Camden National Bank Makes New $222,000 Investment in Westinghouse Air Brake Technologies Co. (NYSE:WAB)

Camden National Bank acquired a new stake in Westinghouse Air Brake Technologies Co. (NYSE:WAB) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,222 shares of the transportation company’s stock, valued at approximately $222,000.

A number of other institutional investors have also modified their holdings of WAB. Pinnacle Bancorp Inc. lifted its position in Westinghouse Air Brake Technologies by 55.0% during the third quarter. Pinnacle Bancorp Inc. now owns 155 shares of the transportation company’s stock valued at $28,000 after buying an additional 55 shares in the last quarter. Eastern Bank acquired a new position in shares of Westinghouse Air Brake Technologies during the 3rd quarter valued at $33,000. Massmutual Trust Co. FSB ADV boosted its position in Westinghouse Air Brake Technologies by 26.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 568 shares of the transportation company’s stock worth $90,000 after purchasing an additional 118 shares during the period. Bridges Investment Management Inc. acquired a new stake in Westinghouse Air Brake Technologies in the 2nd quarter valued at $360,000. Finally, V Square Quantitative Management LLC raised its position in Westinghouse Air Brake Technologies by 22.7% in the third quarter. V Square Quantitative Management LLC now owns 2,461 shares of the transportation company’s stock valued at $447,000 after purchasing an additional 455 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on WAB shares. Susquehanna upped their target price on Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the stock a “positive” rating in a research report on Monday, October 21st. The Goldman Sachs Group increased their price objective on shares of Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Stephens lifted their price objective on shares of Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, KeyCorp upped their target price on shares of Westinghouse Air Brake Technologies from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $175.30.

Insiders Place Their Bets

In related news, insider Alicia Hammersmith sold 4,169 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was 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 directly owns 5,606 shares of the company’s stock, valued at $928,017.24. This represents a 42.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO John A. Mastalerz, Jr. sold 2,796 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $199.71, for a total value of $558,389.16. Following the completion of the sale, the chief accounting officer now owns 5,683 shares in the company, valued at approximately $1,134,951.93. This represents a 32.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 53,562 shares of company stock valued at $10,040,379 over the last quarter. Insiders own 1.10% of the company’s stock.

Westinghouse Air Brake Technologies Trading Up 0.6 %

NYSE WAB opened at $199.15 on Friday. The company has a market capitalization of $34.23 billion, a price-to-earnings ratio of 33.19, a price-to-earnings-growth ratio of 1.43 and a beta of 1.27. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 0.65. Westinghouse Air Brake Technologies Co. has a 12 month low of $114.45 and a 12 month high of $202.84. The company’s fifty day moving average price is $188.05 and its two-hundred day moving average price is $171.63.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $2.00 EPS for the quarter, topping the consensus estimate of $1.87 by $0.13. Westinghouse Air Brake Technologies had a net margin of 10.25% and a return on equity of 12.52%. The business had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.68 billion. During the same quarter last year, the company posted $1.70 earnings per share. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, research analysts predict that Westinghouse Air Brake Technologies Co. will post 7.61 earnings per share for the current fiscal year.

Westinghouse Air Brake Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Wednesday, November 13th. Westinghouse Air Brake Technologies’s dividend payout ratio is presently 13.33%.

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.