Longboard Asset Management LP Buys New Stake in Westinghouse Air Brake Technologies Co. (NYSE:WAB)

Longboard Asset Management LP acquired a new stake in shares of Westinghouse Air Brake Technologies Co. (NYSE:WAB) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,327 shares of the transportation company’s stock, valued at approximately $252,000. Westinghouse Air Brake Technologies accounts for about 0.7% of Longboard Asset Management LP’s holdings, making the stock its 18th largest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WAB. UMB Bank n.a. raised its stake in shares of Westinghouse Air Brake Technologies by 4.4% in the 3rd quarter. UMB Bank n.a. now owns 4,910 shares of the transportation company’s stock valued at $892,000 after acquiring an additional 209 shares during the period. Pinnacle Bancorp Inc. lifted its position in shares of Westinghouse Air Brake Technologies by 55.0% during the third quarter. Pinnacle Bancorp Inc. now owns 155 shares of the transportation company’s stock worth $28,000 after purchasing an additional 55 shares in the last quarter. V Square Quantitative Management LLC boosted its stake in shares of Westinghouse Air Brake Technologies by 22.7% in the third quarter. V Square Quantitative Management LLC now owns 2,461 shares of the transportation company’s stock valued at $447,000 after purchasing an additional 455 shares during the period. Border to Coast Pensions Partnership Ltd grew its holdings in Westinghouse Air Brake Technologies by 4.5% during the 3rd quarter. Border to Coast Pensions Partnership Ltd now owns 201,011 shares of the transportation company’s stock valued at $36,431,000 after purchasing an additional 8,575 shares in the last quarter. Finally, Eastern Bank purchased a new stake in Westinghouse Air Brake Technologies during the 3rd quarter worth $33,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on WAB shares. Bank of America lifted their price target on shares of Westinghouse Air Brake Technologies from $225.00 to $226.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Stephens raised their price objective on Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. KeyCorp boosted their target price on shares of Westinghouse Air Brake Technologies from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group increased their target price on shares of Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Finally, Susquehanna lifted their price target on shares of Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the company a “positive” rating in a report on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $188.50.

Insider Transactions at Westinghouse Air Brake Technologies

In related news, CAO John A. Mastalerz, Jr. sold 2,796 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $199.71, for a total value of $558,389.16. Following the completion of the sale, the chief accounting officer now owns 5,683 shares in the company, valued at approximately $1,134,951.93. This represents a 32.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by insiders.

Westinghouse Air Brake Technologies Stock Performance

Shares of WAB opened at $204.55 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 0.65. The firm’s 50 day moving average is $198.56 and its 200-day moving average is $184.12. Westinghouse Air Brake Technologies Co. has a 12-month low of $131.33 and a 12-month high of $210.88. The stock has a market capitalization of $35.16 billion, a P/E ratio of 34.09, a P/E/G ratio of 1.33 and a beta of 1.27.

Westinghouse Air Brake Technologies 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.