Westinghouse Air Brake Technologies Corp (WAB) Plans Quarterly Dividend of $0.12

Westinghouse Air Brake Technologies Corp (NYSE:WAB) declared a quarterly dividend on Tuesday, October 16th, Zacks reports. Stockholders of record on Friday, November 16th will be given a dividend of 0.12 per share by the transportation company on Friday, November 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Thursday, November 15th.

Westinghouse Air Brake Technologies has raised its dividend payment by an average of 30.1% annually over the last three years and has increased its dividend every year for the last 7 years. Westinghouse Air Brake Technologies has a dividend payout ratio of 12.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Westinghouse Air Brake Technologies to earn $4.57 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 10.5%.

Shares of Westinghouse Air Brake Technologies stock opened at $87.05 on Friday. Westinghouse Air Brake Technologies has a 1 year low of $69.75 and a 1 year high of $115.40. The company has a market cap of $8.42 billion, a price-to-earnings ratio of 25.38, a P/E/G ratio of 1.97 and a beta of 1.17. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.84 and a quick ratio of 2.28.

Westinghouse Air Brake Technologies (NYSE:WAB) last announced its earnings results on Tuesday, October 30th. The transportation company reported $0.95 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.95. Westinghouse Air Brake Technologies had a net margin of 7.16% and a return on equity of 12.43%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1 billion. During the same period in the previous year, the business posted $0.88 earnings per share. Westinghouse Air Brake Technologies’s revenue for the quarter was up 12.5% on a year-over-year basis. Equities research analysts predict that Westinghouse Air Brake Technologies will post 3.85 earnings per share for the current fiscal year.

Several equities research analysts have issued reports on WAB shares. Wells Fargo & Co set a $105.00 target price on shares of Westinghouse Air Brake Technologies and gave the company a “buy” rating in a research report on Wednesday, October 31st. ValuEngine lowered shares of Westinghouse Air Brake Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Stifel Nicolaus set a $110.00 target price on shares of Westinghouse Air Brake Technologies and gave the company a “buy” rating in a research report on Wednesday, October 31st. William Blair reiterated a “buy” rating on shares of Westinghouse Air Brake Technologies in a research report on Monday, September 17th. Finally, Wellington Shields upgraded shares of Westinghouse Air Brake Technologies from a “hold” rating to a “gradually accumulate” rating in a research report on Monday, October 15th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $106.73.

In other Westinghouse Air Brake Technologies news, Director William E. Kassling sold 8,000 shares of Westinghouse Air Brake Technologies stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $109.27, for a total transaction of $874,160.00. Following the transaction, the director now directly owns 81,444 shares of the company’s stock, valued at $8,899,385.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert J. Brooks sold 20,000 shares of Westinghouse Air Brake Technologies stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $110.56, for a total transaction of $2,211,200.00. Following the transaction, the director now directly owns 19,200 shares in the company, valued at $2,122,752. The disclosure for this sale can be found here. Company insiders own 11.49% of the company’s stock.

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About Westinghouse Air Brake Technologies

Westinghouse Air Brake Technologies Corporation, doing business as Wabtec Corporation, provides technology-based equipment, systems, and services for the freight rail and passenger transit vehicle industries worldwide. It operates in two segments, Freight and Transit. The Freight segment manufactures and services components for new and existing locomotive and freight cars; supplies railway electronics and positive train control equipment; offers signal design and engineering services; builds switcher locomotives; rebuilds freight locomotives; and provides heat exchangers and cooling systems for rail and other industrial markets.

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Dividend History for Westinghouse Air Brake Technologies (NYSE:WAB)

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