BNP Paribas Financial Markets Grows Stake in Westinghouse Air Brake Technologies Co. (NYSE:WAB)

BNP Paribas Financial Markets increased its holdings in Westinghouse Air Brake Technologies Co. (NYSE:WAB) by 5.2% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 278,729 shares of the transportation company’s stock after buying an additional 13,683 shares during the period. BNP Paribas Financial Markets owned 0.16% of Westinghouse Air Brake Technologies worth $50,665,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Pinnacle Bancorp Inc. raised its holdings in shares of Westinghouse Air Brake Technologies by 55.0% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 155 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 55 shares in the last quarter. Eastern Bank purchased a new stake in Westinghouse Air Brake Technologies in the third quarter valued at approximately $33,000. Massmutual Trust Co. FSB ADV lifted its position in Westinghouse Air Brake Technologies by 26.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 568 shares of the transportation company’s stock valued at $90,000 after purchasing an additional 118 shares during the last quarter. Camden National Bank purchased a new position in Westinghouse Air Brake Technologies in the 3rd quarter worth approximately $222,000. Finally, Harvest Fund Management Co. Ltd increased its holdings in shares of Westinghouse Air Brake Technologies by 10.4% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,820 shares of the transportation company’s stock worth $331,000 after buying an additional 172 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on WAB. The Goldman Sachs Group lifted their price objective on shares of Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Stephens upped their price objective on Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. KeyCorp increased their price objective on Westinghouse Air Brake Technologies from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Finally, Susquehanna boosted their target price on Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the stock a “positive” rating in a research report on Monday, October 21st. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $175.30.

Westinghouse Air Brake Technologies Price Performance

Shares of Westinghouse Air Brake Technologies stock opened at $200.04 on Friday. The stock has a market capitalization of $34.38 billion, a P/E ratio of 33.34, a price-to-earnings-growth ratio of 1.45 and a beta of 1.27. Westinghouse Air Brake Technologies Co. has a one year low of $114.45 and a one year high of $203.04. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 0.65. The business’s 50 day simple moving average is $189.71 and its two-hundred day simple moving average is $172.33.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its earnings results on Wednesday, October 23rd. The transportation company reported $2.00 EPS for the quarter, topping the consensus estimate of $1.87 by $0.13. The company had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.68 billion. Westinghouse Air Brake Technologies had a net margin of 10.25% and a return on equity of 12.52%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.70 earnings per share. Analysts forecast that Westinghouse Air Brake Technologies Co. will post 7.61 EPS for the current year.

Westinghouse Air Brake Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.80 dividend on an annualized basis and a yield of 0.40%. Westinghouse Air Brake Technologies’s dividend payout ratio is presently 13.33%.

Insider Buying and Selling at Westinghouse Air Brake Technologies

In related news, Director Albert J. Neupaver sold 35,722 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $188.70, for a total value of $6,740,741.40. Following the completion of the transaction, the director now directly owns 614,447 shares of the company’s stock, valued at $115,946,148.90. This represents a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO John A. Mastalerz, Jr. sold 2,796 shares of Westinghouse Air Brake Technologies stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $199.71, for a total value of $558,389.16. Following the sale, the chief accounting officer now directly owns 5,683 shares in the company, valued at approximately $1,134,951.93. The trade was a 32.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,393 shares of company stock valued at $9,350,243 in the last 90 days. Insiders own 1.10% 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.