Insider Selling: Westinghouse Air Brake Technologies Co. (NYSE:WAB) VP Sells 3,016 Shares of Stock

Westinghouse Air Brake Technologies Co. (NYSE:WAB) VP David L. Deninno sold 3,016 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $161.48, for a total value of $487,023.68. Following the completion of the transaction, the vice president now directly owns 65,352 shares in the company, valued at $10,553,040.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Westinghouse Air Brake Technologies Price Performance

WAB opened at $163.24 on Tuesday. The company has a market capitalization of $28.79 billion, a price-to-earnings ratio of 31.88, a PEG ratio of 1.45 and a beta of 1.40. The company has a quick ratio of 0.77, a current ratio of 1.52 and a debt-to-equity ratio of 0.38. The firm has a 50-day moving average price of $144.96 and a 200-day moving average price of $129.30. Westinghouse Air Brake Technologies Co. has a twelve month low of $91.89 and a twelve month high of $167.49.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its earnings results on Wednesday, April 24th. The transportation company reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The business had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.40 billion. Westinghouse Air Brake Technologies had a net margin of 9.20% and a return on equity of 11.25%. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.28 EPS. Equities analysts expect that Westinghouse Air Brake Technologies Co. will post 7.34 EPS for the current year.

Westinghouse Air Brake Technologies Increases Dividend

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

Hedge Funds Weigh In On Westinghouse Air Brake Technologies

Several hedge funds have recently bought and sold shares of the company. iA Global Asset Management Inc. purchased a new position in shares of Westinghouse Air Brake Technologies during the 3rd quarter valued at $1,915,000. First Hawaiian Bank raised its holdings in shares of Westinghouse Air Brake Technologies by 49.1% in the 4th quarter. First Hawaiian Bank now owns 3,542 shares of the transportation company’s stock valued at $449,000 after acquiring an additional 1,167 shares in the last quarter. Handelsinvest Investeringsforvaltning bought a new stake in shares of Westinghouse Air Brake Technologies during the 4th quarter valued at about $1,030,000. Watchman Group Inc. increased its position in shares of 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 purchasing an additional 269 shares during the last quarter. Finally, Applied Finance Capital Management LLC raised its stake in Westinghouse Air Brake Technologies by 5.7% in the third quarter. Applied Finance Capital Management LLC now owns 145,099 shares of the transportation company’s stock valued at $15,420,000 after purchasing an additional 7,785 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Stephens increased their target price on shares of Westinghouse Air Brake Technologies from $165.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Wells Fargo & Company boosted 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 research note on Thursday, February 15th. TD Cowen lifted their price objective on shares of Westinghouse Air Brake Technologies from $130.00 to $147.00 and gave the company a “hold” rating in a report on Thursday, April 25th. KeyCorp raised their price target on shares of Westinghouse Air Brake Technologies from $155.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Finally, Bank of America increased their price target on shares of Westinghouse Air Brake Technologies from $156.00 to $162.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Westinghouse Air Brake Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $156.18.

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.