iA Global Asset Management Inc. Reduces Stock Holdings in Westinghouse Air Brake Technologies Co. (NYSE:WAB)

iA Global Asset Management Inc. trimmed its holdings in shares of Westinghouse Air Brake Technologies Co. (NYSE:WAB) by 8.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 17,095 shares of the transportation company’s stock after selling 1,518 shares during the period. iA Global Asset Management Inc.’s holdings in Westinghouse Air Brake Technologies were worth $3,241,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Garde Capital Inc. purchased a new position in Westinghouse Air Brake Technologies during the 3rd quarter worth $110,000. Dorsey & Whitney Trust CO LLC purchased a new position in Westinghouse Air Brake Technologies during the 4th quarter worth $204,000. Camden National Bank purchased a new position in Westinghouse Air Brake Technologies during the 3rd quarter worth $222,000. Longboard Asset Management LP purchased a new position in Westinghouse Air Brake Technologies during the 4th quarter worth $252,000. Finally, Harvest Fund Management Co. Ltd grew its stake in Westinghouse Air Brake Technologies by 10.4% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,820 shares of the transportation company’s stock valued at $331,000 after purchasing an additional 172 shares during the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. Stephens reiterated an “overweight” rating and set a $220.00 price target on shares of Westinghouse Air Brake Technologies in a research note on Thursday, February 13th. StockNews.com downgraded Westinghouse Air Brake Technologies from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Bank of America boosted their price target on Westinghouse Air Brake Technologies from $225.00 to $226.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $206.33.

Insider Buying and Selling

In related news, CEO Rafael Santana sold 886 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $182.34, for a total value of $161,553.24. Following the completion of the transaction, the chief executive officer now owns 176,295 shares of the company’s stock, valued at approximately $32,145,630.30. This represents a 0.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by insiders.

Westinghouse Air Brake Technologies Stock Performance

Shares of WAB stock opened at $185.45 on Friday. The stock has a market cap of $31.68 billion, a PE ratio of 30.75, a price-to-earnings-growth ratio of 1.50 and a beta of 1.31. The business has a 50-day simple moving average of $192.85 and a 200-day simple moving average of $190.08. The company has a quick ratio of 0.69, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. Westinghouse Air Brake Technologies Co. has a 52-week low of $141.85 and a 52-week high of $210.88.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its quarterly earnings data on Wednesday, February 12th. The transportation company reported $1.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.74 by ($0.06). Westinghouse Air Brake Technologies had a net margin of 10.17% and a return on equity of 12.78%. On average, equities analysts expect that Westinghouse Air Brake Technologies Co. will post 8.54 EPS for the current year.

Westinghouse Air Brake Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were issued a $0.25 dividend. This is a boost from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.54%. Westinghouse Air Brake Technologies’s dividend payout ratio is presently 16.58%.

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.