Westinghouse Air Brake Technologies (NYSE:WAB) Reaches New 52-Week High at $181.74

Westinghouse Air Brake Technologies Co. (NYSE:WAB)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $181.74 and last traded at $181.74, with a volume of 27215 shares changing hands. The stock had previously closed at $180.62.

Analysts Set New Price Targets

A number of research firms have recently weighed in on WAB. Bank of America upped their price objective 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. The Goldman Sachs Group boosted 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 report on Tuesday, June 4th. Three 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $163.90.

Westinghouse Air Brake Technologies Stock Up 0.4 %

The firm has a market cap of $31.77 billion, a P/E ratio of 35.28, a price-to-earnings-growth ratio of 1.49 and a beta of 1.27. The company’s 50-day simple moving average is $163.67 and its 200 day simple moving average is $159.46. 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 announced its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter last year, the firm earned $1.41 EPS. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. Research analysts anticipate that Westinghouse Air Brake Technologies Co. will post 7.46 EPS for the current fiscal year.

Westinghouse Air Brake Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Wednesday, August 14th. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) is currently 15.63%.

Insider Activity at Westinghouse Air Brake Technologies

In other Westinghouse Air Brake Technologies news, Director Brian Hehir sold 1,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $161.62, for a total transaction of $161,620.00. Following the transaction, the director now directly owns 23,230 shares in the company, valued at approximately $3,754,432.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Alicia Hammersmith sold 4,169 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $165.54, for a total transaction of $690,136.26. Following the sale, the insider now owns 5,606 shares in the company, valued at $928,017.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brian Hehir sold 1,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $161.62, for a total transaction of $161,620.00. Following the completion of the transaction, the director now directly owns 23,230 shares of the company’s stock, valued at $3,754,432.60. The disclosure for this sale can be found here. Insiders sold 17,392 shares of company stock worth $2,754,390 in the last 90 days. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of Westinghouse Air Brake Technologies

Large investors have recently bought and sold shares of the stock. Rhumbline Advisers lifted its position in Westinghouse Air Brake Technologies by 2.1% during the second quarter. Rhumbline Advisers now owns 335,483 shares of the transportation company’s stock valued at $53,023,000 after purchasing an additional 7,012 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Westinghouse Air Brake Technologies by 107.8% in the 1st quarter. BNP Paribas Financial Markets now owns 170,248 shares of the transportation company’s stock valued at $24,802,000 after buying an additional 88,325 shares during the period. Forsta AP Fonden boosted its stake in shares of Westinghouse Air Brake Technologies by 64.5% in the first quarter. Forsta AP Fonden now owns 53,300 shares of the transportation company’s stock worth $7,765,000 after buying an additional 20,900 shares during the last quarter. DNB Asset Management AS grew its holdings in Westinghouse Air Brake Technologies by 3.9% during the second quarter. DNB Asset Management AS now owns 46,343 shares of the transportation company’s stock worth $7,325,000 after acquiring an additional 1,729 shares during the period. Finally, Nisa Investment Advisors LLC raised its position in Westinghouse Air Brake Technologies by 12.3% during the second quarter. Nisa Investment Advisors LLC now owns 22,357 shares of the transportation company’s stock valued at $3,534,000 after acquiring an additional 2,457 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

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.