KLP Kapitalforvaltning AS Takes $22.51 Million Position in Westinghouse Air Brake Technologies Co. (NYSE:WAB)

KLP Kapitalforvaltning AS bought a new position in shares of Westinghouse Air Brake Technologies Co. (NYSE:WAB) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 118,726 shares of the transportation company’s stock, valued at approximately $22,509,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Garde Capital Inc. bought a new stake in Westinghouse Air Brake Technologies during the 3rd quarter worth about $110,000. Dorsey & Whitney Trust CO LLC bought a new stake in Westinghouse Air Brake Technologies during the fourth quarter worth about $204,000. Camden National Bank bought a new stake in Westinghouse Air Brake Technologies during the third quarter worth about $222,000. Longboard Asset Management LP bought a new position in Westinghouse Air Brake Technologies in the fourth quarter valued at approximately $252,000. Finally, Catalyst Funds Management Pty Ltd grew its stake in Westinghouse Air Brake Technologies by 200.0% in the fourth quarter. Catalyst Funds Management Pty Ltd now owns 1,800 shares of the transportation company’s stock valued at $341,000 after purchasing an additional 1,200 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.

Westinghouse Air Brake Technologies Trading Down 0.3 %

WAB stock opened at $184.88 on Friday. Westinghouse Air Brake Technologies Co. has a one year low of $141.85 and a one year high of $210.88. The stock has a market cap of $31.59 billion, a price-to-earnings ratio of 30.66, a price-to-earnings-growth ratio of 1.50 and a beta of 1.31. The company has a fifty day moving average price of $192.77 and a two-hundred day moving average price of $190.37. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 0.69.

Westinghouse Air Brake Technologies (NYSE:WAB) last announced its earnings results on Wednesday, February 12th. The transportation company reported $1.68 EPS 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%. Equities analysts anticipate that Westinghouse Air Brake Technologies Co. will post 8.54 EPS for the current year.

Westinghouse Air Brake Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were paid a dividend of $0.25 per share. The ex-dividend date was Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.54%. This is a positive change from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.20. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) is 16.58%.

Insider Buying and Selling

In other Westinghouse Air Brake Technologies news, CEO Rafael Santana sold 886 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $182.34, for a total transaction of $161,553.24. Following the transaction, the chief executive officer now owns 176,295 shares in the company, valued at $32,145,630.30. This trade represents a 0.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on WAB shares. Stephens reissued an “overweight” rating and issued a $220.00 price objective on shares of Westinghouse Air Brake Technologies in a report on Thursday, February 13th. StockNews.com cut shares of Westinghouse Air Brake Technologies from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Bank of America boosted their price objective on shares of Westinghouse Air Brake Technologies from $225.00 to $226.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $206.33.

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.