Westinghouse Air Brake Technologies (NYSE:WAB) Hits New 12-Month High at $167.49

Westinghouse Air Brake Technologies Co. (NYSE:WAB) shares reached a new 52-week high on Wednesday . The company traded as high as $167.49 and last traded at $162.74, with a volume of 780741 shares traded. The stock had previously closed at $148.48.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on WAB shares. Susquehanna increased their target price on shares of Westinghouse Air Brake Technologies from $150.00 to $160.00 and gave the company a “positive” rating in a research report on Thursday, February 15th. KeyCorp boosted their target price on shares of Westinghouse Air Brake Technologies from $133.00 to $155.00 and gave the company an “overweight” rating in a research report on Thursday, February 15th. Morgan Stanley initiated coverage on shares of Westinghouse Air Brake Technologies in a research report on Monday, January 8th. They set an “overweight” rating and a $137.00 target price for the company. The Goldman Sachs Group increased their target price on shares of Westinghouse Air Brake Technologies from $138.00 to $152.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Finally, Jefferies Financial Group raised shares of Westinghouse Air Brake Technologies from a “hold” rating to a “buy” rating and increased their price objective for the company from $115.00 to $150.00 in a research report on Thursday, January 11th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $146.91.

Westinghouse Air Brake Technologies Stock Performance

The company has a market cap of $28.85 billion, a price-to-earnings ratio of 36.27, a P/E/G ratio of 1.68 and a beta of 1.40. The company has a current ratio of 1.20, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31. The stock has a 50 day moving average price of $142.63 and a two-hundred day moving average price of $127.64.

Westinghouse Air Brake Technologies (NYSE:WAB) last released its quarterly earnings results on Wednesday, February 14th. The transportation company reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.04). The business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.48 billion. Westinghouse Air Brake Technologies had a net margin of 8.42% and a return on equity of 10.34%. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.30 earnings per share. Analysts predict that Westinghouse Air Brake Technologies Co. will post 6.73 EPS for the current year.

Westinghouse Air Brake Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were given a dividend of $0.20 per share. 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 dividend payout ratio is currently 17.70%.

Insider Activity

In other Westinghouse Air Brake Technologies news, CEO Rafael Santana sold 40,219 shares of Westinghouse Air Brake Technologies stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $140.62, for a total value of $5,655,595.78. Following the completion of the transaction, the chief executive officer now directly owns 123,019 shares of the company’s stock, valued at $17,298,931.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Westinghouse Air Brake Technologies news, EVP Nicole B. Theophilus sold 2,668 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $140.46, for a total transaction of $374,747.28. Following the completion of the transaction, the executive vice president now directly owns 24,792 shares of the company’s stock, valued at approximately $3,482,284.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rafael Santana sold 40,219 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $140.62, for a total transaction of $5,655,595.78. Following the sale, the chief executive officer now directly owns 123,019 shares of the company’s stock, valued at approximately $17,298,931.78. The disclosure for this sale can be found here. In the last quarter, insiders have sold 63,964 shares of company stock worth $8,924,584. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Westinghouse Air Brake Technologies

Several hedge funds have recently added to or reduced their stakes in WAB. First Hawaiian Bank lifted its holdings 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 valued at $539,000 after acquiring an additional 157 shares during the period. Applied Finance Capital Management LLC lifted its position in Westinghouse Air Brake Technologies by 9.8% during the 4th quarter. Applied Finance Capital Management LLC now owns 159,384 shares of the transportation company’s stock worth $20,226,000 after acquiring an additional 14,285 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Westinghouse Air Brake Technologies by 7.7% in the 4th quarter. BNP Paribas Financial Markets now owns 81,916 shares of the transportation company’s stock valued at $10,395,000 after purchasing an additional 5,859 shares in the last quarter. Handelsinvest Investeringsforvaltning bought a new position in Westinghouse Air Brake Technologies during the 4th quarter worth $1,030,000. Finally, iA Global Asset Management Inc. bought a new position in shares of Westinghouse Air Brake Technologies in the third quarter worth $1,915,000. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

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.