold at an average price of $95.34, for a total value of $477,844.08. The disclosure for this sale can be found here. Insiders have sold a total of 65,889 shares of company stock valued at $6,363,538 in the last three months. 1.22% of the stock is owned by insiders.

An institutional investor recently raised its position in Westinghouse Air Brake Technologies stock. Metropolitan Life Insurance Co NY lifted its holdings in shares of Westinghouse Air Brake Technologies Co. (NYSE:WABGet Rating) by 14.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,201 shares of the transportation company’s stock after purchasing an additional 2,730 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Westinghouse Air Brake Technologies were worth $1,953,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 91.70% of the company’s stock.

Several equities analysts have recently weighed in on WAB shares. Wolfe Research upgraded Westinghouse Air Brake Technologies from an “underperform” rating to a “market perform” rating in a report on Thursday, April 28th. StockNews.com raised Westinghouse Air Brake Technologies from a “hold” rating to a “buy” rating in a research report on Sunday, May 1st. Finally, Stephens lifted their target price on Westinghouse Air Brake Technologies from $105.00 to $110.00 and gave the stock an “overweight” rating in a research note on Thursday, February 17th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $99.86.

Westinghouse Air Brake Technologies Company Profile (Get Rating)

Westinghouse Air Brake Technologies Corporation provides technology-based equipment, systems, and services for the freight rail and passenger transit industries worldwide. It operates through two segments, Freight and Transit. The Freight segment manufactures and services components for new and existing freight cars and locomotives; builds new commuter locomotives; rebuilds freight locomotives; supplies railway electronics, positive train control equipment, signal design, and engineering services; and provides related heat exchange and cooling systems.

See Also

Dividend History for Westinghouse Air Brake Technologies (NYSE:WAB)

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