Westinghouse Air Brake Technologies (NYSE:WAB) Hits New 52-Week High After Earnings Beat

Shares of Westinghouse Air Brake Technologies Co. (NYSE:WAB) reached a new 52-week high during trading on Wednesday following a stronger than expected earnings report. The company 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 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $2.40 billion. During the same period in the previous year, the firm earned $1.28 EPS. Westinghouse Air Brake Technologies’s revenue was up 13.9% on a year-over-year basis.

Westinghouse Air Brake Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This is a boost from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.17. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. Westinghouse Air Brake Technologies’s payout ratio is presently 15.63%.

Analysts Set New Price Targets

A number of brokerages recently commented on WAB. Susquehanna raised their target price on Westinghouse Air Brake Technologies from $160.00 to $190.00 and gave the company a “positive” rating in a report on Thursday. Stephens lifted their price objective on shares of Westinghouse Air Brake Technologies from $165.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday. TD Cowen upped their price objective on Westinghouse Air Brake Technologies from $130.00 to $147.00 and gave the stock a “hold” rating in a research report on Thursday. KeyCorp lifted their target price on Westinghouse Air Brake Technologies from $155.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Bank of America boosted their target price on Westinghouse Air Brake Technologies from $156.00 to $162.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $156.18.

Insider Buying and Selling at Westinghouse Air Brake Technologies

In other news, CEO Rafael Santana sold 40,219 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $140.62, for a total value of $5,655,595.78. Following the transaction, 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 document filed with the SEC, which is available at this hyperlink. In other Westinghouse Air Brake Technologies news, VP David L. Deninno sold 6,607 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $135.61, for a total value of $895,975.27. Following the completion of the transaction, the vice president now owns 65,535 shares in the company, valued at $8,887,201.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Rafael Santana sold 40,219 shares of Westinghouse Air Brake Technologies stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $140.62, for a total value of $5,655,595.78. Following the sale, the chief executive officer now owns 123,019 shares in the company, valued at approximately $17,298,931.78. The disclosure for this sale can be found here. Insiders have sold a total of 63,964 shares of company stock worth $8,924,584 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Westinghouse Air Brake Technologies

A number of large investors have recently made changes to their positions in WAB. Applied Finance Capital Management LLC lifted its stake in Westinghouse Air Brake Technologies by 9.8% in the fourth quarter. Applied Finance Capital Management LLC now owns 159,384 shares of the transportation company’s stock valued at $20,226,000 after buying an additional 14,285 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Westinghouse Air Brake Technologies by 7.7% in the 4th quarter. BNP Paribas Financial Markets now owns 81,916 shares of the transportation company’s stock valued at $10,395,000 after acquiring an additional 5,859 shares during the period. Watchman Group Inc. boosted its stake in 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 during the period. iA Global Asset Management Inc. acquired a new stake in Westinghouse Air Brake Technologies during the 3rd quarter worth $1,915,000. Finally, Handelsinvest Investeringsforvaltning acquired a new position in Westinghouse Air Brake Technologies in the fourth quarter valued at $1,030,000. 91.69% of the stock is owned by institutional investors and hedge funds.

Westinghouse Air Brake Technologies Trading Down 0.1 %

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

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.