Westinghouse Air Brake Technologies (NYSE:WAB) Hits New 52-Week High at $167.51

Westinghouse Air Brake Technologies Co. (NYSE:WAB)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $167.51 and last traded at $167.22, with a volume of 469887 shares. The stock had previously closed at $165.56.

Analysts Set New Price Targets

Several research analysts have commented on the company. KeyCorp lifted their price target on Westinghouse Air Brake Technologies from $155.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Wells Fargo & Company increased their target price 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. Stephens boosted their price target on Westinghouse Air Brake Technologies from $165.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Bank of America lifted their price objective on Westinghouse Air Brake Technologies from $156.00 to $162.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Finally, Jefferies Financial Group raised shares of Westinghouse Air Brake Technologies from a “hold” rating to a “buy” rating and boosted their price target for the company from $115.00 to $150.00 in a report on Thursday, January 11th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Westinghouse Air Brake Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $156.18.

Westinghouse Air Brake Technologies Stock Up 1.1 %

The company has a current ratio of 1.52, a quick ratio of 0.77 and a debt-to-equity ratio of 0.38. The company has a market cap of $29.51 billion, a P/E ratio of 32.68, a price-to-earnings-growth ratio of 1.43 and a beta of 1.36. The firm’s 50 day moving average price is $148.51 and its 200-day moving average price is $132.07.

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. Westinghouse Air Brake Technologies had a net margin of 9.20% and a return on equity of 11.25%. The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the previous year, the business earned $1.28 EPS. The business’s quarterly revenue was up 13.9% compared to the same quarter last year. As a group, equities research analysts expect that Westinghouse Air Brake Technologies Co. will post 7.34 EPS for the current year.

Westinghouse Air Brake Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. 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%.

Insiders Place Their Bets

In other news, Director Albert J. Neupaver sold 29,100 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $161.63, for a total transaction 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 is available at the SEC website. In related news, Director Albert J. Neupaver sold 29,100 shares of the firm’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $161.63, for a total transaction of $4,703,433.00. Following the sale, the director now directly owns 595,412 shares in the company, valued at $96,236,441.56. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO John A. Mastalerz, Jr. sold 3,749 shares of the stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $162.70, for a total value of $609,962.30. Following the transaction, the chief accounting officer now owns 8,479 shares of the company’s stock, valued at approximately $1,379,533.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 109,794 shares of company stock worth $16,338,817. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. iA Global Asset Management Inc. bought a new stake in Westinghouse Air Brake Technologies during the third quarter worth about $1,915,000. First Hawaiian Bank grew its stake in shares of Westinghouse Air Brake Technologies by 49.1% in the fourth quarter. First Hawaiian Bank now owns 3,542 shares of the transportation company’s stock valued at $449,000 after acquiring an additional 1,167 shares in the last quarter. Handelsinvest Investeringsforvaltning bought a new stake in Westinghouse Air Brake Technologies in the 4th quarter valued at about $1,030,000. Watchman Group Inc. grew its position in shares of Westinghouse Air Brake Technologies by 0.9% during the 3rd quarter. Watchman Group Inc. now owns 28,921 shares of the transportation company’s stock worth $3,073,000 after purchasing an additional 269 shares in the last quarter. Finally, Applied Finance Capital Management LLC increased its holdings in shares of Westinghouse Air Brake Technologies by 5.7% during the third quarter. Applied Finance Capital Management LLC now owns 145,099 shares of the transportation company’s stock worth $15,420,000 after purchasing an additional 7,785 shares during the period. Institutional investors 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.