Insider Selling: Westinghouse Air Brake Technologies Co. (NYSE:WAB) Director Sells $4,703,433.00 in Stock

Westinghouse Air Brake Technologies Co. (NYSE:WAB) Director Albert J. Neupaver sold 29,100 shares of the business’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $161.63, for a total value of $4,703,433.00. Following the sale, the director now owns 595,412 shares of the company’s stock, valued at $96,236,441.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Westinghouse Air Brake Technologies Trading Up 0.2 %

WAB stock opened at $162.21 on Friday. The company has a market capitalization of $28.61 billion, a price-to-earnings ratio of 31.68, a PEG ratio of 1.42 and a beta of 1.36. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.52 and a quick ratio of 0.77. Westinghouse Air Brake Technologies Co. has a 1-year low of $91.89 and a 1-year high of $167.49. The business has a 50 day simple moving average of $146.94 and a two-hundred day simple moving average of $130.73.

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

Westinghouse Air Brake Technologies Increases Dividend

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

Analyst Ratings Changes

WAB has been the subject of several recent research reports. 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. KeyCorp upped their price objective on Westinghouse Air Brake Technologies from $155.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Morgan Stanley assumed coverage on Westinghouse Air Brake Technologies in a research report on Monday, January 8th. They set an “overweight” rating and a $137.00 target price on the stock. Wells Fargo & Company upped their price target on Westinghouse Air Brake Technologies from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, February 15th. Finally, TD Cowen lifted their price objective on Westinghouse Air Brake Technologies from $130.00 to $147.00 and gave the company a “hold” rating in a research report on Thursday, April 25th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $156.18.

Institutional Trading of Westinghouse Air Brake Technologies

A number of large investors have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new position in Westinghouse Air Brake Technologies during the third quarter worth approximately $204,000. First Hawaiian Bank raised its holdings in shares of Westinghouse Air Brake Technologies by 49.1% in the 4th quarter. First Hawaiian Bank now owns 3,542 shares of the transportation company’s stock valued at $449,000 after buying an additional 1,167 shares during the period. Greenleaf Trust increased its stake in Westinghouse Air Brake Technologies by 4.3% during the first quarter. Greenleaf Trust now owns 3,201 shares of the transportation company’s stock worth $466,000 after purchasing an additional 133 shares during the period. Industrial Alliance Investment Management Inc. acquired a new stake in Westinghouse Air Brake Technologies during the 3rd quarter worth approximately $498,000. Finally, Handelsinvest Investeringsforvaltning acquired a new stake in shares of Westinghouse Air Brake Technologies in the fourth quarter valued at $1,030,000. 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.