Westinghouse Air Brake Technologies (NYSE:WAB) Hits New 12-Month High Following Strong Earnings

Westinghouse Air Brake Technologies Co. (NYSE:WAB)’s share price hit a new 52-week high during mid-day trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $167.49 and last traded at $162.74, with a volume of 780741 shares traded. The stock had previously closed at $148.48.

The transportation company reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Westinghouse Air Brake Technologies had a return on equity of 11.25% and a net margin of 9.20%. The firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same period last year, the firm earned $1.28 EPS. The company’s quarterly revenue was up 13.9% on a year-over-year basis.

Westinghouse Air Brake Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were paid a $0.20 dividend. The ex-dividend date was Thursday, February 22nd. This is a positive change from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.17. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) is currently 15.63%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on WAB shares. The Goldman Sachs Group raised their price target on shares of Westinghouse Air Brake Technologies from $138.00 to $152.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Morgan Stanley started coverage on shares of Westinghouse Air Brake Technologies in a research note on Monday, January 8th. They issued an “overweight” rating and a $137.00 price target on the stock. TD Cowen raised their price target on shares of Westinghouse Air Brake Technologies from $130.00 to $147.00 and gave the company a “hold” rating in a research note on Thursday. Susquehanna raised their price target on shares of Westinghouse Air Brake Technologies from $160.00 to $190.00 and gave the company a “positive” rating in a research note on Thursday. Finally, Stephens raised their target price on shares of Westinghouse Air Brake Technologies from $165.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Westinghouse Air Brake Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.18.

Insider Transactions at Westinghouse Air Brake Technologies

In other news, Director Brian Hehir sold 5,470 shares of the firm’s stock in a transaction that occurred 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 owns 23,065 shares in the company, valued at approximately $3,132,227. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Rafael Santana sold 40,219 shares of Westinghouse Air Brake Technologies stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $140.62, for a total value of $5,655,595.78. Following the completion of the sale, the chief executive officer now owns 123,019 shares in the company, valued at approximately $17,298,931.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian Hehir sold 5,470 shares of Westinghouse Air Brake Technologies stock in a transaction that occurred 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 owns 23,065 shares of the company’s stock, valued at approximately $3,132,227. The disclosure for this sale can be found here. Insiders sold 63,964 shares of company stock worth $8,924,584 in the last 90 days. Insiders own 1.10% of the company’s stock.

Institutional Trading of Westinghouse Air Brake Technologies

Several institutional investors have recently added to or reduced their stakes in WAB. Applied Finance Capital Management LLC increased its holdings in Westinghouse Air Brake Technologies by 5.7% in the 3rd quarter. Applied Finance Capital Management LLC now owns 145,099 shares of the transportation company’s stock valued at $15,420,000 after purchasing an additional 7,785 shares during the last quarter. Watchman Group Inc. increased its holdings in Westinghouse Air Brake Technologies by 0.9% in the 3rd quarter. Watchman Group Inc. now owns 28,921 shares of the transportation company’s stock valued at $3,073,000 after purchasing an additional 269 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in Westinghouse Air Brake Technologies in the 3rd quarter valued at approximately $204,000. Industrial Alliance Investment Management Inc. acquired a new position in shares of Westinghouse Air Brake Technologies in the third quarter worth $498,000. Finally, iA Global Asset Management Inc. acquired a new position in shares of Westinghouse Air Brake Technologies in the third quarter worth $1,915,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

Westinghouse Air Brake Technologies Trading Down 0.1 %

The company’s 50 day simple moving average is $143.19 and its 200 day simple moving average is $127.89. The firm has a market cap of $28.85 billion, a price-to-earnings ratio of 31.87, a P/E/G ratio of 1.76 and a beta of 1.40. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.52 and a quick ratio of 0.63.

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.