Westinghouse Air Brake Technologies (NYSE:WAB) Sets New 52-Week High at $177.51

Westinghouse Air Brake Technologies Co. (NYSE:WAB) shares reached a new 52-week high on Thursday . The stock traded as high as $177.51 and last traded at $176.73, with a volume of 44357 shares changing hands. The stock had previously closed at $173.72.

Wall Street Analysts Forecast Growth

WAB has been the topic of several research reports. The Goldman Sachs Group upped their price objective on shares of Westinghouse Air Brake Technologies from $160.00 to $181.00 and gave the company a “neutral” rating in a report on Tuesday, June 4th. Bank of America upped their price target on 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 analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $163.90.

Westinghouse Air Brake Technologies Price Performance

The stock has a market capitalization of $31.01 billion, a P/E ratio of 33.93, a price-to-earnings-growth ratio of 1.42 and a beta of 1.27. The business has a fifty day simple moving average of $162.49 and a 200 day simple moving average of $158.29. The company has a current ratio of 1.38, a quick ratio of 0.73 and a debt-to-equity ratio of 0.33.

Westinghouse Air Brake Technologies (NYSE:WAB) last announced its earnings results on Wednesday, July 24th. The transportation company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.08. Westinghouse Air Brake Technologies had a return on equity of 12.05% and a net margin of 9.94%. The company had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter in the previous year, the firm earned $1.41 earnings per share. Westinghouse Air Brake Technologies’s quarterly revenue was up 9.8% on a year-over-year basis. On average, analysts expect that Westinghouse Air Brake Technologies Co. 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. Stockholders 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 dividend yield of 0.45%. Westinghouse Air Brake Technologies’s dividend payout ratio is currently 15.63%.

Insider Buying and Selling

In other Westinghouse Air Brake Technologies news, insider Alicia Hammersmith sold 4,169 shares of the stock in a transaction dated 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 approximately $928,017.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Westinghouse Air Brake Technologies 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 value of $690,136.26. Following the completion of the transaction, the insider now owns 5,606 shares in the company, valued at approximately $928,017.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Eric Gebhardt sold 7,422 shares of Westinghouse Air Brake Technologies stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $156.32, for a total value of $1,160,207.04. Following the sale, the chief technology officer now owns 22,411 shares in the company, valued at $3,503,287.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,392 shares of company stock worth $2,754,390. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of WAB. Bridges Investment Management Inc. bought a new position in Westinghouse Air Brake Technologies during the second quarter valued at $360,000. Plato Investment Management Ltd increased its holdings in Westinghouse Air Brake Technologies by 2.3% in the 2nd quarter. Plato Investment Management Ltd now owns 11,522 shares of the transportation company’s stock worth $1,821,000 after acquiring an additional 261 shares during the last quarter. Rhumbline Advisers raised its stake in Westinghouse Air Brake Technologies by 2.1% in the 2nd quarter. Rhumbline Advisers now owns 335,483 shares of the transportation company’s stock valued at $53,023,000 after acquiring an additional 7,012 shares during the period. iA Global Asset Management Inc. lifted its holdings in Westinghouse Air Brake Technologies by 1.9% during the second quarter. iA Global Asset Management Inc. now owns 15,325 shares of the transportation company’s stock valued at $2,422,000 after purchasing an additional 287 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings in Westinghouse Air Brake Technologies by 3.4% during the second quarter. UMB Bank n.a. now owns 4,701 shares of the transportation company’s stock valued at $743,000 after purchasing an additional 156 shares during the last quarter. 91.69% of the stock is owned by institutional investors.

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.