Westinghouse Air Brake Technologies Co. (NYSE:WAB) Shares Sold by Everence Capital Management Inc.

Everence Capital Management Inc. cut its holdings in Westinghouse Air Brake Technologies Co. (NYSE:WAB) by 51.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,040 shares of the transportation company’s stock after selling 3,210 shares during the quarter. Everence Capital Management Inc.’s holdings in Westinghouse Air Brake Technologies were worth $386,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of WAB. Neuberger Berman Group LLC grew its position in shares of Westinghouse Air Brake Technologies by 2,233.1% in the first quarter. Neuberger Berman Group LLC now owns 245,277 shares of the transportation company’s stock valued at $23,589,000 after purchasing an additional 234,764 shares during the last quarter. iA Global Asset Management Inc. purchased a new position in shares of Westinghouse Air Brake Technologies during the third quarter valued at approximately $1,915,000. State of Tennessee Treasury Department lifted its stake in shares of Westinghouse Air Brake Technologies by 13.8% during the first quarter. State of Tennessee Treasury Department now owns 115,233 shares of the transportation company’s stock valued at $11,645,000 after buying an additional 13,949 shares during the period. Cibc World Markets Corp purchased a new position in shares of Westinghouse Air Brake Technologies during the first quarter valued at approximately $1,092,000. Finally, Handelsinvest Investeringsforvaltning purchased a new position in shares of Westinghouse Air Brake Technologies during the fourth quarter valued at approximately $1,030,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. TD Cowen upped their price objective on shares of Westinghouse Air Brake Technologies from $125.00 to $130.00 and gave the company a “market perform” rating in a research note on Thursday, February 15th. Wells Fargo & Company upped 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 research note on Thursday, February 15th. Morgan Stanley assumed coverage on shares of Westinghouse Air Brake Technologies in a research note on Monday, January 8th. They set an “overweight” rating and a $137.00 price objective on the stock. Redburn Atlantic downgraded shares of Westinghouse Air Brake Technologies from a “buy” rating to a “neutral” rating and set a $135.00 price target on the stock. in a research note on Thursday, February 15th. Finally, The Goldman Sachs Group increased their price target on shares of Westinghouse Air Brake Technologies from $138.00 to $152.00 and gave the stock a “neutral” rating in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $146.91.

Insider Transactions at Westinghouse Air Brake Technologies

In related news, CEO Rafael Santana sold 40,219 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $140.62, for a total transaction of $5,655,595.78. Following the completion of the sale, the chief executive officer now directly owns 123,019 shares of the company’s stock, valued at approximately $17,298,931.78. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Brian Hehir sold 5,470 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $135.80, for a total transaction of $742,826.00. Following the completion of the sale, the director now directly owns 23,065 shares of the company’s stock, valued at approximately $3,132,227. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Rafael Santana sold 40,219 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $140.62, for a total transaction of $5,655,595.78. Following the sale, the chief executive officer now directly owns 123,019 shares of the company’s stock, valued at $17,298,931.78. The disclosure for this sale can be found here. Insiders sold 63,964 shares of company stock valued at $8,924,584 over the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Westinghouse Air Brake Technologies Price Performance

Westinghouse Air Brake Technologies stock opened at $144.27 on Friday. Westinghouse Air Brake Technologies Co. has a 52-week low of $91.89 and a 52-week high of $151.00. The firm has a fifty day moving average of $142.06 and a 200-day moving average of $126.43. The firm has a market capitalization of $25.51 billion, a P/E ratio of 31.92, a PEG ratio of 1.66 and a beta of 1.40. The company has a quick ratio of 0.63, a current ratio of 1.20 and a debt-to-equity ratio of 0.31.

Westinghouse Air Brake Technologies (NYSE:WAB) last released its quarterly earnings data on Wednesday, February 14th. The transportation company reported $1.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.04). Westinghouse Air Brake Technologies had a return on equity of 10.34% and a net margin of 8.42%. The business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.48 billion. During the same period in the previous year, the company earned $1.30 EPS. Westinghouse Air Brake Technologies’s revenue was up 9.5% on a year-over-year basis. As a group, analysts predict that Westinghouse Air Brake Technologies Co. will post 6.73 EPS for the current year.

Westinghouse Air Brake Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.55%. This is a positive change from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.17. Westinghouse Air Brake Technologies’s dividend payout ratio is presently 17.70%.

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.