Lord Abbett & CO. LLC Takes Position in Westinghouse Air Brake Technologies Co. (NYSE:WAB)

Lord Abbett & CO. LLC acquired a new stake in shares of Westinghouse Air Brake Technologies Co. (NYSE:WAB - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 135,500 shares of the transportation company's stock, valued at approximately $24,630,000. Lord Abbett & CO. LLC owned about 0.08% of Westinghouse Air Brake Technologies as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in WAB. Pinnacle Bancorp Inc. grew its holdings in Westinghouse Air Brake Technologies by 55.0% during the third quarter. Pinnacle Bancorp Inc. now owns 155 shares of the transportation company's stock valued at $28,000 after purchasing an additional 55 shares during the last quarter. Eastern Bank acquired a new position in Westinghouse Air Brake Technologies in the 3rd quarter valued at $33,000. Garde Capital Inc. bought a new position in Westinghouse Air Brake Technologies in the 3rd quarter worth $110,000. Camden National Bank acquired a new position in Westinghouse Air Brake Technologies during the 3rd quarter worth $222,000. Finally, Harvest Fund Management Co. Ltd boosted its holdings in Westinghouse Air Brake Technologies by 10.4% during the third quarter. Harvest Fund Management Co. Ltd now owns 1,820 shares of the transportation company's stock valued at $331,000 after acquiring an additional 172 shares during the period. 91.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. The Goldman Sachs Group lifted their price objective on Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the stock a "neutral" rating in a research note on Thursday, October 24th. Susquehanna upped their price target on Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the stock a "positive" rating in a report on Monday, October 21st. Stephens raised their price objective on shares of Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. Finally, KeyCorp boosted their target price on shares of Westinghouse Air Brake Technologies from $200.00 to $220.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Westinghouse Air Brake Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $175.30.

Westinghouse Air Brake Technologies Price Performance

Shares of WAB stock traded up $2.64 during mid-day trading on Monday, reaching $202.32. The company's stock had a trading volume of 1,288,986 shares, compared to its average volume of 1,078,047. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.65 and a current ratio of 1.30. The firm's 50-day moving average is $195.14 and its two-hundred day moving average is $175.42. Westinghouse Air Brake Technologies Co. has a 1-year low of $121.85 and a 1-year high of $207.51. The company has a market cap of $34.78 billion, a P/E ratio of 33.72, a PEG ratio of 1.45 and a beta of 1.26.

Westinghouse Air Brake Technologies (NYSE:WAB - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.13. The firm had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.68 billion. Westinghouse Air Brake Technologies had a net margin of 10.25% and a return on equity of 12.52%. The company's quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.70 earnings per share. On average, research analysts predict that Westinghouse Air Brake Technologies Co. will post 7.6 earnings per share for the current year.

Westinghouse Air Brake Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were paid a dividend of $0.20 per share. The ex-dividend date was Wednesday, November 13th. This represents a $0.80 annualized dividend and a yield of 0.40%. Westinghouse Air Brake Technologies's dividend payout ratio is currently 13.33%.

Insider Buying and Selling at Westinghouse Air Brake Technologies

In other news, CAO John A. Mastalerz, Jr. sold 2,796 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $199.71, for a total value of $558,389.16. Following the transaction, the chief accounting officer now directly owns 5,683 shares of the company's stock, valued at $1,134,951.93. The trade was a 32.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP David L. Deninno sold 10,000 shares of the firm's stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $188.60, for a total value of $1,886,000.00. Following the sale, the vice president now directly owns 55,352 shares of the company's stock, valued at $10,439,387.20. This represents a 15.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 49,393 shares of company stock valued at $9,350,243. 1.10% of the stock is currently owned by company insiders.

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.