Insider Selling: Westinghouse Air Brake Technologies Co. (NYSE:WAB) CAO Sells 3,749 Shares of Stock

Westinghouse Air Brake Technologies Co. (NYSE:WAB) CAO John A. Mastalerz, Jr. sold 3,749 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $162.70, for a total transaction of $609,962.30. Following the sale, the chief accounting officer now owns 8,479 shares of the company’s stock, valued at approximately $1,379,533.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Westinghouse Air Brake Technologies Price Performance

WAB stock opened at $161.08 on Wednesday. The firm has a 50 day moving average of $144.96 and a 200-day moving average of $129.30. The company has a current ratio of 1.52, a quick ratio of 0.77 and a debt-to-equity ratio of 0.38. Westinghouse Air Brake Technologies Co. has a 12 month low of $91.89 and a 12 month high of $167.49. The firm has a market capitalization of $28.41 billion, a P/E ratio of 31.46, a price-to-earnings-growth ratio of 1.45 and a beta of 1.40.

Westinghouse Air Brake Technologies (NYSE:WAB) last announced its earnings results on Wednesday, April 24th. The transportation company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same period in the previous year, the business posted $1.28 earnings per share. Westinghouse Air Brake Technologies’s revenue for the quarter was up 13.9% on a year-over-year basis. As a group, sell-side 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 business also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This is a positive change from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.17. This represents a $0.80 annualized dividend and a yield of 0.50%. Westinghouse Air Brake Technologies’s payout ratio is presently 15.63%.

Analysts Set New Price Targets

WAB has been the subject of several recent research reports. The Goldman Sachs Group lifted their target price on shares of Westinghouse Air Brake Technologies from $138.00 to $152.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Stephens lifted their target price on shares of Westinghouse Air Brake Technologies from $165.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Jefferies Financial Group upgraded shares of Westinghouse Air Brake Technologies from a “hold” rating to a “buy” rating and lifted their target price for the stock from $115.00 to $150.00 in a research note on Thursday, January 11th. TD Cowen lifted their target price on shares of Westinghouse Air Brake Technologies from $130.00 to $147.00 and gave the stock a “hold” rating in a research note on Thursday, April 25th. Finally, Bank of America lifted their target price on shares of 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. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $156.18.

Institutional Investors Weigh In On Westinghouse Air Brake Technologies

Several hedge funds have recently bought and sold shares of the stock. Greenleaf Trust lifted its position in Westinghouse Air Brake Technologies by 4.3% during the first quarter. Greenleaf Trust now owns 3,201 shares of the transportation company’s stock valued at $466,000 after purchasing an additional 133 shares during the last quarter. V Square Quantitative Management LLC lifted its position in Westinghouse Air Brake Technologies by 36.8% during the first quarter. V Square Quantitative Management LLC now owns 2,624 shares of the transportation company’s stock valued at $382,000 after purchasing an additional 706 shares during the last quarter. First Hawaiian Bank raised its stake in shares of Westinghouse Air Brake Technologies by 4.4% during the first quarter. First Hawaiian Bank now owns 3,699 shares of the transportation company’s stock worth $539,000 after acquiring an additional 157 shares in the last quarter. Applied Finance Capital Management LLC raised its stake in shares of Westinghouse Air Brake Technologies by 9.8% during the fourth quarter. Applied Finance Capital Management LLC now owns 159,384 shares of the transportation company’s stock worth $20,226,000 after acquiring an additional 14,285 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of Westinghouse Air Brake Technologies by 7.7% during the fourth quarter. BNP Paribas Financial Markets now owns 81,916 shares of the transportation company’s stock worth $10,395,000 after acquiring an additional 5,859 shares in the last quarter. 91.69% of the stock is currently 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.