iA Global Asset Management Inc. Buys 3,288 Shares of Westinghouse Air Brake Technologies Co. (NYSE:WAB)

iA Global Asset Management Inc. grew its holdings in shares of Westinghouse Air Brake Technologies Co. (NYSE:WAB - Free Report) by 21.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,613 shares of the transportation company's stock after purchasing an additional 3,288 shares during the quarter. iA Global Asset Management Inc.'s holdings in Westinghouse Air Brake Technologies were worth $3,383,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Pinnacle Bancorp Inc. increased its holdings in Westinghouse Air Brake Technologies by 55.0% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 155 shares of the transportation company's stock worth $28,000 after acquiring an additional 55 shares during the last quarter. Eastern Bank purchased a new stake in Westinghouse Air Brake Technologies in the 3rd quarter worth about $33,000. Camden National Bank purchased a new stake in Westinghouse Air Brake Technologies in the 3rd quarter worth about $222,000. Harvest Fund Management Co. Ltd increased its holdings 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 acquiring an additional 172 shares during the last quarter. Finally, Bridges Investment Management Inc. purchased a new stake in Westinghouse Air Brake Technologies in the 2nd quarter worth about $360,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on WAB shares. KeyCorp raised their target price on Westinghouse Air Brake Technologies from $200.00 to $220.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th. Susquehanna raised their target price on Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the stock a "positive" rating in a research note on Monday, October 21st. The Goldman Sachs Group raised their target price 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. Finally, Stephens raised their target price on 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. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Westinghouse Air Brake Technologies has an average rating of "Moderate Buy" and an average price target of $175.30.

Insider Activity

In related news, Director Albert J. Neupaver sold 35,722 shares of the company's stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $188.70, for a total value of $6,740,741.40. Following the sale, the director now directly owns 614,447 shares of the company's stock, valued at $115,946,148.90. This represents a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO John A. Mastalerz, Jr. sold 2,796 shares of the company's stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 5,683 shares in the company, valued at approximately $1,134,951.93. The trade was a 32.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,393 shares of company stock valued at $9,350,243. Company insiders own 1.10% of the company's stock.

Westinghouse Air Brake Technologies Trading Up 1.2 %

Westinghouse Air Brake Technologies stock traded up $2.48 during trading hours on Friday, reaching $205.41. The company had a trading volume of 1,990,143 shares, compared to its average volume of 786,117. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 0.65. The company has a 50-day moving average price of $192.67 and a 200 day moving average price of $173.99. The firm has a market cap of $35.31 billion, a price-to-earnings ratio of 34.24, a P/E/G ratio of 1.49 and a beta of 1.26. Westinghouse Air Brake Technologies Co. has a 12-month low of $117.65 and a 12-month high of $205.53.

Westinghouse Air Brake Technologies (NYSE:WAB - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $2.00 EPS for the quarter, topping analysts' consensus estimates of $1.87 by $0.13. Westinghouse Air Brake Technologies had a return on equity of 12.52% and a net margin of 10.25%. The business had revenue of $2.66 billion for the quarter, compared to analysts' expectations of $2.68 billion. During the same period in the previous year, the firm earned $1.70 EPS. The business's quarterly revenue was up 4.4% on a year-over-year basis. Equities analysts forecast that Westinghouse Air Brake Technologies Co. will post 7.61 earnings per share for the current year.

Westinghouse Air Brake Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.80 annualized dividend and a dividend yield of 0.39%. Westinghouse Air Brake Technologies's dividend payout ratio (DPR) is presently 13.33%.

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.