Westinghouse Air Brake Technologies (NYSE:WAB) Reaches New 12-Month High – Here’s Why

Westinghouse Air Brake Technologies Co. (NYSE:WAB) reached a new 52-week high during trading on Wednesday . The company traded as high as $203.04 and last traded at $202.38, with a volume of 35652 shares traded. The stock had previously closed at $201.71.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Susquehanna increased their price target on Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the stock a “positive” rating in a research report on Monday, October 21st. KeyCorp increased their price target on Westinghouse Air Brake Technologies from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Stephens increased their price objective on Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group increased their price objective on Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Westinghouse Air Brake Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.30.

Westinghouse Air Brake Technologies Price Performance

The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.65 and a current ratio of 1.30. The firm has a market capitalization of $34.38 billion, a P/E ratio of 33.34, a price-to-earnings-growth ratio of 1.45 and a beta of 1.27. The company has a 50-day moving average price of $189.71 and a 200-day moving average price of $172.33.

Westinghouse Air Brake Technologies (NYSE:WAB) last posted its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.13. Westinghouse Air Brake Technologies had a return on equity of 12.52% and a net margin of 10.25%. The business had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.68 billion. During the same period last year, the company earned $1.70 EPS. The firm’s revenue was up 4.4% on a year-over-year basis. On average, sell-side analysts predict that Westinghouse Air Brake Technologies Co. will post 7.61 earnings per share for the current year.

Westinghouse Air Brake Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.40%. The ex-dividend date was Wednesday, November 13th. Westinghouse Air Brake Technologies’s payout ratio is presently 13.33%.

Insider Buying and Selling

In related news, VP David L. Deninno sold 875 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $188.70, for a total transaction of $165,112.50. Following the sale, the vice president now owns 55,352 shares of the company’s stock, valued at approximately $10,444,922.40. This trade represents a 1.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Albert J. Neupaver sold 35,722 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $188.70, for a total value of $6,740,741.40. Following the sale, the director now directly owns 614,447 shares in the company, valued at $115,946,148.90. The trade was a 5.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,393 shares of company stock valued at $9,350,243. 1.10% of the stock is owned by company insiders.

Institutional Trading of Westinghouse Air Brake Technologies

Several hedge funds and other institutional investors have recently modified their holdings of WAB. Pinnacle Bancorp Inc. raised its stake in shares of Westinghouse Air Brake Technologies by 55.0% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 155 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 55 shares during the period. Eastern Bank acquired a new stake in shares of Westinghouse Air Brake Technologies in the 3rd quarter valued at about $33,000. Massmutual Trust Co. FSB ADV raised its stake in shares of Westinghouse Air Brake Technologies by 26.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 568 shares of the transportation company’s stock valued at $90,000 after purchasing an additional 118 shares during the period. Camden National Bank acquired a new stake in shares of Westinghouse Air Brake Technologies in the 3rd quarter valued at about $222,000. Finally, Harvest Fund Management Co. Ltd raised its stake in shares of Westinghouse Air Brake Technologies by 10.4% in 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 period. Institutional investors and hedge funds 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.