KLP Kapitalforvaltning AS purchased a new position in shares of Westinghouse Air Brake Technologies Co. (NYSE:WAB - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 118,726 shares of the transportation company's stock, valued at approximately $22,509,000. KLP Kapitalforvaltning AS owned 0.07% of Westinghouse Air Brake Technologies at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Garde Capital Inc. acquired a new stake in Westinghouse Air Brake Technologies during the 3rd quarter worth approximately $110,000. Dorsey & Whitney Trust CO LLC bought a new stake in shares of Westinghouse Air Brake Technologies during the fourth quarter worth $204,000. Camden National Bank acquired a new stake in shares of Westinghouse Air Brake Technologies during the third quarter worth $222,000. Longboard Asset Management LP bought a new stake in Westinghouse Air Brake Technologies in the 4th quarter valued at $252,000. Finally, Harvest Fund Management Co. Ltd boosted its stake in 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 purchasing an additional 172 shares during the period. Institutional investors own 91.69% of the company's stock.
Analyst Ratings Changes
Several analysts have issued reports on WAB shares. Bank of America lifted their price target on Westinghouse Air Brake Technologies from $225.00 to $226.00 and gave the company a "buy" rating in a research note on Wednesday, January 15th. StockNews.com downgraded Westinghouse Air Brake Technologies from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Finally, Stephens restated an "overweight" rating and issued a $220.00 target price on shares of Westinghouse Air Brake Technologies in a research note on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $206.33.
Read Our Latest Research Report on WAB
Westinghouse Air Brake Technologies Stock Down 1.1 %
Shares of NYSE:WAB traded down $2.05 during midday trading on Wednesday, reaching $187.55. The company had a trading volume of 540,058 shares, compared to its average volume of 1,045,941. Westinghouse Air Brake Technologies Co. has a 1-year low of $143.22 and a 1-year high of $210.88. The stock has a market cap of $32.04 billion, a PE ratio of 31.10, a P/E/G ratio of 1.50 and a beta of 1.31. The company has a quick ratio of 0.69, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The business's 50 day moving average price is $192.28 and its 200 day moving average price is $190.91.
Westinghouse Air Brake Technologies (NYSE:WAB - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The transportation company reported $1.68 earnings per share for the quarter, missing the consensus estimate of $1.74 by ($0.06). Westinghouse Air Brake Technologies had a return on equity of 12.78% and a net margin of 10.17%. Research analysts forecast that Westinghouse Air Brake Technologies Co. will post 8.54 EPS for the current fiscal year.
Westinghouse Air Brake Technologies Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were given a dividend of $0.25 per share. This is a positive change from Westinghouse Air Brake Technologies's previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Friday, February 21st. Westinghouse Air Brake Technologies's dividend payout ratio is 16.58%.
Insider Buying and Selling at Westinghouse Air Brake Technologies
In other news, CEO Rafael Santana sold 886 shares of the company's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $182.34, for a total value of $161,553.24. Following the sale, the chief executive officer now directly owns 176,295 shares of the company's stock, valued at approximately $32,145,630.30. This represents a 0.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company's stock.
Westinghouse Air Brake Technologies Profile
(
Free Report)
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.
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