Westinghouse Air Brake Technologies Co. (NYSE:WAB) VP David L. Deninno Sells 3,016 Shares

Westinghouse Air Brake Technologies Co. (NYSE:WAB) VP David L. Deninno sold 3,016 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $161.48, for a total transaction of $487,023.68. Following the transaction, the vice president now owns 65,352 shares of the company’s stock, valued at $10,553,040.96. The transaction was disclosed in a filing with the SEC, which is available through this link.

Westinghouse Air Brake Technologies Price Performance

Shares of WAB stock traded down $1.18 during trading hours on Monday, reaching $163.18. The stock had a trading volume of 143,866 shares, compared to its average volume of 1,051,984. The stock’s fifty day simple moving average is $144.38 and its 200 day simple moving average is $128.89. 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 $28.78 billion, a PE ratio of 31.87, a PEG ratio of 1.45 and a beta of 1.40.

Westinghouse Air Brake Technologies (NYSE:WAB) last posted its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.40. Westinghouse Air Brake Technologies had a return on equity of 11.25% and a net margin of 9.20%. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the prior year, the company posted $1.28 EPS. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. On average, equities research analysts predict that Westinghouse Air Brake Technologies Co. will post 7.34 EPS for the current year.

Westinghouse Air Brake Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. This is a boost from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.17. The ex-dividend date was Thursday, February 22nd. Westinghouse Air Brake Technologies’s dividend payout ratio is 15.63%.

Institutional Trading of Westinghouse Air Brake Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. iA Global Asset Management Inc. purchased a new position in shares of Westinghouse Air Brake Technologies during the third quarter valued at $1,915,000. Applied Finance Capital Management LLC increased 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 valued at $20,226,000 after buying an additional 14,285 shares during the period. Handelsinvest Investeringsforvaltning purchased a new position in shares of Westinghouse Air Brake Technologies during the fourth quarter valued at $1,030,000. BNP Paribas Financial Markets grew its stake in Westinghouse Air Brake Technologies by 7.7% in the fourth quarter. BNP Paribas Financial Markets now owns 81,916 shares of the transportation company’s stock valued at $10,395,000 after purchasing an additional 5,859 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. purchased a new position in Westinghouse Air Brake Technologies in the third quarter valued at about $498,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on WAB shares. KeyCorp boosted their target price on shares of Westinghouse Air Brake Technologies from $155.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday. Susquehanna boosted their target price on shares of Westinghouse Air Brake Technologies from $160.00 to $190.00 and gave the stock a “positive” rating in a report on Thursday. TD Cowen boosted 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 report on Thursday. Morgan Stanley started coverage on shares of Westinghouse Air Brake Technologies in a report on Monday, January 8th. They set an “overweight” rating and a $137.00 target price on the stock. Finally, Bank of America upped their price objective on shares of Westinghouse Air Brake Technologies from $156.00 to $162.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Westinghouse Air Brake Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $156.18.

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.