Rhumbline Advisers Grows Stake in Westinghouse Air Brake Technologies Co. (NYSE:WAB)

Rhumbline Advisers grew its holdings in shares of Westinghouse Air Brake Technologies Co. (NYSE:WAB) by 2.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 335,483 shares of the transportation company’s stock after buying an additional 7,012 shares during the period. Rhumbline Advisers owned 0.19% of Westinghouse Air Brake Technologies worth $53,023,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV increased 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 valued at $90,000 after purchasing an additional 118 shares during the period. Dorsey & Whitney Trust CO LLC bought a new position in Westinghouse Air Brake Technologies in the first quarter worth about $204,000. V Square Quantitative Management LLC raised its stake in Westinghouse Air Brake Technologies by 36.8% in the first quarter. V Square Quantitative Management LLC now owns 2,624 shares of the transportation company’s stock worth $382,000 after buying an additional 706 shares in the last quarter. Greenleaf Trust lifted its holdings in Westinghouse Air Brake Technologies by 4.3% in the first quarter. Greenleaf Trust now owns 3,201 shares of the transportation company’s stock worth $466,000 after buying an additional 133 shares during the period. Finally, First Hawaiian Bank boosted its position in Westinghouse Air Brake Technologies by 4.4% during the 1st 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 in the last quarter. Institutional investors own 91.69% of the company’s stock.

Westinghouse Air Brake Technologies Price Performance

WAB opened at $164.04 on Thursday. Westinghouse Air Brake Technologies Co. has a 1 year low of $98.70 and a 1 year high of $170.83. The stock has a 50-day moving average price of $160.57 and a 200-day moving average price of $156.25. The firm has a market cap of $28.74 billion, a PE ratio of 32.04, a P/E/G ratio of 1.41 and a beta of 1.27. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.38 and a quick ratio of 0.73.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its earnings results on Wednesday, July 24th. The transportation company reported $1.96 earnings per share (EPS) 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 period in the previous year, the company earned $1.41 earnings per share. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. Sell-side analysts predict that Westinghouse Air Brake Technologies Co. will post 7.46 earnings per share for the current fiscal year.

Westinghouse Air Brake Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were issued a $0.20 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $0.80 annualized dividend and a yield of 0.49%. Westinghouse Air Brake Technologies’s payout ratio is 15.63%.

Wall Street Analysts Forecast Growth

WAB has been the subject of a number of research analyst reports. Bank of America raised their target price on Westinghouse Air Brake Technologies from $183.00 to $184.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. The Goldman Sachs Group upped 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 report on Tuesday, June 4th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $163.90.

Insiders Place Their Bets

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

About Westinghouse Air Brake Technologies

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.