Westinghouse Air Brake Technologies Co. (NYSE:WAB) Sees Significant Increase in Short Interest

Westinghouse Air Brake Technologies Co. (NYSE:WAB) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totalling 2,930,000 shares, an increase of 19.6% from the August 15th total of 2,450,000 shares. Currently, 1.7% of the company’s stock are short sold. Based on an average daily volume of 1,140,000 shares, the short-interest ratio is presently 2.6 days.

Insider Activity at Westinghouse Air Brake Technologies

In related news, insider Alicia Hammersmith sold 4,169 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $165.54, for a total value of $690,136.26. Following the completion of the transaction, the insider now owns 5,606 shares of the company’s stock, valued at $928,017.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Westinghouse Air Brake Technologies news, insider Alicia Hammersmith sold 4,169 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $165.54, for a total value of $690,136.26. Following the completion of the sale, the insider now owns 5,606 shares in the company, valued at $928,017.24. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Nicole B. Theophilus sold 4,801 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $154.64, for a total transaction of $742,426.64. Following the completion of the sale, the executive vice president now owns 15,608 shares of the company’s stock, valued at approximately $2,413,621.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,392 shares of company stock valued at $2,754,390. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Westinghouse Air Brake Technologies

Several hedge funds have recently bought and sold shares of WAB. First Hawaiian Bank increased its holdings in Westinghouse Air Brake Technologies by 4.4% in the 1st quarter. First Hawaiian Bank now owns 3,699 shares of the transportation company’s stock valued at $539,000 after buying an additional 157 shares during the period. V Square Quantitative Management LLC grew its holdings in shares of Westinghouse Air Brake Technologies by 36.8% during the 1st quarter. V Square Quantitative Management LLC now owns 2,624 shares of the transportation company’s stock valued at $382,000 after purchasing an additional 706 shares during the last quarter. Greenleaf Trust grew its holdings in shares of Westinghouse Air Brake Technologies by 4.3% during the 1st quarter. Greenleaf Trust now owns 3,201 shares of the transportation company’s stock valued at $466,000 after purchasing an additional 133 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Westinghouse Air Brake Technologies by 107.8% during the 1st quarter. BNP Paribas Financial Markets now owns 170,248 shares of the transportation company’s stock valued at $24,802,000 after purchasing an additional 88,325 shares during the last quarter. Finally, Forsta AP Fonden grew its holdings in shares of Westinghouse Air Brake Technologies by 64.5% during the 1st quarter. Forsta AP Fonden now owns 53,300 shares of the transportation company’s stock valued at $7,765,000 after purchasing an additional 20,900 shares during the last quarter. 91.69% of the stock is owned by institutional investors.

Westinghouse Air Brake Technologies Stock Performance

Westinghouse Air Brake Technologies stock traded up $1.25 during midday trading on Friday, hitting $168.98. The company’s stock had a trading volume of 1,002,083 shares, compared to its average volume of 894,755. Westinghouse Air Brake Technologies has a 1-year low of $98.70 and a 1-year high of $172.00. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.38 and a quick ratio of 0.73. The company has a 50-day moving average price of $161.62 and a two-hundred day moving average price of $157.75. The company has a market cap of $29.81 billion, a price-to-earnings ratio of 33.00, a PEG ratio of 1.39 and a beta of 1.27.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.08. Westinghouse Air Brake Technologies had a net margin of 9.94% and a return on equity of 12.05%. The business had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter in the previous year, the company earned $1.41 EPS. The business’s revenue was up 9.8% on a year-over-year basis. As a group, sell-side analysts predict that Westinghouse Air Brake Technologies will post 7.46 earnings per share for the current year.

Westinghouse Air Brake Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date was Wednesday, August 14th. Westinghouse Air Brake Technologies’s dividend payout ratio is currently 15.63%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on WAB shares. The Goldman Sachs Group raised their target price on shares of Westinghouse Air Brake Technologies from $160.00 to $181.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 4th. Bank of America raised their target price on shares of Westinghouse Air Brake Technologies from $183.00 to $184.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $163.90.

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.