Insider Selling: Westinghouse Air Brake Technologies Co. (NYSE:WAB) Insider Sells 6,000 Shares of Stock

Westinghouse Air Brake Technologies Co. (NYSE:WAB) insider Pascal Schweitzer sold 6,000 shares of Westinghouse Air Brake Technologies stock in a transaction on Monday, April 29th. The stock was sold at an average price of $162.74, for a total transaction of $976,440.00. Following the completion of the transaction, the insider now directly owns 10,633 shares in the company, valued at $1,730,414.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Pascal Schweitzer also recently made the following trade(s):

• On Monday, March 11th, Pascal Schweitzer sold 6,000 shares of Westinghouse Air Brake Technologies stock. The shares were sold at an average price of $140.61, for a total transaction of $843,660.00.

Westinghouse Air Brake Technologies Price Performance

Shares of Westinghouse Air Brake Technologies stock traded down $0.41 during trading hours on Wednesday, reaching $160.67. The stock had a trading volume of 400,978 shares, compared to its average volume of 1,068,497. The stock’s 50 day moving average is $145.49 and its 200 day moving average is $129.72. The firm has a market capitalization of $28.34 billion, a PE ratio of 31.27, a PEG ratio of 1.44 and a beta of 1.40. Westinghouse Air Brake Technologies Co. has a twelve month low of $91.89 and a twelve month high of $167.49. 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 (NYSE:WAB) last released its earnings results on Wednesday, April 24th. The transportation company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.40 billion. Westinghouse Air Brake Technologies had a net margin of 9.20% and a return on equity of 11.25%. The company’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.28 earnings per share. Equities analysts expect 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. Stockholders of record on Friday, February 23rd were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, February 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.50%. This is a boost from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.17. Westinghouse Air Brake Technologies’s payout ratio is currently 15.63%.

Institutional Trading of Westinghouse Air Brake Technologies

A number of institutional investors and hedge funds have recently modified their holdings of WAB. iA Global Asset Management Inc. purchased a new stake in shares of Westinghouse Air Brake Technologies during the third quarter worth about $1,915,000. Applied Finance Capital Management LLC grew its stake in Westinghouse Air Brake Technologies by 9.8% during the 4th quarter. Applied Finance Capital Management LLC now owns 159,384 shares of the transportation company’s stock valued at $20,226,000 after acquiring an additional 14,285 shares in the last quarter. Handelsinvest Investeringsforvaltning purchased a new stake in Westinghouse Air Brake Technologies during the 4th quarter valued at about $1,030,000. BNP Paribas Financial Markets grew its stake in Westinghouse Air Brake Technologies by 7.7% during the 4th quarter. BNP Paribas Financial Markets now owns 81,916 shares of the transportation company’s stock valued at $10,395,000 after acquiring an additional 5,859 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. purchased a new stake in Westinghouse Air Brake Technologies during the 3rd quarter valued at about $498,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of Westinghouse Air Brake Technologies from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. Susquehanna boosted their target price on shares of Westinghouse Air Brake Technologies from $160.00 to $190.00 and gave the company a “positive” rating in a research report on Thursday, April 25th. Bank of America boosted their target price on shares of Westinghouse Air Brake Technologies from $156.00 to $162.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Redburn Atlantic downgraded shares of Westinghouse Air Brake Technologies from a “buy” rating to a “neutral” rating and set a $135.00 target price for the company. in a research report on Thursday, February 15th. Finally, The Goldman Sachs Group boosted their target price on shares of Westinghouse Air Brake Technologies from $138.00 to $152.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $156.18.

Westinghouse Air Brake Technologies Company 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.