Westinghouse Air Brake Technologies (NYSE:WAB) Reaches New 12-Month High – Time to Buy?

Westinghouse Air Brake Technologies Co. (NYSE:WAB)’s stock price hit a new 52-week high on Monday . The company traded as high as $188.23 and last traded at $188.18, with a volume of 29082 shares trading hands. The stock had previously closed at $187.95.

Analyst Upgrades and Downgrades

Separately, Bank of America increased their target price on Westinghouse Air Brake Technologies from $183.00 to $184.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $163.90.

Westinghouse Air Brake Technologies Stock Up 0.5 %

The company has a quick ratio of 0.73, a current ratio of 1.38 and a debt-to-equity ratio of 0.33. The company has a market cap of $33.31 billion, a P/E ratio of 36.89, a PEG ratio of 1.53 and a beta of 1.27. The firm has a fifty day moving average price of $169.12 and a 200 day moving average price of $163.12.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.08. Westinghouse Air Brake Technologies had a return on equity of 12.05% and a net margin of 9.94%. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same quarter in the prior year, the firm posted $1.41 earnings per share. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. Equities research analysts forecast that Westinghouse Air Brake Technologies Co. will post 7.46 earnings per share for the current year.

Westinghouse Air Brake Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Wednesday, August 14th. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) is presently 15.63%.

Insider Activity

In other Westinghouse Air Brake Technologies news, Director Brian Hehir sold 1,000 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $161.62, for a total value of $161,620.00. Following the transaction, the director now owns 23,230 shares of the company’s stock, valued at approximately $3,754,432.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Westinghouse Air Brake Technologies news, Director Brian Hehir sold 1,000 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $161.62, for a total value of $161,620.00. Following the transaction, the director now owns 23,230 shares of the company’s stock, valued at approximately $3,754,432.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Alicia Hammersmith sold 4,169 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $165.54, for a total value of $690,136.26. Following the completion of the transaction, the insider now directly owns 5,606 shares in the company, valued at $928,017.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,392 shares of company stock valued at $2,754,390 over the last 90 days. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Westinghouse Air Brake Technologies

Hedge funds have recently modified their holdings of the business. Forsta AP Fonden raised its position in shares of Westinghouse Air Brake Technologies by 64.5% during the first quarter. Forsta AP Fonden now owns 53,300 shares of the transportation company’s stock worth $7,765,000 after purchasing an additional 20,900 shares during the period. BNP Paribas Financial Markets raised its position in shares of Westinghouse Air Brake Technologies by 107.8% during the first quarter. BNP Paribas Financial Markets now owns 170,248 shares of the transportation company’s stock worth $24,802,000 after purchasing an additional 88,325 shares during the period. First Hawaiian Bank raised its position in shares of Westinghouse Air Brake Technologies by 4.4% during the first quarter. First Hawaiian Bank now owns 3,699 shares of the transportation company’s stock worth $539,000 after purchasing an additional 157 shares during the period. Rhumbline Advisers grew its holdings in shares of Westinghouse Air Brake Technologies by 2.1% during the second quarter. Rhumbline Advisers now owns 335,483 shares of the transportation company’s stock worth $53,023,000 after buying an additional 7,012 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Westinghouse Air Brake Technologies by 12.3% during the second quarter. Nisa Investment Advisors LLC now owns 22,357 shares of the transportation company’s stock worth $3,534,000 after buying an additional 2,457 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

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.