Wabtec (NYSE:WAB – Get Free Report) announced a quarterly dividend on Tuesday, May 12th. Stockholders of record on Friday, May 22nd will be given a dividend of 0.31 per share by the transportation company on Wednesday, June 3rd. This represents a c) annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, May 22nd.
Wabtec has raised its dividend payment by an average of 0.2%annually over the last three years and has raised its dividend every year for the last 4 years. Wabtec has a payout ratio of 12.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Wabtec to earn $12.19 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 10.2%.
Wabtec Trading Down 0.6%
Shares of Wabtec stock traded down $1.72 during mid-day trading on Wednesday, hitting $267.31. The stock had a trading volume of 284,923 shares, compared to its average volume of 902,110. The firm has a 50-day moving average of $255.58 and a two-hundred day moving average of $234.24. Wabtec has a 12-month low of $184.26 and a 12-month high of $275.84. The company has a quick ratio of 0.54, a current ratio of 1.02 and a debt-to-equity ratio of 0.42. The firm has a market cap of $45.36 billion, a P/E ratio of 37.81, a price-to-earnings-growth ratio of 1.92 and a beta of 0.97.
Wabtec announced that its board has authorized a stock repurchase plan on Wednesday, February 11th that permits the company to repurchase $1.20 billion in shares. This repurchase authorization permits the transportation company to reacquire up to 2.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
About Wabtec
Wabtec Corporation (Westinghouse Air Brake Technologies Corporation) is a global provider of equipment, systems and services for the rail industry. The company supplies products and solutions to freight railroads, transit agencies and other industrial operators, focusing on technologies that improve the performance, safety and efficiency of locomotives and rail networks. Wabtec’s business spans new equipment manufacturing, aftermarket parts and services, and digital and control systems for rail operations.
Product and service offerings include locomotive systems and components, braking and air systems, propulsion and traction equipment, signaling and control technologies, and a range of aftermarket services such as maintenance, remanufacturing, parts distribution and fleet modernization.
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