Westinghouse Air Brake Technologies (NYSE:WAB) Reaches New 1-Year High at $167.51

Westinghouse Air Brake Technologies Co. (NYSE:WAB)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $167.51 and last traded at $167.22, with a volume of 469887 shares traded. The stock had previously closed at $165.56.

Analysts Set New Price Targets

Several analysts have weighed in on WAB shares. Jefferies Financial Group raised shares of Westinghouse Air Brake Technologies from a “hold” rating to a “buy” rating and boosted their price target for the stock from $115.00 to $150.00 in a research note on Thursday, January 11th. Bank of America lifted their price target on Westinghouse Air Brake Technologies from $156.00 to $162.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Wells Fargo & Company raised their target price on shares of Westinghouse Air Brake Technologies from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, February 15th. Redburn Atlantic downgraded shares of Westinghouse Air Brake Technologies from a “buy” rating to a “neutral” rating and set a $135.00 target price on the stock. in a research note on Thursday, February 15th. Finally, KeyCorp increased 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. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $156.18.

Westinghouse Air Brake Technologies Trading Up 1.1 %

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 market cap of $29.51 billion, a P/E ratio of 32.68, a PEG ratio of 1.43 and a beta of 1.36. The firm’s fifty day moving average is $148.51 and its two-hundred day moving average is $132.07.

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

Westinghouse Air Brake Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were issued a dividend of $0.20 per share. This is an increase from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.17. The ex-dividend date was Thursday, February 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. Westinghouse Air Brake Technologies’s dividend payout ratio is 15.63%.

Insider Activity

In related news, insider Pascal Schweitzer sold 6,000 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $162.74, for a total value of $976,440.00. Following the sale, the insider now directly owns 10,633 shares of the company’s stock, valued at $1,730,414.42. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Albert J. Neupaver sold 29,100 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $161.63, for a total value of $4,703,433.00. Following the sale, the director now directly owns 595,412 shares of the company’s stock, valued at approximately $96,236,441.56. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Pascal Schweitzer sold 6,000 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $162.74, for a total value of $976,440.00. Following the completion of the sale, the insider now directly owns 10,633 shares in the company, valued at $1,730,414.42. The disclosure for this sale can be found here. Insiders sold a total of 109,794 shares of company stock worth $16,338,817 in the last quarter. 1.10% of the stock is owned by company insiders.

Institutional Trading of Westinghouse Air Brake Technologies

Institutional investors have recently bought and sold shares of the company. iA Global Asset Management Inc. purchased a new position in Westinghouse Air Brake Technologies in the third quarter worth about $1,915,000. First Hawaiian Bank raised its holdings in 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 worth $449,000 after acquiring an additional 1,167 shares during the last quarter. Handelsinvest Investeringsforvaltning bought a new position in Westinghouse Air Brake Technologies in the 4th quarter valued at approximately $1,030,000. Watchman Group Inc. boosted its stake in Westinghouse Air Brake Technologies by 0.9% during the 3rd quarter. Watchman Group Inc. now owns 28,921 shares of the transportation company’s stock valued at $3,073,000 after purchasing an additional 269 shares during the last quarter. Finally, Applied Finance Capital Management LLC raised its stake in shares of 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 worth $15,420,000 after purchasing an additional 7,785 shares during the last quarter. 91.69% of the stock is 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.