Westinghouse Air Brake Technologies Co. (NYSE:WAB) Shares Sold by Handelsinvest Investeringsforvaltning

Handelsinvest Investeringsforvaltning reduced its position in shares of Westinghouse Air Brake Technologies Co. (NYSE:WAB) by 16.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,822 shares of the transportation company’s stock after selling 1,296 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Westinghouse Air Brake Technologies were worth $994,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WAB. First Hawaiian Bank increased its position in shares of Westinghouse Air Brake Technologies by 49.1% during the fourth quarter. First Hawaiian Bank now owns 3,542 shares of the transportation company’s stock valued at $449,000 after acquiring an additional 1,167 shares during the last quarter. Industrial Alliance Investment Management Inc. acquired a new position in shares of Westinghouse Air Brake Technologies in the third quarter valued at approximately $498,000. iA Global Asset Management Inc. acquired a new position in shares of Westinghouse Air Brake Technologies in the third quarter valued at approximately $1,915,000. BNP Paribas Financial Markets lifted its stake in Westinghouse Air Brake Technologies by 7.7% in the fourth quarter. BNP Paribas Financial Markets now owns 81,916 shares of the transportation company’s stock worth $10,395,000 after acquiring an additional 5,859 shares during the last quarter. Finally, 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 worth $20,226,000 after acquiring an additional 14,285 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WAB. Bank of America lifted their price target on shares of 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. Stephens boosted their price objective on shares of Westinghouse Air Brake Technologies from $165.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. TD Cowen boosted their price objective on shares of Westinghouse Air Brake Technologies from $130.00 to $147.00 and gave the stock a “hold” rating in a research report on Thursday, April 25th. KeyCorp boosted their price objective on shares of Westinghouse Air Brake Technologies from $155.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Finally, Susquehanna lifted their target price on shares of Westinghouse Air Brake Technologies from $160.00 to $190.00 and gave the company a “positive” rating in a report on Thursday, April 25th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $158.82.

Insider Transactions at Westinghouse Air Brake Technologies

In other news, CAO John A. Mastalerz, Jr. sold 3,749 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $162.70, for a total transaction of $609,962.30. Following the transaction, the chief accounting officer now directly owns 8,479 shares in the company, valued at approximately $1,379,533.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CAO John A. Mastalerz, Jr. sold 3,749 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $162.70, for a total transaction of $609,962.30. Following the transaction, the chief accounting officer now directly owns 8,479 shares in the company, valued at approximately $1,379,533.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Gregory Sbrocco sold 1,646 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $167.30, for a total transaction of $275,375.80. Following the transaction, the executive vice president now owns 16,666 shares in the company, valued at $2,788,221.80. The disclosure for this sale can be found here. Insiders have sold a total of 47,476 shares of company stock worth $7,689,609 in the last three months. Company insiders own 1.10% of the company’s stock.

Westinghouse Air Brake Technologies Price Performance

Westinghouse Air Brake Technologies stock opened at $156.14 on Wednesday. Westinghouse Air Brake Technologies Co. has a 52 week low of $98.70 and a 52 week high of $170.83. The company has a quick ratio of 0.77, a current ratio of 1.52 and a debt-to-equity ratio of 0.38. The firm’s 50-day simple moving average is $164.30 and its 200 day simple moving average is $146.25. The firm has a market capitalization of $27.54 billion, a PE ratio of 30.36, a P/E/G ratio of 1.41 and a beta of 1.29.

Westinghouse Air Brake Technologies (NYSE:WAB) last released its earnings results on Wednesday, April 24th. The transportation company reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.40 billion. Westinghouse Air Brake Technologies had a net margin of 9.20% and a return on equity of 11.25%. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.28 EPS. On average, equities research analysts predict that Westinghouse Air Brake Technologies Co. will post 7.26 EPS for the current fiscal year.

Westinghouse Air Brake Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 28th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, May 24th. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. Westinghouse Air Brake Technologies’s payout ratio is currently 15.63%.

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.